Stockholm, Sweden, May 23, 2014 --(PR.com
)-- Today, Aftermarket management company, Syncron, launched updates to its pricing software including dynamic lifecycle classification, new diagrams and an item segmentation wizard.
With dynamic lifecycle classification, price analysts can automatically assign the lifecycle stage to items imported into the Syncron global price management system. The functionality also validates and updates the lifecycle stage into the future. Considering the lifecycle of an item is critical to pricing for aftermarket and spare parts. The lifecycle of the equipment drives demand for its spare parts. As the equipment is replaced, demand for the spare parts also declines.
“Using the stages of lifecycle when pricing an item enables price analysts to proactively adjust to changing competitive market conditions,” says Per Almberg, Global Price Management Product Manager, Syncron. “Utilizing optimized pricing strategies at each stage helps companies improve margin and sales.”
The latest release of Syncron’s pricing software also includes an improved view of price waterfalls throughout the whole supply chain for different sales tiers. The price waterfall diagram can be used for a single customer or aggregated for a group of customers. The price waterfall is an effective tool to identify the causes of margin leakage. The diagram is a visual representation of price adjustments from the base or market price to the pocket margin, including discounts, rebates, and cost elements.
”Seeing how various price adjustments impact your margin can help you identify opportunities for profit. Price waterfall diagrams make it very easy to analyze the aggregated revenue and profit,” says Johan Östlin, Pricing Consultancy Manager, Syncron. ”Often, only a few factors influence margin. With these diagrams, you can see variations between customers so that you can take specific action to increase your profit.”
In addition, the release includes a new pricing wizard. This wizard guides the user through item classification, adding value drivers for pricing and segmentation of similar items.
The ability to dynamically identify and update an item or parts lifecycle stage and visualize the price waterfall for a single customer increases efficiency for aftermarket and spare parts manufacturers. With these enhancements, Syncron expands its service to the aftermarket, which is an area of expertise for the company. Syncron customers using version 14.1 are already benefiting from these enhancements.
Syncron is the global leader in cloud-based aftermarket service optimization. Syncron provides global inventory management, global price management, order management and master data management software to manufacturing and distribution companies around the world. Headquartered in Stockholm, Sweden with U.S. offices in Atlanta and Chicago, Syncron combines a passion for innovation, business process expertise, and a global collaborative workforce to deliver immediate and measurable improvements for its clients. For more information, visit us online at www.syncron.com
Kate McDonald, Marketing Director, United States, Syncron Inc.
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