Syncron Price Software used to digitally transform parts pricing at Hyster-Yale
At Hyster-Yale Group, their goal isn’t just to build the best lift trucks possible but to create solutions that enable their customers to improve their businesses’ overall efficiency and effectiveness. Watch this video to see how Hyster-Yale Group maximized value for their authorized dealers and customers with Syncron Price.Play Video
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Sarah McLawhorn, Director, Aftermarket Solutions, Hyster-Yale Group:
For lift truck owners, total cost of ownership and productivity are the most common key metrics. Productivity directly relates to minimizing downtime through completing periodic service performed by certified Hyster or Yale technician using quality parts that are designed and rigorously tested to achieve peak performance.
Hyster-Yale Group is on a journey to digitally transform our ecosystem with the goal to improve our customers’ experience. Parts pricing can deliver critical moments throughout a lift truck operator’s ownership with the opportunity to delight when value and price are aligned.
Greg Modlin, Manager, Aftermarket Pricing & Analytics, Hyster-Yale Group:
In implementing our new system, we were looking to work with a partner that had experience in the aftermarket, as well as improve our pricing methodology with a segmentation model that provided for pricing optimization, as well kit pricing.
We were looking to increase our efficiency and proficiency and pricing operations, as well as build global pricing alignment and improve our competitive monitoring skills; and to do that in a system that was easily maintainable and updateable.
Marsha Paramore, Strategic Pricing Analyst, Aftermarket Pricing, Hyster-Yale Group:
I use Syncron for all things that are related to aftersales pricing, which include but are not limited to pricing alignment, price optimization, analysis of segmentation strategies, and the management of competitive data. The benefits from using Syncron, just to name a few, would be increased efficiency and consistency in pricing practices and strategies, great efficiency in pricing alignment, and price optimization, less dealer assistance requests, which helps us in being more strategic in our pricing practices and strategies. And lastly, and most importantly, using current technology that is cloud based and can be easily updated.
In looking to the future, we’re currently already underway with expansion of the pricing model in Europe. We’re also looking for further global pricing alignment, as well as positioning for future flexibility around net pricing, e-commerce, and service model pricing.
The right price, along with availability and quality, are the cornerstones of our aftersales promise. Being able to substantiate the price by explaining the parts value has been a key process for our team to gain trust with dealers and customers.
The Syncron solution has not only met our needs in aftersales pricing, but it has exceeded as we continually see the improved margins over our internal targets.