Changing times are status quo in the automotive parts marketplace (for both OE and Aftermarket), as is evidenced today, and they arefilled with shifting challenges. Managing and adapting to those challenges take many forms in today's ever-changing business times.
Demand is changing and continues to change. From the longer-term shift from DIY to DIFMto IOT,the landscape is changing from vendor-managed inventories to taking on competitors that seem to change their prices daily. Pricing strategies must adapt and be seamless across your channels. The critical function of managing all elements of your price waterfall is landing more and more in the pricing department. Having integrated solutions that provide business intelligence and the ability to respond in real-time to changing market conditions areno longer just a “nice to have”.
Material costsfor suppliers/producers and resellers are constantly changing and remain one of the largest elements in your pricing waterfall. Staying current on what those changes are, and how they impact your bottom line, is critical to maintaining product line profitability – from category down to SKU level. While you may not be able to exact control over inputs to costs, adapting to conditions of shifts in material costs, inventory changes, or other product lifecycle implications, can still be leveraged. Revenue and/or margin erosion should not be an unmanaged byproduct and can be overcome.
In this webinar, Jeff will:
1. Identify common challenges automotive parts manufacturers and distributors face in pricing parts and avoiding margin erosion.
2. Discuss the changing landscape and critical capabilities for manufacturers, suppliers, and distributors, now and in the future.
3. Provide clear tactics and price strategies that will enable you to:
Stabilize or reduce margin erosion today.
Improve your pricing positions.
Future proof your businesses to avoid contributors toprofit leakage.