When customer demand becomes increasingly volatile and product life cycle shortens, a capability to dynamically adjust the supply chain during the product life cycle becomes more urgent. The study’s purpose is to extend knowledge of dynamic supply chain design and management when the product is in the decline phase of its life cycle. A case study from a global telecom company reveals several challenges for supply chain management and solutions for handling these challenges when a product is beyond the peak. The findings are summarized in a tentative model that specifies supply chain challenges and strategies over the life cycle.