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Definition of product rationalization

product rationalization:
"The process of justifying continued production or sales of a given item, based on a variety of factors such as its usage in single or multiple parents, use of dedicated production facilities, margin, number of customers, complement to other products, life cycle stage and others. It requires the capability to prioritize intangibles and to identify true cost drivers. "

Get more definitions about product rationalization and other ERP related terms here.
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