A study on product portfolio management in small and medium-sized foundries
DOI:
https://doi.org/10.58368/MTT.22.7-8.2023.1-11Keywords:
Case Study, Foundry, PPM, Governance Model, Product Structure, Life Cycle StagesAbstract
This case study examines the practical implementation of Product Portfolio Management (PPM) in small and medium-scale foundries located in the Belagavi region. The main goal is to develop an effective governance model for PPM, optimizing product structure, life cycle management, and strategic decision-making in these foundries. Small and Medium-scale foundries often encounter challenges in efficiently managing their product portfolio, leading to suboptimal resource allocation and strategic decisions. To address these issues, the study focuses on the practical implementation of PPM and proposes a governance model to enhance overall product management. A qualitative, multiple case study approach was employed, involving interviews with key personnel such as CEOs and product managers to understand their perspectives on product ownership, management, and strategic alignment. The research outcomes reveal the development of a tailored PPM governance model for the studied foundries. Distinct differences between smaller and medium-sized foundries were found in terms of product ownership, with smaller foundries showing a deeper understanding of ownership, often embraced by their CEOs, while medium-sized foundries commonly appoint product managers as owners, focusing primarily on commercial elements. The study’s practical insights offer valuable guidance for successful PPM implementation in small and medium-scale foundries, addressing product management challenges and enhancing strategic decision-making. It serves as a valuable reference for foundry managers aiming to optimize their product management processes and overall business performance. Governance model framework which is developed has supported foundries effectively to strategize product portfolio ownership and improved productivity by 4.7% on an average considering all the case foundries.
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