Railroad pricing managers and analysts had a large and growing number of contracts and individual rates. Management was concerned that they did not have the proper processes, measures, metrics, and tools to support good pricing decision-making given the workload.
- Assessed the effectives and efficiency of current pricing processes
- Profiled the results of their pricing processes vs. what was expected
- Developed data visualization tools and the processes to use them to:
- Identify and correct mis-priced business - both too low and too high
- Develop market-based pricing strategies, structures, and levels
- Respond to customer-specific pricing opportunities
- Developed measures and metrics for managing the results of the pricing processes
Successfully improved pricing efficiency and effectiveness. Client pricing managers and analysts became better able to implement pricing strategies. Client became more adept at managing pricing beyond simple price/volume trade-offs. Client increased yield and margins while not sacrificing volume.