Where to Look for Hidden Profit in your Spare Parts

There’s no shortage of things to think about when it comes to spare parts pricing. But despite the increasing complexity of catalogs, distribution networks, and markets, the majority of aftersales service organizations focus on the roughly 10% of products that make up the biggest portion of revenue. This may be because they’re using legacy systems […]

Why Use Spare Parts Price Optimization Software?

Along the lines of my recent post on why you should use spare parts inventory management software, today we’re talking about another key topic for OEMs. We’ve been diving pretty deep into the benefits of price optimization and segmentation here on the blog this year, but maybe you’re still wondering about the basics: Why should […]

Why Your Spare Parts Inventory Could Be a Gold Mine

Fallout from the COVID-19 pandemic made 2020 a tough year for everyone. The economic downturn has impacted aftersales service from every angle, with supply chains disrupted, sales of finished goods dropping, and many OEMs left looking for ways to make up for lost revenue. Strategic spare parts pricing offers a great opportunity to increase revenue […]

Back to Basics: The Fundamentals of Price Optimization

Manufacturing executives around the world are facing a litany of business challenges brought on by the coronavirus pandemic. And as organizations shift to focus on customer retention opposed to strictly new product sales, optimized after-sales service operations are becoming more important than ever. According to Deloitte, “changes in customer demands, increasing market maturity, cyclical fluctuations […]

New Resource Center Empowers Manufacturers to Emerge from Economic Downturn More Resilient than Ever

Around the world, families, communities and businesses are trying to navigate the uncertain times that COVID-19 presents. In addition to focusing on the health and wellbeing of employees, the ever-changing and unpredictable market landscape is forcing businesses to make important, strategic decisions quickly. We have already seen incredible support and initiative from large manufacturers to […]

Maximizing Service Business Profitability and Customer Experience in Economic Downturns

Manufacturers around the world are currently facing an unforeseen economic downturn, creating feelings of uncertainty and stress for both employees and customers. However, I believe when challenges like these present themselves, as leaders we must act quickly to instill feelings of security and productivity not only for our teams, but also for our end-users. So, […]

Genuine vs. Grey Market Parts: How Manufacturers Can Win

The legality of grey market parts continues to be blurry. Several court cases in recent years have ruled both in favor and against the original equipment manufacturer (OEM), leading to no clear resolutions on how to successfully navigate and fight against the grey market and its negative implications. The grey market continues to be a […]