Manufacturing companies and wholesale distributors operate in highly complex pricing environments that create barriers to realizing the revenue and margins that these firms truly deserve. Thousands of items sold to a large number of customers in numerous markets can result in millions of transactional price decisions. It is virtually impossible to effectively optimize prices without the aid of a pricing engine. Spreadsheets are insufficient.
Don’t Fall Short with Price Optimization Software
Optimizing prices requires effective application of skills and tools beyond just pricing software. Price optimization software delivers the guidance necessary for optimal prices but the implementation and measurement of price performance are critical success factors that, when insufficiently managed, cause price setting programs to fail. Insuring optimization success requires three critical elements that include pricing science, successful implementation programs and price performance measurement.