by ManMohan S. Sodhi, Navdeep S. Sodhi
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Product Description
Apply Six Sigma to Your #1 Business Challenge: Pricing "Six Sigma is well known for having helped companies save billions of dollars. This book is the first to show us how to use it on the revenue side of the equation to generate profitable growth. This step-by-step guide will be an instant classic--a seminal book on a topic critical to profitability." --Robert Cross, Chairman and CEO, Revenue Analytics Inc. and author of Revenue Management "Six Sigma Pricing provides companies with a practical toolkit to improve their price management. The authors show executives how to use Six Sigma tools in their pricing processes and instantly improve profits and their bottom-line. This is a truly 'must-have' resource for managers everywhere." --Eric Mitchell, President, Professional Pricing Society Many companies have developed solid sales strategies-- but without equally good pricing operations, those strategies alone will not add a dime to the bottom line. The goal of pricing operations is to consistently control price deviations in transactions and contracts over time and across customer segments.This goal of ensuring the prices are not too low or too high in different transactions relative to guidelines lends itself perfectly to Six Sigma. Using the authors' breakthrough Six Sigma-based approach, you can systematically eliminate pricing-related revenue leaks, driving higher profits without alienating customers. You'll learn how to define pricing "defects," gather and analyze relevant pricing data, review pricing-agreement processes, identify and control failures, implement improvements, and then ensure continuous, ongoing improvement in price, profits and customer satisfaction. The book reflects the authors' pioneering experience implementing Six Sigma pricing. Whether you're a business leader, strategist, manager, consultant, or Six Sigma specialist, it will help you or your client recover profits that have been slipping through the cracks in pricing operations./ Learn why Six Sigma Pricing makes sense Why you should target pricing operations, and how to do it / Identify profit leaks from inefficient pricing operations Why "sloppy pricing" occurs, how to find it, and how to root it out / Illuminate your current pricing processes, so you can improve them Understand your market-facing and internally focused pricing processes pertaining to product launch and lifecycle price management, price increases due to escalation in costs of raw materials, promotions, and discounting / Set up your pricing operations for continuous improvement in line with your pricing and sales strategy Use Six Sigma to improve and control processes, ensuring alignment with agreed-upon strategy for pricing and sales / Create an organization that is successful at pricing Align different functions and levels of the company to achieve targeted profits
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Average Customer Review:
0 of 1 people found the following review helpful:
 Should Be Only An Article, 2008-12-16
"Six Sigma Pricing" began as a Harvard Business Review article and should have stayed as such - most of the material covers very basic Six Sigma, TQM, and pricing material. Nonetheless, the authors central point - an approach to increase profits via improved pricing control, is valuable.
They point out that sales personnel have incentives that typically depend on the sales generated, not on realized prices of profits. Buyers' agents, on the other hand, have incentives that typically depend on the discounts they extract from list prices. Meanwhile, requests by sales personnel to get prices approved within the company may take so long that customers go elsewhere.
There are also problems with buyers and their agents delaying purchases until the end of the month to obtain greater discounts, and failures to end promotions in the sellers' computer system upon date expiration.
The authors tested a method using various levels of authorized discounts, according to position (eg. sales, analyst, and upper management), and found it significantly improved revenues.
0 of 0 people found the following review helpful:
A great consultative tool for Corporate Strategy and strategic dialogue, 2008-07-10
Six Sigma Pricing: Improving Pricing Operations to Increase Profits (Six Sigma)
I would recommend this book to any executive looking to gain a better understanding of pricing, the pricing process, and the dynamics involved in bringing better pricing precision to your organization.
As a C-suite executive in a $1B food manufacturing company, while I have no pricing/procurement responsibilities, I am directly involved in Strategy and strategic planning for our organization; and in the current marketplace of rising commodity costs with questionable price elasticity, maximizing profits for us requires a thorough understanding of price.
This book helped me better understand and participate in the strategic discussions with my other business partners.
2 of 2 people found the following review helpful:
Six Sigma Pricing, 2008-03-18
Pricing, getting it "right" and positioning a company with a cohesive plan to address this critical process is always a challenge. While some may think of Six Sigma as a cold, clinical tool (which it can be), the authors get it right with Six Sigma Pricing. From my perspective, the volatile economic environment in which we find ourselves operating today, with the Euro surging past US$1.55, profit margins can dissipate more quickly than one can imagine if you are not on top of your game. The authors couple Six Sigma processes and good business sense with proven processes to help companies manage this critical process. Very well done.
1 of 1 people found the following review helpful:
An intriguing and important perspective on pricing, 2008-02-12
The authors admit early in the book that they've taken on a very challenging task: to provide readers a way to bring what might be the most unwieldly and convoluted corporate process - the "pricing process" - under some semblance of control. To a large degree, they succeed. They do a wonderful job of using Six Sigma as a means to make this challenge manageable, without letting Six Sigma gain the upper hand. In other words, this is a very useful and practical book about removing defects from your decision-making process on pricing. It's not a book which treats pricing as just more grist for the Six Sigma mill. This book is definitely worth reading if you feel your company's pricing process needs more discipline, rigor, and structure.
2 of 2 people found the following review helpful:
A good business school text book!, 2008-01-30
As an academic, I have been searching for a good book, which can be used in Business School classes to introduce students to pricing operations as a marketing topic and also Six Sigma for process improvement. It is one of a few books available, which is serious enough to be used as a text book but also full of real-life and relevant industry examples. Sometimes, I feel really uncomfortable to hear from students discussing Six Sigma, who obviously had read jargon filled Six Sigma books with little substance. This book is an exception, since it presents Six Sigma and pricing concepts clearly and in an applied context.
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