Product Manager: simplify a large portfolio of products

This Simulation will teach you how to reduce and rationalize a large set of products to move and innovate faster.

Meridian, founded in 1995, has grown into a leading provider of comprehensive solutions for medium to large enterprises in the cleaning industry. Starting with a small team, the company now boasts over 2,000 employees worldwide. Meridian's solutions include advanced software for accounting, financial management, human resources, and operational processes. Their flagship accounting software, launched in 2000, quickly became the industry standard. The HR suite introduced in 2005 was adopted by over 500 enterprises in its first year, and their operational process tools launched in 2010 increased the client base by 20%. Meridian serves over 1,000 large customer organizations globally, including Fortune 500 companies, and is recognized for its high-quality service and customer satisfaction. The company leverages advanced tools like JIRA, Confluence, SAP, and Salesforce to enhance operational efficiency and project management. Meridian operates with a decentralized structure, with regional centers contributing significantly to R&D output.

The primary challenge in this simulation is to simplify Meridian's extensive product portfolio. Over time, the suite of over 50 distinct products has become unwieldy, leading to a decline in R&D investment and new product launches. As a Product Manager, you will evaluate the current product suite, identify redundancies, and propose a consolidation plan. This plan must align with market demands and the company's innovation goals. You will analyze metrics such as sales figures, customer satisfaction ratings, and market share to identify products for consolidation or discontinuation. The impact of your plan on stakeholders, including customers and employees, must be carefully managed to ensure a smooth transition and maintain customer satisfaction.

In this simulation, you will assume the role of a Product Manager at Meridian, responsible for streamlining and consolidating the company's broad suite of products and modules. Your strategic tasks will include:

1. Conducting a thorough analysis of the current product portfolio using data analytics tools and market research to identify redundancies and areas for consolidation.
2. Engaging with stakeholders for feedback through individual interviews and surveys to understand their needs and expectations.
3. Developing a detailed consolidation strategy that balances customer needs with the company's innovation goals, including a clear roadmap for implementation and measurable outcomes.

You will interact with various stakeholders, including the executive team, the product development team, and key customers. Engaging with the Chief Strategy Officer will help you understand the strategic goals of the company. Discussions with the Head of Product Development will provide insights into the technical feasibility of the consolidation plans. Gathering feedback from a Senior Operations Manager at CleanCo will ensure that the proposed changes meet customer needs and expectations. Your final report will be reviewed by the Director of Product Management.

To complete the simulation, you need to produce a comprehensive consolidation strategy document that includes:

1. A thorough analysis of the current product portfolio, identifying redundancies and areas for consolidation.
2. A summary of stakeholder feedback, highlighting key insights and priorities.
3. A detailed consolidation strategy that balances customer needs with the company's innovation goals, including a clear roadmap for implementation and measurable outcomes.

Once the document is ready, save it in the Collaborative Document and send it to your manager, Casey Nguyen.