Pricing & margin management - The right price at the right time
Your product prices and margins are no longer a given; they’re dynamic. Constantly changing markets demand flexibility in your price structure. Bonuses, blanket orders, surcharges and discounts, you need to be able to determine these per customer, region or product group. Pricing & margin management is becoming increasingly important for retailers, wholesalers and manufacturers alike. A good cost-to-serve calculation grants better insight into your integral cost price, which helps you determine whether your investments are sound or if it’s better to part ways with a certain product or customer.
Data analytics can also grant new insights and provide answers to what if scenarios, such as: What will happen if I make a certain product cheaper or more expensive? Which customers offer the biggest margins? Dynamic pricing policies, considering matters such as availability and local circumstances, can offer major benefits.
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Thank you to Anna Tujunen and Dooap for this guest blog post. Dooap is a mobile-first, cloud-native accounts payable solution...Read more