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6 Price Management Challenges Solved for Distributors of Electrical Supplies (and you too)

Thu, Mar 29, 2018

Managing pricing, vendor rebates and commissions continues to be a challenge for Distributors in the Electrical Supplies industry.

With an increasing number of products, and eCommerce opportunities providing a tremendous impact on buying behaviour, distributors need to be able to offer the best prices to stay ahead of their competitors.The good thing is, you’re not alone. We’ve seen that these challenges aren't just unique the electrical supplies sector, but are often also experienced within organisations in the wholesale distribution, manufacturing, and retail industry sectors.

So, what exactly are these common price management challenges that we’re talking about?

Challenge 1: Tracking and claiming vendor/customer rebates

Your organisation doesn't have a reliable system for tracking and managing vendor rebates activity. Spreadsheets don’t give you a timely or accurate picture of what rebate claims you should be making from your suppliers, and you just don’t know what’s owed to you accurately through rebates at any point in time.

Challenge 2: Price management with rapidly changing purchase prices

Your customer price lists aren't being updated quickly enough to keep up with the forces of rapidly changing market prices.

Challenge 3: Retaining margin control

Your sales reps have just a bit too much autonomy when it comes to their ability and permissions for changing customer pricing, resulting in low to negative margins.

Challenge 4: Accurately managing and calculating gross-profit based commissions

Calculating your commissions is often a real headache as there are just too many different commission rates in place for products, sales representatives, and customers.

Challenge 5: One-off purchases or specials being costed at time of sale

The prices for one-off purchases or specials are calculated at time of sale, and not at levels that allow your business to be profitable. A system that provides better visibility on margins is required!

Challenge 6: Managing your customer rebate programs efficiently

It’s a real struggle to work through spreadsheets and system reports to gain an accurate picture of what rebates you need to pay your customers; especially when it's already a challenge to get an accurate idea of what this liability is at any point in time.

So what’s the solution?

Say hello to Flintfox. Over the last 3 years, we’ve been researching and understanding the challenges that electrical distributors, such as Otra Norway, face when it comes to managing pricing, rebates and commissions.

We’ve distilled this research into an easy to read eBook that outlines solutions for all of the challenges outlined above, and will add great value to your role and organisation, whatever your industry.

 link to electrical ebook

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