Can our pricing system support our future needs?
Charlie Burton, Pricing Director at Brakes, asked that question when he started to build a pricing team dedicated to creating a new pricing model for the company. Brakes, a leading wholesale foodservice supplier in the UK, needed to be more flexible to adapt their business to changing market conditions.
Charlie and the Brakes team faced the challenge of a big margin crisis triggered by food inflation. The solution proposed was a new, more structured way to maintain the margin. Brakes needed to build forecasting logic by including their customers to help predict future price changes. At the beginning of the journey, Brakes could predict what the product price would be for the next 12 months with a comprehensive spreadsheet, logic and data for more than 400 customers. But, this effort was manual and prone to errors. Brakes needed a pricing solution that could take care of automation and forecasting right within in their SAP environment–without the need for complex interfaces.
With over 20 years of pricing expertise in Retail and Food Wholesale Distribution, Charlie shares the story of Brakes journey. He and his team built a new commercial pricing model with the help of pricing solutions by Vistex. Developing this model has been key to allow Brakes to successfully adapt to fast-changing markets. With the support of Vistex, Brakes uses its pricing strategy to keep their business ahead of the curve.
Watch the on-demand webinar now to learn more about…
- Brakes reasons behind the implementation of a new pricing model
- Insights on their enhanced pricing agility to address volatility in the market
- Better handling of margin erosion and full visibility of costs
- Why price management is a key factor of success and surviva