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Vol 28 - No 08 October 2002 Using Pricing to Manage Manufacturing Profitability Traditionally, manufacturing has focused on fulfilling demand at the lowest possible cost. Manufacturers attempt to forecast demand and then make decisions on how to adjust capacity, inventory, and labour to best meet that forecast - a process that has been the main driver for manufacturing performance and profitability. But what if instead of trying to adjust manufacturing resources to meet demand, manufacturers could influence demand in such a way that it would more closely conform with the optimal utilisation of resources? What if they could scientifically manage pricing to extract the maximum revenue from each sale or contract and make the most of existing manufacturing assets? Page number: 22 Word count: 2800 Related Topics: Customer relations management Marketing Process control
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