What’s your current strategy to handle volatile cost swings? At Zilliant, we recommend that our customers evaluate their pricing strategies before volatile costs decimate margins.
In the first edition of our “How to Use AI in B2B” series, crowdsourced from our customers at MindShare 2018, we learned that leading B2B companies are leveraging AI to enable productive omnichannel conversations with customers in-person, online or otherwise. In this post, we’ll share how our customers mitigate cost volatility.
How to Use AI in B2B: Nimble Response to Changing Market Dynamics is Key
Most companies, when equipped with legacy tools and processes, simply don’t have an effective means to mitigate volatile costs when they happen. Take the presentation of the VP of supply chain at a U.S.-based food manufacturer: 90 percent of the company’s prices are predicated on one raw material which is extremely volatile.
“Cost transparency and sophisticated buyers means getting prices right is essential to our business. We saw immediate results with price optimization: the right segmentation, the right guidance and the right margin are instrumental for us. We love Zilliant’s Strategy Interface, it allows us to simply and easily take real-time market inputs and adjust guidance to the sales team.”
Key Takeaway: Leading B2B companies utilize AI to address volatile market conditions by building varying price strategies when costs swings hit and visualizing the predicted impact to profit and volume before the prices are live in-market.
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