In business, as in life, you’re either improving or declining, growing or shrinking – there is no middle ground. In today’s ultracompetitive durable goods industry, you’re either evolving your business to compete faster and stronger while delivering a superior customer experience or you’re allowing it to stagnate and erode, a formula which is sure to capture the (negative) attention of your customers and shareholders.
Aftermarket Services are crucial for any OEM. According to a research conducted by Aberdeen in 2013, service parts management activities have profit margins up to ten times than those of initial product sales. Syncron, the global leader 100% focused in cloud-based aftermarket service optimization, tells us more, with Manitowoc Crane Care highlighting the importance through practical experience.
To develop a seamless inventory management system, manufacturers and dealers in a multi-echelon environment must find an enterprise-wide solution for issues with data quality, visibility and forecasting for aftermarket spare parts management.
Topics: Dealer Inventory Management
As technology continues to evolve, the prospect of smarter machines is creating a paradigm of preventative, even predictive maintenance, making it so that something no longer has to break before a technician is deployed to fix it. Innovations such at the emergence of the internet-of-things, self-servicing machines, and stronger remote diagnostic and support tools in the hand of technicians will continue to sculpt their role. While there can be a wide variance in terms of responsibilities for the technician depending on their industries, some trends enabled by emerging technology are bound to become near ubiquitous going into the future.
Topics: Field Service 2016
When it comes to defining success, it all comes down to defining your business requirements. Price management projects can be stressful and even risky if you don’t handle them the optimal way. It is important to think through the process carefully and ask the right questions.
Why do companies select consultants? Typically, they are worried that they can’t manage a project alone. Yet, technology has opened up new and empowering options in almost every industry. Today, those looking for price management tools have an array of impressive options. The right software might just preclude the need for a price consultant. However, in many situations, consultants indeed have their benefits. Let’s take a closer look at the pros and cons of going this route.
Topics: Price Management
Are you frustrated with your current price management tools? For companies to gain an understanding of the serious issues they are facing, like declining margins, they need take advantage of pricing technology and practices that increase their bottom lines.
Optimized strategic pricing offers high pricing sophistication along with high business value. To offer optimized pricing, companies must be able to utilize, analyze and apply data from drivers across the organization along with competitive data. However, companies struggle to optimize and evaluate all of the elements that affect spare parts pricing.
Now that this year is coming to an end, lets reflect on what influenced the supply chain in 2015 and prepare for 2016.
Topics: Supply Chain
Syncron’s newest release of the Business Process Platform 15.2 increases productivity for customers by updating the platform’s overall web layout. With the new enhancements and features specifically designed with the user in mind, the update includes a responsive design, customized dashboards and a new reporting feature. These new features impact the inventory management, price management and master data management software products.
Topics: Business Process Platform