Wholesaler case study: How effective pricing helped improve their profitability.
2018
Supporting effective Price Management (Interim, advisory project)
Situation:
Large wholesaler facing a loss in profitability over the past two years. Seeking ways to improve profitability across a series of product categories and mix of customers.
Approach:
Provided qualified resource from Minds&More in price management :
- Conducted Pricing Audit across each of the product categories
- Analyzed types of customer served and mix of sales
- Mapped customers in terms of volume and prices paid
- Developed & validated recommendations with leadership team
- Put in place new pricing guidelines, target price levels
- Prepared commercial team and migrated customers to new pricing
- Deployed sales enablement tools to help sales manage customers
- Formalized pricing governance .
Impact:
- Return to profitability (from loss of 3-4 million)
- Coherent pricing guidelines in place and used
- Sales team using sales enablers get new revenues
- Won two awards on sales excellence
Know more about our Interim Management services >
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