How do you balance lost opportunities and stockouts? 1. Use the Critical Ratio: a. There is a sweet spot where holding costs out-weigh lost opportunity and margin. 2. Conduct ABC Analysis: a. Stockouts incur costs such as lost revenue, dissatisfied customers, rush orders, and damage to reputation and brand image. As such, service levels for "A" items should be weighted more than "C" items. 3. Implement an Emergency Response Plan: a. Before inventory levels drop below the threshold set by the above, develop contingency plans and emergency response protocols to address stockouts quickly and minimize their impact on customer service. #whatgoodlookslike #inventoryanalysis #inventorymanagement
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Most Sought After Profit Improvement Expert, Value Pricing Expert, Professional Speaker and Author
Value pricing is a superior method of pricing. It’s fairer to both you and the client and it gives them more value and you a higher price. But what does value pricing really mean? Find out in this blog: https://lnkd.in/d2Yjx3Ch Or you can watch the video here: https://lnkd.in/d_XGjfaS
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Inventory Overview - Top Features, Pros & Cons, and Alternatives Start using Inventoryy 👉 https://lnkd.in/e5T7MGg8 https://lnkd.in/eciFXbVj
Inventory Overview - Top Features, Pros & Cons, and Alternatives
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Is your product's pricing turning customers away faster than you can say 'sale'? 🫢 Fear not! Conjoint analysis is here to save the day. 🦸 Learn how to master the art of pricing in our article - trust us, it's a game-changer! https://hubs.ly/Q02qlrmP0 #PricingResearch #PricingTechniques #VanWestendorp #GaborGranger #ConjointAnalysis
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Chances are, your organization is overpaying on rebates and invalid rebate claims, resulting in thousands of dollars lost and skewing the results of your hard work. We can help you uncover hidden savings in key areas such as rebate overpayments and invalid claims by using our trade spend analytics solution. With iTradeNetwork, you can save time and resources while maximizing your profits. See how much you could be saving by using iTradeNetwork. Learn more by signing up for a ROI assessment now: https://lnkd.in/g76S-n4Q
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Today we publish our Q1 report for 2024. Read the full report ⬇ https://lnkd.in/gGREBDC9 #hmsnetworks #industrialict
Interim report 2024, January - March
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The main objective of the closed product review is to assess whether customers are receiving good outcomes. As this is a new requirement there is likely to be data gaps, especially where data is older or relationships with others in the distribution chain are no longer in place. The Dear CEO letter, issued in May 2024, makes it clear that firms are expected to take reasonable steps to obtain the information they need to properly assess the outcomes received by customers. Have you identified any material data gaps for your firm? You may be interested in our closed product review template and/or Board Report template. https://lnkd.in/eHWKd8de
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For two decades offering the best and most up-to-date Pricing and Revenue Management solutions to the main companies in South and North America, including USA and Canada.
Today I had one more article published at PPS's Pricing Advisor. This time I am talking about Price Elasticity. Below the transcript of the title and my introdcution and the link with the entire article (for those with access to the plataform) are attached in this post. "Understanding Price Elasticity Models: A Comprehensive Cutting-Edge Guide" by: Frederico Zornig Price elasticity models provide valuable insights into consumer behavior and market dynamics. By quantifying the responsiveness of demand to price changes, businesses can develop more effective pricing strategies, optimize promotional efforts, and drive revenue growth with dynamic pricing. Understanding and applying price elasticity concepts empower businesses to make informed pricing decisions in an ever-changing marketplace, as the author explains. Frederico Zornig ([email protected]) is the CEO of Quantiz Pricing Solutions. #pricingoptimization #elasticity #pricing #RGM https://lnkd.in/d43yWsui
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Dive into the essentials of ending inventory and its impact on your business’s financial health. Discover how accurate inventory management can drive success. https://lnkd.in/gRBKdEJD #InventoryManagement #BusinessGrowth
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