Multi-national, multi-billion electrical component manufacturer is feeling pressure to expand profitability in their largest operating space. Further complications were coming from overseas markets where quality improvements and lower manufacturing costs were eroding the last vestiges of perceived value.
Primarily, customer advocacy and competitive pressures have created a need for acute Price Strategies and commensurate Change Management.Secondarily, quantified comparative value is needed to justify the Value Sharing platform to the customer base. Third, they desired to implement a single instance of ERP pricing software to provide a single source price repository.
Uniform Pricing Strategy was implemented to handle standard business protocols. A Pricing Help Desk was established to handle exceptions and non-standard transactions. Data Readiness Plan completed to showcase improvement opportunities and limitations to software implementation.
An analytic platform was created around a predictive modeling suite to analyze competitive and internal failure rates; thus, showing the true lifetime costs of selecting an inferior competitive product.
Finally, deployed dashboards, price waterfalls, and KPI’s predicated on actionable cost-to-serve elements for compliance and tracking.
