Complete Story
10/07/2021
002. Max Out Margins with Strategic Pricing
Instructor: Steve Deist
Level Of Complexity: Advanced
8:30 AM - 11:45 AM
Better pricing is one of the fastest ways to put more money on the bottom line. But…pricing changes can be complex and risky. This course outlines the steps to build a world-class pricing program that will grow profit while managing short- and long-term risk.
The class covers the key areas of pricing optimization. We start with strategies and tactics for aligning your pricing with the market and your company goals. We review different approaches and concepts, including commodity leadership, value based vs. cost based pricing, and functional discounting. A properly designed pricing strategy must be based on customer segments, so this session provides a framework for effective segmentation.
Next, we look at analytical tools such as pricing basis assessment, mix vs. margin, transaction analysis, elasticity and sensitivity patterns. The data shows you where to start and how to measure impact. Good feedback loops are essential, so we cover these as well as other management tools and incentives. We review best practices for implementation based on the instructor’s extensive experience with large scale pricing projects.
The course includes individual exercises and a workbook to help students relate each topic to their own situation as we go. The workbook also contains supplemental material for ongoing self-study.
Bookstore
Achieving Effective Inventory Management – 6th Edition
Jon Schreibfeder
Achieving Effective Inventory Management, 6th Edition, based on our most recent research and up-to-date “best practices”, provides a complete guide for managing a large and often troublesome asset: inventory.
The economic challenges facing distributors today have resulted in EIM conducting a thorough review and update of the entire 5th edition. This update, coupled with discussions regarding the impact and adjustments that the current economic challenges have produced in all areas of inventory management, has produced our new 6th edition.
This book helps you achieve the goal of effective inventory management — to meet or exceed customers’ expectations of product availability with the amount of each item that will maximize your organization’s net profits or minimize its total inventory investment.
