In our current economic recession, automotive and heavy-duty truck spare parts suppliers occupy a rare growth sector. Fewer new cars and trucks are being sold during the coronavirus pandemic, so drivers are investing more in parts to keep their current vehicles on the road. According to IMR Inc., DIY installation activity rose 7.5% in 2009, compared to 2008, during the last global recession.
How can companies capture maximum value during the coronavirus-driven downturn, which is an event that is increasingly difficult to project an endpoint onto and will surely continue to raise the competitive stakes?
We tackled this topic and much more in the latest episode of B2B Reimagined. Zilliant Business Solutions Consultant Tim Mohnke, veteran in both the spare parts and pricing consulting industries, joined the podcast to give his unique perspective on commercial excellence for both manufacturers and distributors in today’s environment.
Mohnke gives personal anecdotes about why he followed a family tradition into the spare parts industry, and guides listeners through the major commercial changes he’s seen throughout his career.
He also offers advice on:
- How distributors can lean on price optimization and delivery excellence to stand out in highly competitive times to be the “first call” on a body shop’s list.
How manufacturers can cut through parts supercession complexity, keeping prices aligned across hundreds of thousands to millions of SKUs.
Why price optimization and artificial intelligence delivers value despite the generally inelastic nature of service parts prices.
How Tier 1, 2 and 3 suppliers can use a data science platform to better quantify their risk when building proposals for long-term OEM contracts.