TOKYO, Japan – 8 July, 2015–Syncron International, an aftermarket optimization company, announced today that Yanmar Co., Ltd., a diesel engine manufacturer, will begin using its price management software.
The Syncron solution will help Yanmar grow revenue by pricing products in a way that is more logical to the customer using item characteristics like size, diameter, horsepower or length. In addition, Yanmar will capture more sales by offering items that are priced appropriately for the market and the competition.
“Global Price Management from Syncron is a great tool that brings efficiency and effectiveness to the pricing process,” said Fumihiro Kobayashi, Managing Executive, Global Customer Service Unit at Yanmar. “With such a powerful tool, it becomes our duty to find and leverage the software’s full capability. Therefore, every person who has a role within this project must be dedicated to implementing the solution to the fullest and meeting our goals.”
The software will replace a home-grown solution, which is currently used within the company’s Parts Division of the Global Customer Service Unit. The software will support spare parts pricing for approximately one million items used in three major business areas.
Yanmar selected the solution, in part, because of Syncron’s strong customer references. In addition, the ability to simulate and visualize the impact of price changes was a factor in the selection of Syncron as the solution provider.
“Our analytical solution enables users to assess the effects of strategic pricing and take decisive action. Yanmar can use our software to perform a thorough investigation of why margin loss is occurring,” said Katsuto Ochiai, Managing Director, Syncron Japan. “The software also allows the user to create graphical representations of price and potential price changes. The ability to simulate the outcome of changes will allow Yanmar to evaluate business performance with the click of a mouse.”
With the ability to easily create pre-populated reports, Global Price Management from Syncron will allow Yanmar to achieve project goals, which include:
- Segmentation and description of parts that will be controlled by the software
- Need for a strategic pricing format for application in global market so that the demand-supply curve can be established for each part
- Create new pricing policy, which accounts for both competitive and market price information
- Increase governance of price among distributers and dealers, regardless their locations
- Improve the parts pricing process and operational efficiency
“It would not be possible for us to achieve any of these things without Syncron’s dedicated support,” said Kobayashi. “I expect that Syncron will share the experience and knowledge that they’ve gained in similar implementations with us.”
The new pricing solution will run out of the Syncron data center, which is located in Stockholm, Sweden. Yanmar will access the Software-as-a-Service (SaaS) through the Internet starting in October of this year.