Latest Event Updates

Strategic Pricing Events Digest – May 2014

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Our Event Digests are a compilation of info about upcoming events hosted by SPA, 3rd party events where we will participate, and highlights from recent ones.

Upcoming Events

June 4
SPA Client Interview and Strategic Pricing Overview Webcast

Join us for a webcast to learn how Kellermeyer has leveraged SPA’s strategic pricing tools to increase profits significantly. This 60-minute webcast will start at 2:00 PM EST and will feature Jill Kegler, President and CEO at Kellermeyer Company which is a 60+ year old business specializing in distribution of janitorial supplies and industrial packaging. She will share Kellermeyer’s journey to pricing excellence, how they are learning to leverage science-based strategic pricing tools to increase margins, her personal experiences with the tools, and advice that will provide you with a wealth of practical knowledge! Click here to read the Kellermeyer testimonial.

SPA’s Dave Lienert will also discuss how our solutions, which leverage experience from working with hundreds of companies to drive 2-4 margin point gains on affected revenue with minimal customer pushback, can help your company. Attendees will learn how to address the following all too common issues and opportunities for increasing profitability:

  • Customer relationships focused on product/service value, not price
  • Identifying and capturing available margin premiums
  • Identifying price-sensitive products and services
  • Improving sales reps’ confidence in prices
  • Stopping undisciplined discounting
  • Tracking metrics for sales force accountability
  • Improving pricing consistency and fairness

Click here to register

June 6
SPA “Mastering Strategic Pricing in a New Economy” Seminar at the Hyatt Regency O’Hare in Chicago, IL

Learn how leading manufacturing and distribution executives have unlocked the keys to faster growth, stronger customer relationships, and market-leading profitability. This big-picture seminar is focused on strategic topics of importance to the owners, CEOs, CFOs, and general managers of distribution and manufacturing companies. Experts will address the topics essential to accelerating the customer value proposition, competitive positioning and market value of any distribution or manufacturing business. The seminar addresses the strategic, analytical, process and cultural issues that are fundamental to maximizing shareholder value. The seminar will focus on the high-level, strategic and structural issues that are easily neglected in the hustle and bustle of daily business demands. It will help you to re-focus your organization on the drivers of economic value.

Attendees will learn best-practice strategies and tactics to:

  • Achieve faster growth and market-leading profitability
  • Develop stronger customer relationships
  • Maximize your company’s valuation
  • Drive real change in sales force culture
  • Break the cycle of undisciplined pricing
  • Build a sales process based on customer value
  • Quantify and Communicate Customer Value
  • Achieve pricing flexibility with discipline
  • Improve operational efficiency with reporting and analytics

Click here to view the complete seminar agenda

Existing clients can also attend a free 3-hour training workshop June 5, 2014 that will cover essential analytical, process, metrics, and cultural issues surrounding Strategic Pricing.

Click here to view the June 5 training workshop agenda

Space is extremely limited for this no-cost seminar so contact Sheri Morford at Sheri.Morford@strategicpricing.com, call her at 216.455.1544, or click here to register online soon.

July 2
Join SPA for a Pricing Strategy Seminar at the Ritz Carlton to be held July 2 in San Francisco, CA.

July 30
Join SPA for a Pricing Strategy Seminar at the Hotel Bristol in Vienna, Austria.

September 17-19
SPA will be participating in the Eclipse User Group Conference at the Hilton Atlanta Airport Hotel in Atlanta, GA.

Past Events

May 7
SPA Client Interview and Strategic Pricing Overview Webcast

This webcast featured Dave Sleppy, Pricing Administrator at Triad Technologies, LLC, a long-standing and well-respected industrial distributor, who shared Triad’s journey to pricing excellence and how they have implemented a science-based strategic pricing approach to increasing margins.

