To explore how price optimization can produce market relevant prices, Zilliant — a provider of intelligent B2B price optimization and management and sales guidance software — offers a visual pricing playbook outlining average margin leakage, the mix of price modes, how to pair customer assignments with market realities, and how to solve for system pricing drift. Distributors who implement price optimization are able to:
- Optimize system prices to ensure they accurately reflect the market reality and will be used by the sales team more frequently
- Provide override guidance with guardrails to reduce over discounting
- Deliver optimized customer-specific guidance
- Utilize visual analytics to pinpoint and correct where unnecessary price deviations exist
- Enable a more strategic pricing response to cost volatility
When data science is designed to solve the pricing problems unique to MRO, applied to relevant in-house or other data sources and fine-tuned with the guidance of internal pricing experts, the issues of scale and speed in responding to external forces are mitigated. To learn more about the technology to achieve this, as well as sales guidance that grows wallet share, improves retention and increases average order size, visit www.zilliant.com.