For food producers, pricing is anything but straightforward. Future price indices, capacity allocation, overhead costs, commodity price fluctuation and data sparsity within a contract-heavy environment make effective pricing a delicate balance.
The pricing team at one business unit within a global food manufacturing company faced additional complexities. A range of commodity to specialized products with various commonality and complex, varied recipes with different cost structures and demand patterns converged to make pricing effectively a moving target.
“We really worked with the Zilliant science and technical team as an extension of our team,” said the strategic pricing leader. “We found we are able to solve problems better together.”
Ultimately, the team was able to overcome data sparsity issues to achieve a significant reduction in manual price exception requests and faster price guidance updates!