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Industrial distribution pricing strategy for distributors

The Importance of a Pricing Strategy for Distributors

Industrial Distribution’s Video Review of White Cup’s Pricing Strategy White Paper

Anna Wells, Executive Editor, and Andy Szal, Editor at Industrial Distribution, recently took a dive into White Cup’s Prioritizing Profits with your Pricing Strategy White Paper. As shared in their video, distributors have always been encouraged to take a detailed data-driven approach to their pricing strategy.

Industrial distribution video pricing strategy for distributors

In their review, Anna and Andy emphasize WHY prioritizing pricing and having the right tools to do so, is so important for profit growth in the distribution industry. Statistics from the white paper give an example of the impact an overall single percent price cut can have on a margin outcome. Smart pricing has always been an emphasis but even more so during this pandemic with constant cost increases, labor shortages, supply chain backup, and record inflation.

How can distributors implement a new pricing strategy? The white paper encourages distributors to pursue an approach that supports both advanced technologies and human intervention.

In a poll conducted for the Industrial Distribution Annual Survey, research reveals that 45% percent of the respondents said they were not using business intelligence or analytics to make business decisions at the time. And only five percent said that the pandemic and post-pandemic business conditions were encouraging them to consider employing such tools.

In the white paper, Prioritizing Profits with your Pricing Strategy, examples are given on how to use real-time data to uncover next steps. One method is using data to help ensure distributors focus on the 20% of companies that comprise 80% of profits.

Click the link below to access the white paper in full and learn ways to get started with pricing optimization tools.

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Prioritizing Profits With Your Pricing Strategy

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