THINKING ABOUT A NEW SYSTEM ?
Perhaps you are thinking about building or buying a pricing system. Before taking the plunge, recognize that implementing a new pricing system is a major decision - and investment. Have a healthy dose of skepticism that a third party solution will meet your specific functional needs.
In many cases, a new system may offer improvements, but you will want to carefully look at many alternatives and make sure you have a strong business case before rolling the dice.
EXPERT ADVICE ON
WANT TO SHARPEN YOUR STRATEGY ?
With fuels pricing, it can be hard to tell if you are on track. Are you meeting overall objectives? Is your volume/margin balance where you would like it?
It can be extremely helpful to get an unbiased, external opinion of your pricing strategy. Take a fresh look at your execution and performance from a strategic perspective.
Fuels pricing is an art. There are so many factors that go into a decision, it is impossible to mathematically model all of them. Add in the daily volatility of prices and sales, the constant change in the markets, and it is easy to see why a model is going to struggle.
Still, there are some success stories about using modeling and analytics, and ways to leverage statistics to gain advantage. A well built model may be able to provide some insight into helping prove or disprove some of your long held beliefs.