The client is one of the largest dealer and importer group in Norway. They provide services in the automotive supplier industry creating customer-specific product solutions. They have a global presence in 19 locations.
With the current price trends in the Automotive Industry, our client couldn’t keep up with the shift as it is dependent on many factors like the sourcing price, the transactional market price and more. The client couldn’t understand why they failed to increase their profit margin.
Our solution gives the client the best optimum prices, based on competitor analysis, situational intelligence, historical trends, and making price prediction using machine learning and data analysis. It helps the sales team respond better to real-time changes and even stay ahead with their predictive forecast.
The customer was able to achieve significant efficiency and value in its trade promotion management related processes, and derived the following benefits:
● Better Target Price generated based on Traditional Pricing Strategy
● Margin optimization is conducted based on multiple price components
● Absence of segmentation in Pricing Rules
● Prediction Forecasting prices to stay ahead of the market prices.