Pricing for the Chemical and Process Manufacturing Industry
In the challenging Chemical and Process Manufacturing industry today, pricing strategies are a science. A successful approach requires targeted goal setting, proactive pricing, constant monitoring and using data to pivot. We can help you get it right.
Bottlenecks from global conflict, shutdowns and shortages are compressing margins. Some of the added costs are passed on to customers, but manufacturers are being forced to revisit their product mix.
Raw Material Shortage
Feedstock shortages are driving up costs and limiting manufacturers’ ability to produce at full capacity. Filling orders is taking longer and creating a backlog of demand.
Rising Costs and Inflation
The soaring cost of energy and materials isn’t just making shipping and production more expensive; it’s also worsening global inflation and increasing the cost of labor.
There was already a labor shortage and skills gap in manufacturing before the pandemic, and it continues in greater numbers. Manufacturers are struggling to keep operations churning without fully staffed floors.
7 Mistakes Chemical and Process Manufacturers Need to Stop Making Right Now. And What to Do Instead.
Even at the best of times, most sectors in the Chemical and Process industry only see modest growth. Making rash moves in our current condition could undermine price, profitability and recovery.
Price Consistently Across the Value Chain and Give Your Sales Team the Tools to Negotiate Confidently
Full pricing transparency minimizes risk in complex value chains. With complete data and the analysis behind it, sales teams – wherever they’re located – can quote, discount and offer rebates accurately, without margin leakage.