Price alignment reveals opportunities for manufacturers during COVID-19 pandemic, according to industrial journalist, TR Cutler in the new issue of The Manufacturing Report. Read the article here.
Cutler interviewed pricing experts Dallas Crawford and Dan Barrett of QueBIT. Crawford shared that price aligning with data analytics can be done readily in real-time. The ability to concentrate on high and low volumes that fall outside a normal distribution of trend or seasonality can inform where margin opportunities exist. This is particularly valuable during the pandemic where buying patterns are in greater flux. Higher volume provides opportunities to adjust prices based on demand or to capture market share. Lower volume provides opportunities to analyze pricing, determining if market share is being lost or if the product’s lifecycle is near its end.
Barrett is convinced while the pandemic is an important driver for price aligning, it remains just one factor impacting manufacturers on the demand and supply side.
Price alignment was designed to alleviate the pain for any manufacturing organization using simple rules or trial-and-error methods to derive prices; this is especially true if corporate objectives include rapidly and repeatedly adjusting and maintaining prices at the most granular level.
The Manufacturing Report presents the latest news, events, company information, and resources in the manufacturing industry.
About TR Cutler, Inc.
Thomas R. Cutler is the President and CEO of Fort Lauderdale, Florida-based, TR Cutler, Inc., the largest manufacturing communication firm worldwide with four dozen industry experts and thought leaders on staff. Cutler is celebrating the 21-year anniversary of the Manufacturing Media Consortium. Cutler is featuring African American manufacturers in solidarity with Black Lives Matter. Learn more here.
During COVID-19 Cutler is advising manufacturers, industrial leaders, supply chain professionals, and C-level executives how to best navigate Q3 2020 and beyond.
Cutler has authored more than 8,000 articles for a wide range of manufacturing periodicals, industrial publications, and business journals. Cutler is the most published freelance industrial journalist worldwide, and more than 4400 industry leaders follow Cutler on Twitter daily at @ThomasRCutler.
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