Inflation & Beyond: Pricing Strategies for B2B Spare Parts Companies
As input prices continue to rise, margin leakage grows for many spare parts companies. This is because the legacy tools and processes being used to pass through cost changes – already dated in the digital commerce age – are now completely inadequate to deal with current inflationary pressures. If a global recession takes hold, pressure to reduce prices from peak inflationary times will increase. Companies equipped to know where, when and by how much prices may need to decrease will be in the best position to maintain margins and avoid losing volume. A new era demands new pricing strategies. This is particularly true for spare parts companies that must account for voluminous supplier cost inputs and discrete pricing strategies for dealers, wholesale distributors, digital channels, promotions, rebates, contracts, and services. Attend this session to learn how to embrace an innovative approach to price optimization and management to get ahead of market volatility – and the competition.