Triad’s experiences and advice that provided attendees with a wealth of practical knowledge included the following:

Without SPA Tools

  • Inconsistent pricing to the customer
  • No approval process for customer price qualifications
  • No systematic reviews of pricing effectiveness
  • Manual price overrides
  • Extensive manual editing of order line item pricing

With SPA Tools

  • 90 days to results
  • Improved pricing discipline and consistency
  • Pricing architecture the foundation for margin improvement
  • Transition from cost-plus mentality to pricing on market value
  • Several persons on our sales staff have seen significant increases in their commissions by letting SPA pricing work for them

SPA’s Dave Lienert also discussed how our solutions, which leverage experience from working with hundreds of companies to drive 2-4 margin point gains on affected revenue with minimal customer pushback, can help your company.

April 27-30
Epicor Insights Conference

SPA was proud to present at and conduct a client training workshop during the 2014 Epicor Insights Conference in Las Vegas, NV. Epicor and SPA have collaborated to develop an add-on Strategic Pricing Module and related data services. Click here to learn more about the Epicor-SPA Program.

April 2-4
Affiliated Distributors Conference 

SPA was honored to present in multiple sessions at the Affiliated Distributors Conference at the Arizona Grand in Phoenix, AZ.

February 7
SPA Strategy Seminar in Ft. Lauderdale, FL Event Recap

The article, authored by Frank E. Hurtte Jr. who has 28 years of distribution industry experience and a lifetime in sales, includes a number of critical points made by presenters and attendees who openly shared a number of timely and thought provoking ideas. A selection of some of the best points and comments follows.

Tom Gale (Modern Distribution Management)

  • 63% of distributors has some form of e-commerce offering
  • 70+% of distributors plan to invest further in e-commerce in 2014
  • Only 21% see on-line only players as their biggest competitive threat
  • By the end of 2014 nearly half of all distributors will have a “mobile app”
  • High performing distributors have a growing edge in the analytics of their business

Jonathan Bein (Real Results Marketing)

“The Lake Wobegon Effect …where all the children are above average”

Most companies tend to overestimate their strengths in the market. According to a survey, 90% of distributors believe they offer more value than their competitors. Only a very small percentage of distributors can elaborate on their value. Most say we provide better “customer service.”

Comment from a distributor who had added important gross margin increases via SPA:

“We had implemented an internal pricing process several years ago. We made a slight gain in our overall gross margin but within six months, most of the gains had slipped away. What we lacked was the deep dive metrics required to hold our salespeople accountable.”

Comment from a distributor talking about sales process:

“Before we started setting measures of success and managing against them, our sales team was like a day in the Wild West. Every salesperson ran their territory like the Lone Ranger, often without regard to how this impacted the profitability of the company. Since implementing a system with measures that can be pushed down to the sales territory level, things have started to change for the better.”

Frank Hurtte’s Final Thoughts

“As a senior advisor to over 50 distribution companies, I find it hard to believe that anyone would put off exploring a plan that can deliver 500% return on investment. The SPA Strategy Seminars are eye opening and always give me pause. Further, the sessions are free to distribution leadership and conducted in a way that encourages networking. If you haven’t been to one, I encourage you to get information on SPA ‘s next Strategy Seminar.”

Click here to read the full article

Learn More

Click here for SPA event dates and times and you can sign in or click here to register on our website to view our library of past webinars which covers a variety of strategic pricing topics.

Follow SPA

To easily keep up with the latest SPA announcements, events and resources you can subscribe to our Strategic Pricing Pays blog or follow us on LinkedIn or on the following major social media channels and file sharing platforms: Twitter, Google+, Facebook, SlideShare, and YouTube.

We also encourage you to join the Strategic Pricing discussions in our LinkedIn group and to sign up to receive our Strategic Pricing Newsletter by clicking here.

Learn How Kellermeyer Has Leveraged Strategic Pricing Tools to Increase Profits Significantly on our June 4th Webcast

Posted on Updated on

During this no cost 60-minute webcast you will hear SPA client, Kellermeyer, share their experiences and advice, learn about the Strategic Pricing approach to increasing margins and the strategy that can lead to pricing excellence, and you will gain a wealth of practical knowledge!

