The risk of Obsolescence is in inevitable. However, rather than taking a reactive approach to incoming Obsolescence risk, predictive planning and proactive approach for mitigation of Obsolescence Risk can minimize the extra expenses and ensure the product availability. All sectors (Commercial, Industrial, Aviation, Defense, etc) where the product life is required to be more tend to face the risk of component obsolescence.

Obsolescence Risk Assessment Process is a critical activity for effective management of Obsolescence and deciding suitable Mitigation Strategy. Here in this post, we will discuss a suitable Obsolescence Management process and its associated activities that has been designed based on years of experience.