5 Reasons Pricing Should Be a Priority: Handling Volatility

Wrapping up our recent pricing prioritization series, Michael Seelhorst, PhD (Director of Product) and Grant Barrett (Customer Success Manager) discuss how the increasingly dynamic economic environment has introduced pricing volatility across manufacturing and distribution.

So, what is pricing volatility exactly, and how does it affect your business? It’s a combination of two factors:

• Frequency – how often prices change
• Magnitude – how much prices change

The last few years have brought high volatility, meaning more frequent and larger changes than before – increasing the pressure to get pricing right and get it right quickly to ensure profitability.

And making the change from sweeping pricing changes to targeted, nuanced pricing for specific products and customers is the best way to start pricing more proactively to protect profitability.

Pricing volatility has continued into 2024 with no signs of slowing down soon. If you’re ready to talk to an industry pricing expert about future-proofing your business with a comprehensive, flexible pricing strategy, schedule an intro with our team.