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Consolidation of Goods Portfolio
Streamlining the assortment of goods to focus on the most profitable and strategically important items, including the elimination of slow sellers.
Implications
The process of streamlining and simplifying a company�s range of products or services, often by discontinuing underperforming items or merging similar offerings to focus on the most profitable ones.
Example
Example: A consumer electronics company consolidates its goods portfolio by phasing out older models and focusing on a smaller range of innovative products to reduce costs and improve profitability.
Related Terms
Different from diversification, which involves adding new products or services, consolidation involves reducing the number of offerings to improve efficiency and focus.
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