We helped a materials manufacturer implement successful price changes driving over $125M in price over a 3-year period.
A materials manufacturer was operating with over half their business constrained by multi-year contracts. This was hindering their ability to conduct price adjustments despite increasing costs and significant inflationary pressures. The absence of streamlined tools resulted in burdensome manual work and missed opportunities during price reviews.
INSIGHT built and implemented a dynamic pricing model and a robust negotiation strategy to immediately execute price adjustments on newly expiring contracts. Then, we conducted market research to set new market-relevant list prices. The pricing model and updated list prices were integrated into a quoting solution the Client uses for ongoing price reviews as well as new business. Additionally, INSIGHT built and deployed contract standards, review processes, and measurement goals with dashboards for ongoing management and the ability to track progress and opportunities.