Robotics & Automation News

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pricing

Automation and the Fashion Industry: A Quiet Revolution

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Many believe that we have recently entered the Fourth Industrial Revolution, which is characterized by new modes of design, production and marketing. Being one of the world’s largest and most innovative industries, fashion is at the center stage of this shake-up.

This is not surprising, since fashion is big business. In the UK, for example, the fashion industry is valued at £26 billion, making it the country’s biggest creative industry.

From algorithms that detect what we will be wearing next season to targeted pricing, here are just a few ways automation technology is transforming the fashion industry. [Read more…] about Automation and the Fashion Industry: A Quiet Revolution

Important 2020 Trend: Price Alignment Automation

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By Thomas R. Cutler

Automation solutions have been adapted and adjusted promoting the ease of setting and managing pricing boundaries for manufacturers.

When corporate objectives include rapidly and repeatedly adjusting prices at the most granular level, automation must be designed to alleviate the pain by using simple rules to derive prices.

Previously, most industrial business decision-makers feared an extensive implementation time, complexity, and significant costs for pricing technology. [Read more…] about Important 2020 Trend: Price Alignment Automation

Blue Yonder and Uber Freight partner to develop ‘dynamic pricing discovery solution’

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Blue Yonder and Uber Freight have agreed a partnership designed to help businesses build efficient and transparent global supply chains at a crucial time.

Digital transformation initiatives have accelerated over the last few months, as enterprises that ship goods embrace flexible operations to keep up with shifting demand.

Quickly recovering from supply shortages and creating a resilient business for the long term requires a well-managed, digitized supply chain, including freight transportation. [Read more…] about Blue Yonder and Uber Freight partner to develop ‘dynamic pricing discovery solution’

Automation Drives COGS Reduction for Small and Mid-sized Manufacturers

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By Mike Franz, founder and creator of the WorkCenter from ManufacturingPower

Automated access to summary cost and margin information for each SKU delivers light SaaS “MRO/tail-spend” price transparency, returning a minimum 11-14 COGS (cost of goods sold) reduction to the bottom line.

Every manufacturer must pay attention to costs and competitors’ pricing. For better or worse, purchasing professionals are rewarded for capturing the lowest price; few have the time to scour the internet for ever RFQ to see if the bid offered is indeed competitive. Measuring value with price experiments is not realistic.

Full-time competitive pricing professionals could work 24/7 to generate statistically valid and accurate data. For the small and mid-sized manufacturer, the solution is to automate price comparison functionality. Until recently this was prohibitively expensive and often too complex. Automating costs and competitive prices can be achieved in a $5,000 per year SaaS solution. [Read more…] about Automation Drives COGS Reduction for Small and Mid-sized Manufacturers

Automation 2020: Manufacturers Adopt Overall Pricing Effectiveness

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By Gabriel Smith, chief evangelist at Pricefx

Eliminating pricing waste: Overall Pricing Effectiveness (OPE)

There is an even more effective means to improve profitability than variable cost reduction.

In fact, according to many studies, improving variable cost typically results in a <8 per cent improvement in profitability whereas improving price results in an >11 per cent improvement in operating profit.  [Read more…] about Automation 2020: Manufacturers Adopt Overall Pricing Effectiveness

AI driving actionable sales intelligence in manufacturing

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By Barrett Thompson, Zilliant Business Solutions

The manufacturing plant floor has been automated and optimized for years; yet revenue and profit growth remain stagnant.

Seemingly everything has been process-improved with lean manufacturing principles; however, the cost of doing business remains high and the C-Suite continues its demands for an increase in revenue per transaction and gross margins.

Two functions at manufacturing organizations are prime for process improvement:

  • selling; and
  • pricing.

A closer look at the selling function reveals that despite reducing labor costs via transformational automation solutions, sales teams still manage large, antiquated portfolios. They are expected to increase their book of business while retaining current customers. [Read more…] about AI driving actionable sales intelligence in manufacturing

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