U.S. Dairy Industry 2019: Challenges and Opportunities The United States produced about 217.5 billion pounds of milk for human consumption in 2018, making it the largest dairy producer in the world. However, according to a 2019 McKinsey report, the U.S. dairy market depicts a grim picture. From 2015 to 2018, top dairy products experienced declining…
Pricing teams that rely on Excel models and manual processes can be overwhelmed with the challenge of optimizing price as tariffs whipsaw cost. An Excel-based response can feel like “bringing a knife to a gun-fight.” Many companies have finite opportunities to change their price in any given year placing even greater weight on the right…
“It’s in the game.” The traditional core objective of pricing technology was centered on the identification of the margin leakage. The pricing team operated the software and provided sales with insights to mitigate the margin erosion. Put another way, the software served as a business intelligence support system with considerable human intervention. From the sales…
A true path to optimized pricing There is a growing focus among pricing practitioners to use price science to drive pricing decisions. It’s a fabulous trend with many recent innovations in the use of advanced techniques such as machine learning and AI. It is important however to consider behavioral economics because our economic decision making…