Program Description

Register to attend our webcast Wednesday, June 4, 2014 at 2:00pm EST where Jill Kegler, President and CEO at Kellermeyer Company, a 60+ year old business specializing in distribution of janitorial supplies and industrial packaging, will share Kellermeyer’s journey to pricing excellence and how they are learning to leverage science-based strategic pricing tools to increase margins.

The Kellermeyer mission is exceeding expectations through innovation, value and operational excellence. This is accomplished in many ways. For key vendors this means developing true partnerships for growth and assisting in promoting the value of the lines we support. For our team members this means continually looking for ways to improve and grow our business to assure our team a successful company for the future.

To support this mission and maximize profits, Kellermeyer turned to SPA to implement a proven strategic pricing initiative founded on SPA’s powerful pricing analytics tools. During this 60-minute webcast, Kellermeyer will share their experiences and advice that will provide you with a wealth of practical knowledge!

SPA’s Dave Lienert will also discuss how our solutions, which leverage experience from working with hundreds of companies to drive 2-4 margin point gains on affected revenue with minimal customer pushback, can help your company.

Attendees will learn how to address the following all too common issues and opportunities for increasing profitability:

  • Customer relationships focused on product/service value, not price
  • Identifying and capturing available margin premiums
  • Identifying price-sensitive products and services
  • Improving sales reps’ confidence in prices
  • Stopping undisciplined discounting
  • Tracking metrics for sales force accountability
  • Improving pricing consistency and fairness

This webcast draws on SPA’s experience working with hundreds of companies to drive pricing gains of 2-4 margin points on affected revenue with minimal customer pushback.

Click here to Register

Other SPA Events

Join us in Chicago June 6 for our SPA “Mastering Strategic Pricing in a New Economy Seminar” at the Hyatt Regency O´Hare or you can click here for other SPA Seminar dates and locations.

Click here for other SPA event dates and times. Sign in or click here to register on our website to view our library of past webinars which covers a variety of strategic pricing topics.

Follow SPA

To easily keep up with the latest SPA announcements, events and resources you can subscribe to our Strategic Pricing Pays blog or follow us on LinkedIn or on the following major social media channels and file sharing platforms: Twitter, Google+, Facebook, SlideShare, and YouTube.

We also encourage you to join the Strategic Pricing discussions in our LinkedIn group and to sign up to receive our Strategic Pricing Newsletter by clicking here.

June 6 Chicago Seminar: Learn the Keys to Faster Growth, Stronger Customer Relationships, and Market-leading Profitability from Industry Leaders

Posted on

Speakers and panelists include an outstanding group of leading manufacturing and distribution leaders, strategic pricing, change management, and capital markets experts at SPA’s upcoming Mastering Strategic Pricing in a New Economy Seminar to be held at the Hyatt Regency O’Hare, Chicago, IL on Friday, June 6, 2014. Space is extremely limited for this no-cost event so register soon to save your spot. Existing clients can also attend a free 3-hour training workshop June 5, 2014 that will cover essential analytical, process, metrics, and cultural issues surrounding Strategic Pricing.

SPA Chicago 2014 Seminar

Event Overview

This big-picture seminar is focused on strategic topics of importance to the owners, CEOs, CFOs, and general managers of distribution and manufacturing companies. Experts will address the topics essential to accelerating the customer value proposition, competitive positioning and market value of any distribution or manufacturing business. The seminar addresses the strategic, analytical, process and cultural issues that are fundamental to maximizing shareholder value. The seminar will focus on the high-level, strategic and structural issues that are easily neglected in the hustle and bustle of daily business demands. It will help you to re-focus your organization on the drivers of economic value.

Attendees will learn best-practice strategies and tactics to:

  • Achieve faster growth and market-leading profitability
  • Develop stronger customer relationships
  • Maximize your company’s valuation
  • Drive real change in sales force culture
  • Break the cycle of undisciplined pricing
  • Build a sales process based on customer value
  • Quantify and communicate customer value
  • Achieve pricing flexibility with discipline
  • Improve operational efficiency with reporting and analytics

Speakers and Presentation Topics

Driving Change That Matters in a Rebound Economy
David S. Bauders, President of SPA

Like never before, strategy, process excellence and analytics can set the stage for truly transformational gains in shareholder wealth. David will present the comprehensive platform that drives real wealth creation: customer value proposition, value-driving analytics and training, process design, change management and sales culture, and incentive systems. Companies that master this platform will enjoy faster growth, stronger customer relationships, market-leading profitability and superior capital markets opportunities.

