This updated pricing format was first developed in 1999 for bearing and power transmission manufacturers and distributors. The two associations behind it are pushing its value to other product distribution channels as well. The bottom-line results of automating the process of capturing increasingly frequent price changes can be dramatic.
More frequent price changes go hand-in-hand with the ever-rising cost of raw materials such as oil and steel. Doug Savage, president of Bearing Service Inc., says instead of annual price updates, which had been the norm, he now has to deal with them at least twice a year. But instead of the 40-50 man hours making those changes might have taken in the past, he has adopted a pricing format that lets his company load the updates in as little ...
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This updated pricing format was first developed in 1999 for bearing and power transmission manufacturers and distributors. The two associations behind it are pushing its value to other product distribution channels as well. The bottom-line results of automating the process of capturing increasingly frequent price changes can be dramatic.
More frequent price changes go hand-in-hand with the ever-rising cost of raw materials such as oil and steel. Doug Savage, president of Bearing Service Inc., says instead of annual price updates, which had been the norm, he now has to deal with them at least twice a year. But instead of the 40-50 man hours making those changes might have taken in the past, he has adopted a pricing format that lets his company load the updates in as little ...
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