Following our recent 3 Steps to Navigating Tariffs post, the PricingBrew Journal interviewed one of our own, Sean Arnold, as part of their Expert Interview series. In the interview, Sean shares critical insights for balancing speed and smarts when dealing with tariffs...
The measurable impact of import tariffs is beginning to ripple across the manufacturing and distribution landscape and financial markets. Alcoa dropped 13.3% to a seven-month low earlier this week — an indication of how aluminum tariffs are hurting, not helping, U.S. based aluminum manufacturers. Regardless of which industry you are in, chances are you will be impacted.
U.S. shipping costs have soared to unprecedented heights in 2018. While this indicator of a strong economy is good news for manufacturers on many levels, it comes at a price. In this case, approximately $1.85 per trucking mile — a 68% increase since 2010. What fuels this trend and what to do about it?
With the import tariffs announcement, there is concern of inflation in sectors that use steel and aluminum. In addition, several of our clients have seen cost increases in other commodities. Talk of inflation typically translates into panic. Here’s how we suggest you prepare for what’s coming...
You’ve most likely seen the commercials asking consumers, “What’s in your wallet?” Yet, from a business perspective, finding out what you have in your wallet isn’t nearly as important as finding out what you’re missing. That missing link is known as wallet share; and understanding what’s NOT in your wallet can lead to tremendous opportunities in terms of your business’ ability to generate profitable growth.
Getting to the "right" price for your customer can be difficult and time consuming. How do you know you are pricing correctly? How do you create consistency across your organization? And more importantly, how do you maximize your profitability without losing business?
Navigating your way through these challenges usually requires taking a step back to level-set your current processes. So, where do you start?
Striking the right balance between effective pricing strategies and company performance is often an issue because there are so many factors involved. With price being the most important lever impacting your bottom line, one major pricing mistake could risk your company’s profit potential.
How good are your BI tools at explaining your data?
A BI tool might report you lost half a point of margin last month or gained two points in revenue, but what’s driving those changes often remains a mystery.
If you’re ready to unleash the power of your data, a pricing business application like Profit Builder can be the solution you need.
Check out the video below to learn more about how Profit Builder works:
When there’s a pricing problem at your company, you know it. Still, you struggle to pinpoint what, exactly, the problem is—and how to fix it.
One critical step towards gaining visibility into your pricing issues is something we like to call “price-down reporting.” In this article, we’ll talk about what that term means, and how to use it to your advantage.
While common, overrides can be dangerous. They train your sales team and customers that price is negotiable and interfere with one of your primary goals: sticking to your pricing strategy.
If that doesn’t worry you, consider this: companies that grant high numbers of ad hoc price exceptions are more likely to experience price erosion across all customers.
An effective and mature pricing strategy includes a policy for establishing price overrides. But what would such a policy look like?