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Accenture Parts Pricing Solution helps original equipment manufacturers (OEMs) build a robust pricing framework to increase market share for key spare parts.
Spare parts represent an important profit area for OEMs as it makes up approximately 10 percent of total sales and up to 50 percent of net income. Despite the strategies that OEMS have deployed so far to profit from their spare parts businesses, there lies a huge opportunity to improve growth and profitability by taking a more strategic and systematic approach to competitive parts pricing.
Accenture can help OEMs on their journey to optimize prices by providing long-term business services and integrating its innovative approach with the company’s pricing processes and legacy systems.
We provide an end-to-end Parts Optimization solution to help clients achieve high performance in competitive spare parts pricing, increase margins across their product portfolios, and improve brand image and customer satisfaction.
Accenture has a dedicated pool of pricing experts, as well as proprietary technology, processes and methodologies, to help clients with:
Pricing competitively in the spare parts life cycle: Developing an industrialized methodology to determine a spare part’s price based on life cycle stage, perceived value and market intelligence to help manufacturers reap maximum profit, and deliver better price consistency and reliability to their clients.
Aligning competitive prices with market expectations: Focusing on market intelligence analysis to help companies position themselves well in the market. This approach concentrates on three key areas: competitor segmentation; technical and market intelligence for each part and for every country, and market price analysis.
Achieving a strong competitive pricing framework: Minimizing manufacturers’ time and effort to help them achieve 3–10 percent incremental gains and tackle large volumes of parts across their life cycles and many markets.
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