Distribution Supplier Cost Management

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 supplier cost management use cases, including:

  1. Automate execution of supplier cost updates with necessary approval workflow: Pricefx allows for the creation of custom workflows that can be tailored to specific business needs. It enables automation of approval processes, ensuring that all supplier cost updates go through the necessary review and approval steps before being implemented. Within the solution, you can also manage supplier contracts, including tracking of pricing and other terms: supplier cost updates can be automatically triggered based on contract terms and changes, reducing the need for manual intervention.

  2. Improve margin with complete visibility of supplier cost updates, cost trends and business impact: Pricefx allows you to accurately calculate the cost of goods sold (COGS) for each product or service you offer, taking into account all relevant factors such as raw materials, labor costs, and overheads. This gives you a clear understanding of your costs and helps you set prices that are both competitive and profitable. Moreover, our price optimization module enables you to test different pricing scenarios and identify the optimal price points for your products or services. This means you can maximize your margins while remaining competitive in the market.

List of Supplier Cost management Use Cases

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

  • 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

Summary

Pricefx meets the Distribution industry needs by offering several benefits such as the creation of customized workflows, automation of approval processes, management of supplier contracts, accurate calculation of COGS, and price optimization. With Pricefx, players in Distribution can streamline business processes and set prices that are both competitive and profitable. The solution allows to identify optimal price points for products or services, maximizing margins while remaining competitive in the market.