Factors Influencing Obsolescence Management

Obsolescence Management

The world around us is changing rapidly. Our mobile phones became smartphones and televisions became smart TVs, computers became laptops and what not. We have everything changing every now and then. An end user always has a choice whether to stay updated with the technology or not. But when it comes to a professional organization facing hundreds of businesses, compliance with trend is quite mandatory.

If you’re not aware of what software or language is used to code faster as on date, you’re out of business. Several businesses, even though successful and built with 100 percent value proposition, couldn’t sustain because of compliance with trend. Very few organizations indulge in obsolescence management and those have tested times with ease. But even they couldn’t be consistent at certain times due to some factors. Here are some factors that affect obsolescence management.

Technology Advancements
This is the first and the most important of all problems faced by all businesses. Let us say you run a software business and you’re serving another software business. You have a vendor who offers some kind of services. The service you avail from him/her might not be valid as he is not using the same kind of software or system that you’re using i.e. not in line with the current trends. So you have to go identify a new vendor.

Low Product Popularity
The business environment is quite competitive. You might have developed a product for say PCB Design some two years ago and some set of people preferred buying it. But the same might have been replicated or produced with advanced features by someone else and that gains more popularity in due course. So your product didn’t get enough popularity to be a sensation, but whereas the updated ones have gained more and more popularity shunning your growth.

New Operating Systems
Let us say you have a new operating system and all your applications are pretty old and not updated. This condition is similar to driving an SUV like a bullock cart. Yes, your new operating system has all the new capabilities to run faster and stay stronger. But your applications which are out dated are terribly pulling them down, which means your overall productivity is taking a hit and you cannot deliver on time. At the end of all, you lose all your clients.

New Application Software
The same problem which we saw above in the reverse direction we discuss here. Yes, new operating system with outdated applications is a big problem. But outdated operating system with new applications is a disaster. With outdated applications and new OS, you can still produce something similar to the requirements. Only problem is time. But with the vice versa problem you actually cannot produce desired results. Hence compared to both, this is the biggest drawback you can ever have.

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