Before you begin introducing a new product line and abandoning an existing one, it is best to undertake a market demand analysis for the product line that you wish to introduce.
Look at the performance and products of competitors. Consider customer preferences, and test your new product line through dipstick surveys and food events.
Pricing and volumes are the next areas to look at. Suppose these preliminary analyses inform you that the new product line is preferred by customers and will help you achieve a competitive advantage over your customer. In that case, you are ready to begin the process of restructuring.
A new product line will require a unique production process, building new supply chains, and acquiring new skills from your workforce. Action will be needed to define new processes and a new organizational model.
Once you are through all these steps and are satisfied that the proposed changes will work, start the phasing in the new product line and phasing out of the old. The pace of phasing in and phasing out will depend on the response that you get from your customers. Its pace will be dictated by the ability of your organization to adapt to the rate of change.
Rushing through the restructuring process can affect company performance. The restructuring would be complete as the new product line is accepted and the new processes and organization fully adapt.
All the best!