News, News Coverage

Putting a Price Tag on the Buyer-Supplier Relationship

By 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

  • dynamic pricing

    Mitch Lee

    Mitch is a Profit Evangelist at Vendavo with 25+ years of experience in the technical, operational, marketing, and commercial arenas of the process industry. Prior to Vendavo, Mitch was with BASF and Orica in product marketing and business management, driving operational optimization, pricing excellence, and margin improvement, as well as personal engagement in high value sales negotiations. Mitch also has deep experience with raw materials supplier portfolio management having negotiated large scale and long-term agreements with global suppliers.