Presentation on Capital Markets: How to Maximize Enterprise Value
Jim Hill, Managing Director, Benesch and Jason Kliewer, Managing Director, Robert W. Baird & Co.

How do best-in-class companies find ways to improve shareholder value in tough times? How do you maximize your company’s valuation? What are the pivot points of acquisition success? Our experts will discuss the best capital markets opportunities, focusing on Market Review, Drivers of Valuations, and Capital Markets Opportunities.

Strategic Pricing in a Rebound Economy: Best Practices Panel
David Bauders, President, SPA, and principals of leading manufacturing and distribution companies

David will present the integrated, actionable program that drives sustainable improvements in pricing effectiveness. A panel of SPA clients will share best practices in driving pricing excellence and sales traction.

The SPA Pricing Cube Reporting Tool
Dolores Bauders, Chief Operating Officer of SPA

Dolores will present an overview of the new SPA Pricing Cube™ Reporting Tool. This new tool will offer executive dashboards with intuitive visual indicators of performance as well as drill downs to actionable detailed data.

Leveraging Your Data to Track & Audit Business Process Improvements
Colin Sherman, National Sales Manager, MITS

When you make changes to your business processes, how do you know they are working? Without reliable and timely data, the changes your make to your business may be just that, changes, not improvements. Join Colin Sherman for this short introduction to MITS Distributor Analytics (MDA), a comprehensive reporting and business intelligence solution that makes it easy for executives and non-technical staff to use the data in your operational systems (e.g., Prophet 21, Eclipse, Prelude) to track and audit business process improvements. Colin will share the insights he has learned over 12 years helping 200+ wholesale distributors increase sales and improve operational efficiency with reporting and analytics.

Moderated Best Practices Panel Discussion: Change Management and Sales Culture: Execution on the Drivers That Matter
Frank Hurtte, Founding Partner, River Heights Consulting; David Bauders, President, SPA; and principals of leading manufacturing and distribution companies

How do you drive real change in sales force culture? How do you break the cycle of undisciplined pricing, and build a sales process based on customer value? What specific categories should sales forces be measured, managed, coached and incented upon? What are the metrics that matter? How do you tie in the incentive system? Industry expert Frank Hurtte and David Bauders present a case study on change management and sales culture; and moderate a panel of manufacturing and distribution executives who have mastered this process.

Sharpening Your Value Proposition for a Global Economy
Jonathan Bein, Managing Partner, Real Results Marketing

How do you increase your company’s ability to drive customer value, and therefore shareholder value? How do you sharpen your company’s competitive positioning and pricing leverage? How do you quantify and communicate customer value? Industry expert Jonathan Bein presents an overview and case studies on the development, validation, and execution of Customer Value initiatives.

Conclusion: Execution Excellence in a Rebound Economy
David S. Bauders, President, SPA

In the rebound economy, Best-in-Class companies will define and execute the programs that maximize enterprise value. These companies will strategically combine analytical tools, change management process excellence, sharpened customer value propositions, and information excellence to dramatically increase enterprise value. David discusses the integrated approach to winning.

Click here to view the complete seminar agenda.

Client Training Workshop Overview

Existing clients can register to join SPA’s David Bauders for a free 3-hour workshop training session that will cover essential analytical, process, metrics, and cultural issues surrounding Strategic Pricing. This workshop will help you evaluate your level of pricing mastery, identify gaps, and provide valuable strategies for maximizing execution. The workshop will be held at the Hyatt Regency O’Hare, Chicago, IL on Thursday, June 5, 2014. Register soon to save your spot.

