We describe a product portfolio rationalization framework focused on the question of stock keeping unit (SKU) deletion. While innovation and adding a new SKU to a product portfolio is well researched, there does not seem to be a complementary literature on the obverse—and much more organizationally complex—process of product/stock unit discontinuation. Our work is motivated by our own observations, opinions expressed in conversations with practitioners, and the responses to an initial survey on SKU rationalization, which we summarize here. We draw together results from a variety of research literatures and outline the scope of a research effort that would establish a process for SKU deletion. This effort includes: a definition of supply chain complexity which includes the effect of removal of products/stock units; describing supply chain cost as a function of (in part) this complexity; developing approaches to optimising performance measures (including cost) based on this complexity; formulating other research questions and hypotheses, including those arising from a survey of companies. This paper makes progress towards a definition of supply chain complexity. It also considers a necessary condition for SKU deletion, namely, for a given SKU, estimating the lifetime and total sales over lifetime to aid a supply chain manager’s decision on when to discontinue the SKU. This use of data/evidence in decision making is at the heart of business analytics and so argues for the use of business analytics methods in the addressing of this problem.