Manufacturing journalist TR Cutler recently spoke with QueBIT PriceAlign experts, Dallas Crawford and Dan Barrett to discuss the best-in-class pricing solution. Cutler’s article appears in Enterprise Technology Review and can be read here.
In weeks, the automated pricing data ensures that manufacturers are able to visualize customer segments driven by variables that shape demand, such as demographics, allowing for more targeted and dynamic pricing adjustments. Only through automated price alignment are mid-sized manufacturers able to raise pricing strategies to new levels of sophistication, achieving dynamic pricing based on a variety of factors, and understand price elasticity across different customers, products, or regions.
Crawford suggested that PriceAlign’s Machine Learning models can be more adaptive than typical time series models in the pandemic environment. Adding more qualitative and timely input variables (like fuel costs) allow the model to be more contextual and tolerant to the aberrant data collected during this unique event. The pandemic gives manufacturing organizations, which embrace the PriceAlign technology, the opportunity to study and model the effects to be better prepared for future events.
Barrett is convinced while the pandemic is an important driver for price aligning, it remains just one factor impacting manufacturers on the demand and supply side.
Enterprise Technology Review provides news, views, and advice on technologies used in business beyond Information Technology.
About TR Cutler, Inc.
Thomas R. Cutler is the President and CEO of Fort Lauderdale, Florida-based, TR Cutler, Inc., the largest manufacturing communication firm worldwide with four dozen industry experts and thought leaders on staff. Cutler is celebrating the 21-year anniversary of the Manufacturing Media Consortium. Cutler is featuring African American manufacturers in solidarity with Black Lives Matter. Learn more here.
During COVID-19 Cutler is advising manufacturers, industrial leaders, supply chain professionals, and C-level executives how to best navigate Q3 2020 and beyond.
Cutler has authored more than 8,000 articles for a wide range of manufacturing periodicals, industrial publications, and business journals. Cutler is the most published freelance industrial journalist worldwide, and more than 4500 industry leaders follow Cutler on Twitter daily at @ThomasRCutler.
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