This program is valuable to pricing leaders and executives of SPA clients in helping to maximize the returns on their investment in Strategic Pricing. A panel of experienced owners and pricing leaders will discuss their lessons learned along this journey.

The following topic will be discussed:

  • Documenting and Measuring Your Pricing Process
  • The Cultural Dimension: Selling on Value, Not Price
  • The People Dimension: Staffing for Success
  • Overcoming Organizational Obstacles: Culture, Metrics, Incentives
  • The Pricing Methods Mix and The Metrics that Matter

Click here for the complete training workshop agenda.

Registration

Click here to register online or contact Sheri Morford at Sheri.Morford@strategicpricing.com or call her at 216.455.1544.

Hotel Reservations

Hyatt Regency O’Hare, Chicago, IL, Tel: 800.233.1234 – mention Discounted Group Code CR23130. Please note prices are subject to change based on hotel availability. It is not necessary to stay at the Hyatt, as there are many other fine hotels in the area.

Other SPA Events

Can’t make it to Chicago this year, no problem, you can click here for other SPA Seminar dates and locations and click here for upcoming SPA webcasts.

Follow SPA

To easily keep up with the latest SPA announcements, events and resources you can follow us on LinkedIn or on the following major social media channels and file sharing platforms: Twitter, Google+, Facebook, SlideShare, and YouTube.

We also encourage you to join the Strategic Pricing discussions in our LinkedIn group and to sign up to receive our Strategic Pricing Newsletter by clicking here.

SPA Featured in Contractor Supply Magazine Strategic Pricing Article

Posted on

SPA was featured in an article in the current issue of Contractor Supply Magazine. It describes how strategic pricing initiatives can lead to improved margins and don’t require extra trucks, added salespeople, extra infrastructure or any of the other expenses associated with “growth.”

Excerpts of the article authored by Frank E. Hurtte Jr. who has 28 years of distribution industry experience and a lifetime in sales follow.

“the deck is stacked against you from the start”

Customers are constantly pushing backwards against your price. Sometimes this happens because the purchasing guy is classically trained to ask for a better deal. For those doubting my “classically trained” comment, Google “purchasing negotiations training.” While our sales teams are busy learning how to add customer value and solve complex customer issues, the procurement departments are learning how to negate our value message.

Further, most of the time customer requests for lower pricing are met with little resistance. Our sales team have actually reinforced the behavior. It’s like feeding table scraps to the family’s new puppy — give in once and the dog becomes a beggar for life. We’ve taught customers a lesson — ask and you shall receive.

“You need a powerful analytical tool”

…something that harnesses the power of advanced proprietary algorithms with powerful hardware. Analytics become a cornerstone of your metrics and measuring points.

Armed with management tools which provide exceptions to the pricing plan and levels of adoption of the plan by market, branch and salesperson, the distributor can begin to make progress. The analytical measures provide coaching moments with real data. Imagine sitting down with a salesperson and saying, “Your current pricing system compliance is 62 percent. What can we do to bring more customers onto the system?” Or, in a periodic review of numbers, being able to tell a salesperson, “If you would have used the system 95 percent of the time you would have earned $4,397 dollars more in commission this quarter.”

“The Money”

I get paid to help River Heights Consulting’s clients make money. Clients who put the SPA process to work typically add two full points to the gross margin of business run through the system. And, while most of my clients have large chunks of their business which are quoted jobs, contracts and negotiated project deals, they still find themselves running a substantial chunk of their sales through the SPA pricing process.

Improved margins don’t require extra trucks, added salespeople, extra infrastructure or any of the other expenses associated with “growth.” Most times, over 80 percent of the extra margin goes straight to the bottom line. For many distributors this is like doubling their profits.

This article was originally published as “Frank Hurtte – Strategic Pricing” in the April Issue of Contractor Supply Magazine, click here to read the complete article.

Follow SPA

To easily keep up with the latest SPA announcements, events and resources you can follow us on LinkedIn or on the following major social media channels and file sharing platforms: Twitter, Google+, Facebook, SlideShare, and YouTube.

