Stockholm, Sweden (PRWEB) January 15, 2015
Today, Syncron International, an aftermarket price optimization company, announced today that NAPA Mexico, an automotive replacement parts and accessories retailer, is now using its cloud-based global inventory management software.
The Syncron solution selected by NAPA Mexico automates and optimizes prices to improve revenue and margin for parts at the company’s retail locations. The application runs out of the Syncron data center, which is located in Stockholm, Sweden.
“Syncron offers an out-of-the-box solution that can be easily adapted to our business environment and accessed from anywhere,” said Javier Frausto, Pricing Coordinator at NAPA Mexico. “We selected Syncron because of their unique ability to manage price for thousands of parts with millions of characteristics. Syncron’s offering will help us identify underperforming products and respond quickly to grow revenue and profit.”
The pricing team at NAPA Mexico is already eliminating manual effort as they move toward implementation of sophisticated, differentiated pricing policies, like value-based pricing. NAPA Mexico, together with Syncron, has completed the classification of its products. Classification is a critical first-step toward implementation of value-based pricing. Price management from Syncron accurately and efficiently groups and classifies products, apply value drivers, model business impacts, and implement new prices. Classification has helped the company determine the appropriate prices based on market and competitive information.
Key characteristics of the solution include:
- Recommended item classification according to part attributes and segmentation history
- Target price and current price recommendations based on pricing logic and defined formula for the part’s classification
- Graphical views of target price, current price, cost and sales volume
- Accurate and easy to use price revision scenarios and simulations
By using Global Price Management from Syncron, NAPA Mexico expects to improve efficiency when setting the price of new parts; more accurately set prices; and monitor target price, current price and the part’s cost to maximize profit. With a fast and accurate approach to pricing, NAPA Mexico hopes to drive sales and improve margins.
The Syncron implementation team has completed three days of at the NAPA Mexico headquarters, located in Santiago de Querétaro, Querétaro. In addition, the users received additional remote training in a series of 1-2 hour sessions.
“We are very proud of being selected by NAPA Mexico. As aftermarket specialist, Syncron offers a solution that is very well-suited to their business needs. Syncron is committed to delivering pricing efficiency as well as higher margins,” said Jason Philip, Pricing Manager for Syncron North America. “The high-quality training and easy-to-use interface provided by Syncron will give NAPA Mexico a strong foundation to expand its business. We expect to see immediate improvements in efficiency of price management, with margin and revenue growth to follow.”