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Accenture works with industrial equipment manufacturer Manitou to implement a spare parts pricing optimization program to improve performance and profitability.
Accenture Parts Optimization has helped Manitou, a world leader in manufacturing rough-terrain forklifts, to improve the performance and profitability of its Services Business Unit and of its network of dealers by introducing an innovative and industrialized approach to spare parts pricing.
This new approach, which aligns pricing policies to customer’s perceived value, has helped to optimize revenues generated by the 6,300 spare parts included in the program. It has also improved Manitou’s pricing consistency, thus driving greater customer satisfaction and brand loyalty.
Manitou needed to reinforce its network to deal with increased competition in the forklift industry and identified spare parts pricing optimization as a key lever to improve performance and profitability.
Manitou’s executive management selected Accenture to support the company in developing and implementing a new pricing approach for its spare parts business.
Accenture’s Management Consulting Services and its Accenture Parts Optimization (APO) unit worked to set up and roll out a new pricing approach for Manitou’s strategic spare parts.
The work included:
Establishment of a flexible delivery model.
Physical examination of 6,300 parts to identify “perceived value” pricing criteria and creation of 3D pictures of each.
Segmentation of strategic spare parts and definition of pricing criteria and rules for each category of parts.
Deployment of a new pricing methodology for all applicable parts within less than nine months.
Accenture Parts Optimization has helped Manitou improve the performance and profitability of its Services Business Unit and of its network of dealers.
It has also improved Manitou’s pricing consistency, thus driving greater customer satisfaction and brand loyalty. The new pricing methodology developed has supported a significant, positive impact on spare parts revenues and performance since 2009 and has provided a return on investment in less than six months.
Beyond pricing, Manitou can use the data captured during the physical examination phase to improve the quality of its spare parts catalog.
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