Maximizing Supplier Advantage with Smart Pricing Strategies
In today's very competitive market, suppliers are continuously challenged to optimize the price models to maximize profitability and maintain the market share. With the emergence of advanced technologies, it has been necessary to take advantage of smart pricing techniques for suppliers to unlock new price streams. This article shows how AI-powered smart prices and dynamic price tools can keep their right part of the pool while in front of its competitors. Understanding the Benefit Pool and Its Importance for Suppliers The profit pool concept represents the total financial value created in a supply chain, which must be distributed effectively among participants to ensure sustainable development. For suppliers, a strategic pricing mechanism is needed to capture an adequate part of this pool outside the traditional stable pricing models. By integrating dynamic pricing methods, suppliers can adjust the prices in real time, reflect the demand for the market, competitive behaviour and...