Manufacturing and Supply Chain Expert, Lisa Anderson, MBA, CSCP, CLTD, president of LMA Consulting Group Inc., discusses pricing and profit strategies to increase the value of your business.
Best Practices in Pricing & Profits Strategies
We’ll talk about pricing and profits strategies, focusing in on ideas to bring value into the conversation for a win-win for the customer and the bottom line. Additionally, we’ll discuss several strategies to increase the value of your business including SIOP (sales, inventory and operations planning) which increases revenue, margins and working capital by better aligning demand and supply.
KEY TAKEAWAYS
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Connect value with price in the customer’s mind
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Utilize a good, better, best strategy to expand your customer base and/or increase pricing while creating value
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Think about how to implement a ‘forever promise’ with your customers to create a customer for life
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Utilize a SIOP (sales, inventory operations planning) process to drive sales growth, cost reduction and working capital improvement
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The more high tech we go, the more high touch becomes essential
ABOUT LISA ANDERSON
Manufacturers, distributors and operational services hire Lisa to provide expertise and advice on maximizing the customer experience and enabling profitable, scalable, dramatic business growth. She works with companies to create bold customer promises and profits simultaneously and rapidly.
Published in AZ Growth Advisors on June 7, 2019