Dynamic Pricing in Specialist Wholesaling: Revolutionising Sales Strategy with AI
At a time when specialist wholesalers in Germany are facing unprecedented competitive pressure, sales managers and managing directors are looking for innovative ways to strengthen their market position.
The increase in direct sales by manufacturers and the need to adjust prices based on customer behaviour and historical sales data from the ERP system are forcing companies to rethink their traditional strategies.
However, it is a common misconception that the successful implementation of artificial intelligence (AI) requires a profound transformation of the organisation.
The reality of AI implementation: a paradigm shift in specialised wholesale
Upwards, downwards, when will the price dynamics stop?
Many sales managers at specialised wholesalers and component manufacturers are faced with the challenge of making their prices dynamic and data-driven in order to survive in a highly competitive market.
The introduction of an AI-based assistant appears to be a daunting task that requires a fundamental reorganisation of existing sales, customer acquisition and customer retention processes. However, most companies already have what it takes to reap the benefits of AI.
Misconception: The Need for Comprehensive Organisational Change
It is a widespread assumption that the implementation of AI technologies requires radical change within the organisation. However, this assumption is wrong.
Yes, change is necessary, but not radical and certainly not thorough. After all, what company doesn’t want to satisfy its customers at the best possible price?
Organisations simply need a strategic and coordinated approach to complement their existing processes with the new possibilities of AI. How does this work?
Specific Measures for Success
The key to success lies in defining specific measures and activities that build on the existing foundations. Just a list? Yes, in the beginning it can be a checklist. Ask us, we have seen many.
An overly ambitious approach to the introduction of AI can diminish the chances of success. It is important to realistically assess the scope of the necessary changes and to plan specific steps based on this.
Also think iteratively. You will probably not be able to improve all processes and cases immediately. If you are reasonably satisfied with around 80% of the cases after the first attempt, you have already taken a big step forward.
Historical ERP Data: The untapped Potential
One aspect that is often overlooked is the value of historical sales data stored in the ERP systems of wholesale companies. This data is a treasure trove for dynamic pricing and optimising sales strategies.
Don’t be fooled. Of course, it would be nice to know the prices of all your competitors before you set your own prices. Is that possible? Use what you have.
Facts you should know
German specialist wholesalers: With 5,000 to 10,000 customers and 20,000 to 100,000 articles, specialist wholesalers in Germany are under enormous pressure to assert themselves in a rapidly changing market. The number of customers and products is in the billions. Can you calculate all this with Excel?
Competitive pressure: Increased direct sales by manufacturers and the digital transformation of the market are forcing wholesalers to rethink their pricing strategies.
Historical ERP sales data: This data is a valuable resource for implementing AI to develop dynamic pricing strategies.
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Conclusion: A call to Action
The introduction of AI in specialist wholesaling does not require revolutionary upheavals in your organisation. Rather, it is about utilising the existing foundations and expanding them with targeted measures. The successful implementation of an AI-based assistant builds on established sales processes and uses existing historical data to revolutionise your pricing and sales strategy.
It’s time to take the first step and unlock the potential of AI for your specialised wholesale business. Take part in our online training courses or contact us to find out how you can take your sales strategy to the next level. Let’s work together to realise your potential and pave the way to a successful future.
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