We also encourage you to join the Strategic Pricing discussions in our LinkedIn group and to sign up to receive our Strategic Pricing Newsletter by clicking here.

Event Recap: SPA Strategy Seminar in Ft. Lauderdale, FL February 7, 2014

Posted on Updated on

The following are highlights of an article authored by Frank E. Hurtte Jr. who has 28 years of distribution industry experience and a lifetime in sales. He was a presenter at the last SPA Strategy Seminar and his recap includes a number of critical points made by presenters and attendees who openly shared a number of timely and thought provoking ideas.

Highlights from Some of the Presentations by Distribution Experts

Tom Gale (Modern Distribution Management)

  • 63% of distributors has some form of e-commerce offering
  • 70+% of distributors plan to invest further in e-commerce in 2014
  • Only 21% see on-line only players as their biggest competitive threat
  • By the end of 2014 nearly half of all distributors will have a “mobile app”
  • High performing distributors have a growing edge in the analytics of their business

Jonathan Bein (Real Results Marketing)

“The Lake Wobegon Effect …where all the children are above average”

Most companies tend to overestimate their strengths in the market. According to a survey, 90% of distributors believe they offer more value than their competitors. Only a very small percentage of distributors can elaborate on their value. Most say we provide better “customer service.”

Selection of Comments from Panel Discussions of Top Distributor Leaders

Comment from a distributor who had added important gross margin increases via SPA:

“We had implemented an internal pricing process several years ago. We made a slight gain in our overall gross margin but within six months, most of the gains had slipped away. What we lacked was the deep dive metrics required to hold our salespeople accountable.”

Comment from a distributor talking about sales process:

“Before we started setting measures of success and managing against them, our sales team was like a day in the Wild West. Every salesperson ran their territory like the Lone Ranger, often without regard to how this impacted the profitability of the company. Since implementing a system with measures that can be pushed down to the sales territory level, things have started to change for the better.”

Comment from a distributor who had implemented the SPA plan about 18 months prior:

“SPA is the absolute best investment in distribution. We paid for the whole system in less than two months and the results continue to grow.”

SPA’s President David Bauder’s key business observations

David believes now is the Time to Focus on Execution in our business. He laid out the following points. It is difficult to disagree with any of them.

With the current prospects for economic recovery, a focus on execution is crucial.

    • Accelerate your prioritization of high value-add initiatives
    • Cancel marginal projects and terminate poor performers

Frank Hurtte’s Final Thoughts

“As a senior advisor to over 50 distribution companies, I find it hard to believe that anyone would put off exploring a plan that can deliver 500% return on investment. The SPA Strategy Seminars are eye opening and always give me pause. Further, the sessions are free to distribution leadership and conducted in a way that encourages networking. If you haven’t been to one, I encourage you to get information on SPA ‘s next Strategy Seminar.”

Click here to read the full article

Upcoming SPA Strategic Pricing Conference Details

Mandalay Bay, Las Vegas, NV
3950 Las Vegas Blvd South
Las Vegas, NV 89119
Tel: (877) 632-7800

Agenda

Click here for the complete conference and workshop agenda.

Registration

To register for one of our upcoming events visit this page or contact Sheri Morford at Sheri.Morford@strategicpricing.com or call (216)470-9748.

Other SPA Events

Can’t make it to Vegas this year, no problem, you can click here for other SPA Seminar dates and locations and click here for upcoming SPA webcasts.

Follow SPA

To easily keep up with the latest SPA announcements, events and resources you can follow us on LinkedIn or on the following major social media channels and file sharing platforms: Twitter, Google+, Facebook, SlideShare, and YouTube.

We also encourage you to join the Strategic Pricing discussions in our LinkedIn group and to sign up to receive our Strategic Pricing Newsletter by clicking here.

Hear from a SPA Client on our May 7th Strategic Pricing Overview Webcast

Posted on Updated on

During this 60-minute webcast, you will not only learn about the Strategic Pricing approach to increasing margins but you will also listen to a SPA client share their experiences and advice. There is no cost to attend, but you will gain a wealth of practical knowledge!

