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Putting a Price Tag on the Buyer-Supplier Relationship

Mitch Lee August 28, 2018

The power of Big Data is turning the buyer-supplier relationship into a measurable metric in B2B eCommerce. Everything from geographic location to on-time payment history can affect that relationship, and subsequently the contract between a corporate buyer and vendor.

Price-setting is a delicate process for suppliers, especially lower-margin, smaller vendors in the supply chain. Historically, these businesses would use anecdotal evidence and arbitrary factors to set prices with their corporate customers, resulting in a lack of consistency. This strategy fails to optimize vendors’ relationships with buyers, and misses opportunities to find the “sweet spot” of product pricing: identifying the most a customer is willing to pay while still maintaining a positive customer experience. Read the full story at PYMNTS.com