www.quantumprofitmanagement.com Quantum Profit Management
The Element of Pricing

Randy MacLean, President — WayPoint Analytics

•Amazon Supply •competitive strategy •fill rates •customer service •distribution management best practices •opinion / commentary •management strategies •pricing strategies •AmazonSupply.com •how to compete with AmazonSupply •distribution industry intelligent pricingWhen it comes to distribution company's staying competitive with AmazonSupply, I would like to offer the following.

If you've got the first four "Elements" down, which are the elements of Ordering, Delivery, Fill Rates and Customer Service, then the element of Pricing proceeds into the background. This is because people make their decisions based more on the first four elements than they do on the price of the product.

It's pretty much expected in a mature business that your pricing is reasonable for your marketplace and is acceptable. If you've got the other elements right first, the pressure you'll have on pricing will be much lower. This can help solve or ameliorate the pricing pressure you have if you're the first choice for the customer, because you've handled the four elements that are really necessary for good customer service and good customer relations.

I encourage you to spend some time investing your energy, logistics, manpower resources, and even money in making sure those elements come together. Then make sure that you survey your customers, make sure that you're hitting the mark, make sure that you're doing what you should be doing, find out what things you're not doing that you should be doing, and make sure that even after you're at the top of your game, now or three months from now, that you're always at the top of the game in a competition that's always playing catch-up.

If you do that, pricing is going to become pretty much a non-issue and profitability is assured.

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For more information about Randy MacLean, visit: www.waypointanalytics.net

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