Distribution Price Setting

Owned by Mike Deskis
Jul 17, 2024
2 min read

Overview

Within the distribution industry, Pricefx's pricing software can be used for a variety of price setting use cases, including:

  1. Dynamic pricing: Pricefx's software can help distribution companies monitor market conditions and adjust prices accordingly. This can include tracking competitor pricing, market demand, and other external factors to ensure that prices are competitive and reflective of market conditions.

  2. Forecasting: Pricefx's software can help distributors manage, simulate and improve pricing structures to ensure price realization by analyzing potential impacts on various price change scenarios.

  3. Price strategy design: Pricefx's software can help distribution businesses design new and tailored pricing strategies at the click of a button with little to no configuration needed, thus empowering pricing persons to make faster decisions that can be implemented efficiently without wasting time and money on outsourcing coding to CE’s. This significantly reduces the workflow, allowing for more time spent on strategising and effective pricing.

List of Price Setting Use Cases

Below are the Price Setting Use Cases that are provided by the Pricefx solution for the Distribution Industry:

PRICE SETTING

  • DISTRIB 01 - Automate execution of supplier cost updates with necessary approval workflow

  • DISTRIB 02 - Improve margin with complete visibility of supplier cost updates, cost trends and business impact

  • DISTRIB 03 - Quickly calculate and publish new price lists based on supplier cost changes or changes to pricing strategy.

  • DISTRIB 04 - Improve price realization by simulating the impact of mass price change scenarios.

  • DISTRIB 05 - Design and deploy new pricing strategies using drag-and-drop “no code” configuration

Summary

Pricefx's pricing solution is beneficial for distribution companies as it can assist in various price setting use cases from helping to monitor market conditions and adjusting prices accordingly through dynamic pricing to forecasting to ensure price realization by analyzing potential impacts on various price change scenarios. Even more so, the solution can help design new and tailored pricing strategies at the click of a button with little to no configuration needed, empowering pricing persons to make faster decisions that can be implemented efficiently maximizing revenue growth and profitability.