Program Description

Join us Wednesday, May 7, 2014 at 2:00pm EST as we discuss the Strategic Pricing margin improvement opportunity and the strategy that can lead to pricing excellence. A SPA client will participate in this webinar to share their experience and results.

Attendees of the webcast will learn:

  • Winning approaches to selling on value, not price
  • The margin improvement opportunity
  • The challenges to improving pricing performance
  • Metrics for sales force accountability
  • Lessons learned by an SPA client

This webcast draws on SPA’s experience working with hundreds companies to drive pricing gains of 2-4 margin points on affected revenue with minimal customer pushback.

Click here to Register

Other SPA Events

Join us in Las Vegas Apr 30 – May 1 for our SPA Strategy Seminar at the Mandalay Bay or you can click here for other SPA Seminar dates and locations.

Click here other SPA webcast dates and times. Sign in or click here to register on our website to view our library of past webinars which cover a variety of strategic pricing topics.

Follow SPA

To easily keep up with the latest SPA announcements, events and resources you can follow us on LinkedIn or on the following major social media channels and file sharing platforms: Twitter, Google+, Facebook, SlideShare, and YouTube.

We also encourage you to join the Strategic Pricing discussions in our LinkedIn group and to sign up to receive our Strategic Pricing Newsletter by clicking here.

Case Study: AH Harris

Posted on Updated on

Read how AH Harris adopted a scientific approach to pricing which is still driving continued gross margin improvements.
“We improved the overall accuracy and consistency of pricing across the board. Our people don’t fall victim to the ‘last price paid’ trap anymore and customers are always provided with a fair and well thought out price.” As Mr. Stanek says, “This is a sustainable gain.”

Building Supplies with an Entrepreneurial Bent

Recently, we had the opportunity to speak with Jonathan Stanek, CFO of AH Harris. Jonathan exemplifies the new breed of strategically-focused CFOs. Demonstrating the actions of this new generation of CFOs, Jonathan provides not only financial staff services, but also tactical and strategic direction based on the financial and market conditions.

According to Mr. Stanek, “One of the main challenges of my job is to refocus the company’s cash on available opportunities. This includes traditional things like the careful maintenance of Accounts Receivable, management of inventory, management of rental assets, and management of financial risks but extends into streamlining other parts of the business. Because they represent a significant portion of the distribution business, freight costs were one of the priorities for command and control.”

Early in 2010, AH Harris began a plan for segmenting and justifying customer investment as part of their freight analysis. It was during this time an AH Harris Regional Manager brought Strategic Pricing Associates to Mr. Stanek’s attention.

Again quoting Mr. Stanek, “We had begun the process in house, but upon learning of SPA, decided we could drive results quicker using an outside firm. We did due diligence and explored several other companies in the pricing industry. The selection was based around three criteria: speed of implementation, completeness of the offering and feedback from current clients. And, Strategic Pricing Associates had some very credible clients who raved about the results. As a matter of fact, many openly shared the results with us.”

Finally, we asked Mr. Stanek to share his experience with our readers by laying out lessons learned. Here are his thoughts:

  • “Given the time frame required to make a scientific process really work, don’t worry about perfection. Get it out there and moving forward quickly.
  • It’s important to keep the momentum moving forward by continuing to focus on the process during the months following the initial rollout. For AH Harris, it’s been nearly four years and we are still talking up the process.
  • Expect a natural tension from employees. Different departments are incented to maximize different aspects of the business. This is a good thing.”

Click here to read the complete AH Harris case study.

Click here to learn about SPA’s approach to implementing strategic pricing.

Click here for SPA Seminar dates and locations.

Click here for upcoming SPA webcasts where you can here directly from SPA clients.

Follow SPA

To easily keep up with the latest SPA announcements, events and resources you can follow us on LinkedIn or on the following major social media channels and file sharing platforms: Twitter, Google+, Facebook, SlideShare, and YouTube.

We also encourage you to join the Strategic Pricing discussions in our LinkedIn group and to sign up to receive our Strategic Pricing Newsletter by clicking here.