The Top 4 Pricing Functions Pricefx Offers Manufacturers

August 8th, 2022

Iain Lewis & Sara Gansert
Solution Strategists at Pricefx

The Top 4 Pricing Functions Pricefx Offers Manufacturers  Manufacturing industries are currently dealing with price increases in everything from steel to produce, wooden pallets and everything in between, and the increasing prices in raw materials have are eating into their margins. Manufacturing companies are also reeling from the impact of work shortages and increased labor expenses. Additionally, supply-chain woes are placing pressure on manufacturers to raise product prices as demand for many goods rebounds with the reopening of the post-CoVID economy. In dealing with it, guesswork, hunches, and spreadsheets were okay once upon a time, but times have changed. What...

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Key Pricing Metrics Manufacturers Should Be Using

March 24th, 2022

Jose Paez
Solution Strategist at Pricefx

Key Pricing Metrics Manufacturers Should Be Using Terms like “major disruption”, “volatile”, and “all-time high” have become so commonplace over the last few years that they’ve lost their meaning. We’ve learned by now that we have to expect the unexpected and that we have to design our businesses around the idea that everything could upend overnight. If we’re not able to adapt, we simply won’t make it. And this couldn’t be truer than for those in the manufacturing industry.  At Pricefx, we have over ten years’ experience helping companies in the manufacturing industry develop successful pricing plans and to respond...

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Strategic Price Planning For The Manufacturing Industry

March 23rd, 2022

Jose Paez
Solution Strategist at Pricefx

Strategic Price Planning For The Manufacturing Industry The pace of change in the market is unlike anything we’ve ever seen before. And while the manufacturing industry has seen a reasonably fast recovery, industry optimism has been checked by the fear of further disruption and risk.  Labor and raw material shortages, sanctions, major transport disruptions, demand outpacing supply, overreliance on low inventories, and hollowing out of domestic capability have all been pushing the price of production up. And the course of history is keeping us permanently on our toes.  After a decade helping manufacturers develop successful pricing strategies through technology and...

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Is Managing Value Perception Essential in the Manufacturing Industry?

June 15th, 2021

Jose Paez
Solution Strategist at Pricefx

Why Is Managing Value Perception Essential in the Manufacturing Industry Warren Buffett once said, “Price is what you pay; value is what you get”. Value can be seen as everything in sales. You’re no longer just buying an item, or thousands of items as the case may be. You’re paying for the value that purchase provides you with. The opportunity for increased business, the improvement in efficiency in your processes, the reduction in cost or rework, the added features your product or service will have that will enable your organization to expand to new markets, or maybe even all of...

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5 Ways B2B Manufacturers Can Successfully Adopt B2C Strategies 

June 8th, 2021

Manuel Pfeifer
Senior Solution Strategist at Pricefx

How B2B Manufacturers Can Successfully Adopt B2C Strategies Over the last few years, we’ve seen a wave of B2B companies adopting some of the profit-driving strategies of their B2C cousins, and to great success.   Let’s explore some of the growing trends.  1. Skipping Steps in the Value Chain   Traditionally, customers who wanted to buy direct from manufacturers were politely but firmly turned away. But with the growth of e-commerce and platforms like Amazon, Direct to Consumer (D2C) selling has become an opportunity for manufacturers to connect directly with their end customer.  Today, customers do their research. Not only will a...

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Stevie Awards Manufacturing Solution Business Award Winner: Pricefx

April 29th, 2021

News&Blog
Admin at Pricefx

Business Solution for Manufacturers: Pricefx Wins Stevie Awards Pricefx has just been awarded the Silver Stevie® Award in the 2021 US Business Awards® in the category of manufacturing solution. The award was determined by the average scores of judges comprising of executives from around the world. Out of the over 3800 submissions, we’re proud of the fact that experienced leaders view Pricefx’s solutions as drivers to help manufacturers leverage pricing opportunities within their organization. Last year, Pricefx won 2 Stevie awards, making this the third award in two years. A Little About the Stevies: The American Business Awards are the U.S.A.’s premier business awards program. All organizations operating in the U.S.A. are eligible to submit nominations – public and private, for-profit...

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Insight

How the Discrete Manufacturing Industry Can Learn from 2020 and Prepare for 2021 

March 15th, 2021 (Updated 03/31/2021)

Duncan Hendy

What the Discrete Manufacturing Industry Can Learn From 2020 to Plan for 2021  As we head further into 2021, it’s clear that although some things are going back to normal, that “normal” might be further off than we anticipated. So, what’s someone in the manufacturing industry to do?  That’s why we asked the experts what they think are the biggest lessons and windfalls of 2020 and what companies like yours can do to still be successful in 2021 and beyond.  In Your Opinion, How Has 2020 Changed the Discrete Manufacturing Industry?    Maggie Buckland – Big Data Pricing  In 2020, the...

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Manage

How to Reduce Overhead & Risk in the Manufacturing Industry

September 2nd, 2020 (Updated 03/24/2021)

Duncan Hendy

Reducing Overhead and Risk for the Manufacturing Industry Considerations are vast in the reduction of overhead and risk for the manufacturing industry. Especially when you’re looking at adapting your business to dynamic market shifts. We are here to help simplify the process. What Is Overhead and Risk in the Manufacturing Industry? In simple terms, overhead is the sum of ongoing business expenses not associated with the production process. Manufacturing overhead such as plant costs, salaries Selling and administrative costs Corporate salaries Risk refers to the risks incurred by manual processes, which can be broken down into three key areas. These...

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Flexible

Ready for Anything: Improving Business Agility Through Pricing in the Manufacturing Industry

July 16th, 2020 (Updated 03/24/2021)

Duncan Hendy

How to Improve Business Agility in the Manufacturing Industry The discrete manufacturing industry belongs to an increasingly volatile and uncertain environment, where rapid and frequent change is becoming the norm. So, it’s time for companies to seriously investigate how to improve business agility. Business agility is the ability of a company to rapidly respond to changes in the market. It’s a company’s ability to pivot and adapt, and determines whether it weathers the storm – be it changes in the market, demand, competition, supply chain, regulations, technological breakthroughs or global pandemics. But how do you improve business agility when your...

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