Chemical Manufacturer - Value Pricing
- Privately owned leading national distributor of industrial chemicals with multiple distribution centers
- Margins were eroding due to lack of standard practices in handling various order-to-delivery work streams including quoting, price changes, and customized pricing
- Developed a Playbook of Best Practices to standardize key business processes and creating a culture of performance accountability.
- Implemented and standardized managing procedures for ordering, invoicing, and purchasing and instituting accountability to drive continuous improvement
- Initiated and developed a formalized Price Book process to establish accurate list prices and reduce margin erosion
- Increased EBITDA of $3.9M
- Increased quote-to-yield rate by 30%
- Reduce invoicing errors by 60%
- DSO (receivables measure) was reduced by 4 days, improving cash flows.