I am the Communications Director of SAP Global Communications.
For manufacturers in process industries like chemical and mill products including metals, building materials, paper and packaging, the time lag between issuing a product pricing list, applying customer discounts, and tallying up monthly profits has become an unacceptable eternity measured in reduced profit margins.
“Companies need to continuously capture, analyze, and allocate relevant product pricing and performance data that impacts profit margins so they can adjust pricing faster,” Nozhenko said. “For example, using our, leaders in process industries are closing the gap between price quotes and actual costs for improved profit margins. Evolving to value-based pricing reflects a business methodology shift to transparent, harmonized, and simplified models.
“During the launch phase of a product innovation, the company could adjust pricing to spark initial market uptake momentum among targeted customers,” Dr. Elser said. “What’s more, incentivizing salespeople to meet profit goals instead of only volume-based objectives positively changes how field sales builds business growth through profitability.”
“Traditional AI-based tools can help identify which customers are likelier to walk away if the price is too high, or others that are less price sensitive,” Dr. Elser said. “Generative AI-based technologies can bring in the latest customer news such as record quarterly profits or impending layoffs plus macro industry and economic trends. Maybe a price list needs an adjustment to stabilize profit margins if raw material costs increase mid-month.
Mill Products Product Pricing SAP Analytics Cloud SAP CPQ Process Industries Generative AI Accenture SAP Customer Experience SAP S/4HANA
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