Abstract: A business method manages items associated with a business entity. The business method includes storing item unique identifiers, associating each identifier with at least one descriptor that further describes the item, tracking a performance of each item through the at least one descriptor, analyzing the tracked performance of the item, and rendering business decisions about the item based on the analysis. The at least one descriptor relates to a predetermined reason for introducing an item into a market, the reason including at least one of the following: to create a new product/business line; to offer a new item for sale; to create a line extension of an existing product line; to create a customer-specific line extension of an existing product line; to offer a promotional item; to create a display item; to change packaging for an existing product; to modify an existing item; to create a component item, and to create an international item.