How to Set the Right Prices Despite Rising Inflation
Combined with the pandemic, international events created a perfect storm that delivered supply chain issues that haven’t been seen in a very long time. Since the 1970s, we have had by far the longest sustained global inflation.
Most business leaders have not dealt with macro inflation in their careers and therefore do not know how to proceed. Many refuse to pass on the increased costs to customers so as not to strain customer relationships. In addition, companies are often contractually bound to certain prices. Developing price advantages in a highly volatile environment such as the one we are experiencing now, in which commodity prices can quickly fluctuate by double-digit amounts, is more challenging than ever, especially if pricing and procurement organizations are not working hand in hand.
We invited Nicolas Magnette from McKinsey. Together with our Senior Solution Consultant Jan Barbrock, we demonstrate tactics that have proven effective in inflationary environments. Faced with rising inflation, industrial companies need to rethink pricing.
What you will learn in this webinar:
- How to use pricing as an opportunity for your business during inflation
- How relevant is the collaboration of pricing and procurement teams
- How software can facilitate your pricing process