Transforming Pricing Management in a Chemical Supplier

This chapter discusses a case study that illustrates how Visual Six Sigma may be successfully applied in the world of sales and marketing, a world conventionally seen as being driven more by art and intuition than by data analysis and science. It explores how Visual Six Sigma is used to drive a new...

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Zusammenfassung:This chapter discusses a case study that illustrates how Visual Six Sigma may be successfully applied in the world of sales and marketing, a world conventionally seen as being driven more by art and intuition than by data analysis and science. It explores how Visual Six Sigma is used to drive a new way of conceptualizing and managing the pricing process of a multinational chemicals supplier. Polymat Ltd., a manufacturer of polymeric materials that are sold into a range of commodity and specialty applications, faces growing competition from new manufacturing facilities, primarily in China and India. Market prices have declined steadily over a period of several years. Against this backdrop, Jane, a skilled black belt, is enlisted to help arrest the steady price decline. Visual Six Sigma allowed Jane to make rapid progress with only the need for periodic consultations with other Polymat personnel. These findings led to the development of simple but powerful approaches founded on measurements that were easily implemented. The sales representatives, sales managers, and Polymat's leadership team readily adopted these approaches because they were practical, gave new insights, and delivered visible and measurable benefits.
DOI:10.1002/9781119203759.ch5