The capital equipment industry tends to be heavily data-centric, with much information being used in R&D, supply chain management, lean manufacturing, and cost management. While this has led to operational efficiencies for many companies, very few have used this same data store to manage configuration and bundling from a List or Net Price perspective. How do we decide to bid on business effectively to maximize our win rates on customers we want, revenue,and reduce risk (insurance) expenditures?
Leveraged internal data through a rigorous data audit finding a vast amount of untapped resources in text mining, failure analytics,oil analysis, and more traditional ERP data systems that were siloed across the globe. This allowed for a whole new level of understanding once the new data architecture was implemented. Allowing for true total cost of ownership to be developed.
Utilizing the new found of the gains based on the larger umbrella project in understanding the TCO of the products we were able to develop new pricing systems around core products, accessories, spare parts, inventory management, and insurance.
This expanded the scope of the project, interviewing key clients and survey analysis to create a value attribute analysis tied to List Pricing. Further enhancing the gains, we created a quote-based system based on customization levels, value-based attribute analysis, delivery scheduling, and service packages requirements, and Pricing Bands.
Results
