Gabriel Smith, Vice President of Innovation at Pricefx, recently discussed pricing effectiveness in AutomationMedia magazine. According to Smith, just as OEE (Overall Equipment Effectiveness) is fundamentally a lean manufacturing outcome and part of continuous process improvement, there is a characteristic flaw in pricing and purchasing among most manufacturing operations. In 2020, the new iteration of OEE is OPE (Overall Pricing Effectiveness). Smith’s article can be read at AutomationMedia magazine.
OPE can be measured by optimizing and controlling pricing, as well as managing margin leakage with a price waterfall which allows manufacturers to track and adjust price points.
Pricefx optimizes and automated prices and accounts for leakage. The very process of customer acquisition, orders, and commitment compliance are used to identify pricing sensitivity by customer and product. By using automated data-driven analysis embedded in the business OPE paradigm, manufacturers are enabled to make better decisions and achieve optimal outcomes.
AutomationMedia, founded in 1998, is one of the most credible sources in the media, with informative content regarding automation, controls, breakthrough manufacturing, as well as operational and industrial intelligence. AutomationMedia is a valuable tool and a favorite bookmarked stop for automation and control professionals worldwide. The publisher has earned a global reputation among industrial software vendors, lean manufacturing experts, and thought leadership contributors.
For 2020 AutomationMedia will introduce a series of case study feature article profiles (usually ten real-world examples by a single vendor) as well as dedicated editorial columns in a new sponsorship program. This will allow readers to capture the breadth and insight of thought leaders’ content as a deep dive exploration of both the pain points on the plant floor and the solutions available.
According to Naeem Ismat, publisher and editor of AutomationMedia, “We are dedicated to developing the awareness and understanding about interoperability in automation by providing the best information from the best sources.” Ismat added one-time articles often fail to explore the true automation considerations which is why expanded coverage format is critical.
Ismat recently announced a formal strategic alliance partnership with manufacturing journalist, Thomas R. Cutler, founder of the 7000-member Manufacturing Media Consortium and is also the CEO of TR Cutler, Inc. This will ensure that all content is aggressively cross-promoted through both publication relations and social media. This will optimize the published content substantially.