RS Components & Price f(x) – A Project Launch for Pricing Process History
Ever wanted to know what a dream pricing project kick-off looks like? Look no further than the recent project launch that we had with RS Components. And what a launch it was – cake, good cheer and excited anticipation for what our products can do to automate their pricing processes.
The goal was to fully automate their pricing processes from an off-line Excel based solution to an integrated Price f(x) system. This meant using PriceBuilder to efficiently model RS Component’s different strategies across the several categories, technologies, brands, and markets worldwide. This would help to strengthen RS Components’ pricing capabilities both in terms of price setting and price analysis.
The strategies make use of various internal and external data sources and before any actual price changes are made, they can be modeled, and their impact simulated. After approval, the prices go downstream to ERP and E-commerce systems after which they loop back into Price f(x) on the executed transactions that can be analyzed using the PriceAnalyzer module. The impact of this is monumental for companies with several variables to take into account because decisions can be made in a timely manner.
So, what was one of the reasons that RS Components chose us to begin with? Price f(x), “is a young dynamic company not just somebody who had a stayed product which needed updating”, said Gary Malpas,
Commercial Analytics Manager, and the project’s business owner. Thank you to the RS Components teams. We could not be happier to have had such a successful launch and are excited to see great results.
If you would like to find out how Price f(x) can help you automate your pricing process, contact us here.