It’s a change in the way your organization thinks about and executes pricing.Ī well-designed dynamic pricing system isn’t hard to adopt, but you’ll need effective management strategies and thoughtful communication to get the most from it. That’s because dynamic pricing is much more than just lines of code.
#Bluex pricing software#
Your team would certainly end up getting a crash course in AI and machine learning, but at what cost?Īside from the focus required from your IT team, trying to build dynamic pricing software in-house may ultimately make it harder for your organization as a whole to implement dynamic pricing. Saddling them with the task of creating a dynamic pricing solution would likely sideline them from their core work for many months or even years. Your IT team has an important role to play in identifying and analyzing data unique to your organization, integrating and optimizing internal processes, and so much more.
Purchasing a dynamic pricing system from a vendor gets you immediate results on pricing while also freeing up your team to focus on matters related to long-term growth. But of course, there are so many things they can do better than anyone else. We’ve spent much of this article talking about what your IT team might not be able to do. Want to learn more about how we support carriers who implement our dynamic pricing product? Click here.įree Up Your Team to Focus on Core Issues When you buy from a vendor like BlueX, you avoid maintenance headaches because maintenance and support are built-in. In many cases, the unpredictable time and costs associated with maintaining an in-house product prove to be a serious Achilles heel for otherwise effective teams. These are all tough but important questions for CIOs and IT team leaders to address.
#Bluex pricing update#
Here’s a glimpse at what the process looks like:Ĭut Maintenance Headaches with Built-In SupportĮven if an in-house team can successfully build a dynamic pricing solution, maintaining that solution so that it continues to provide value over the years is a tall order for any organization.ĭoes your in-house IT team have significant experience maintaining enterprise-level software? Will they be able to implement new features and upgrades in a time- and cost-efficient way? If core members of your IT team leave the organization, will their replacements be able to understand and update the existing code base? You can be using our system organization-wide in as little as 2 months. Given the global shipping industry’s pace of change, those time savings could make a real difference for the future of your business.Īt BlueX, we have a battle-tested process for getting carriers up and running with dynamic pricing. You’ll be reaping the competitive advantages dynamic pricing brings much faster than if you tried to build a solution in-house. As a maritime consulting expert, Lars Jensen urged in 2020, “ the digital change in the industry has been massively accelerated, and anyone not ‘on the train’ at this point needs to play catch-up real quick.”īuying dynamic pricing software from a vendor gives you the shortest possible time-to-value. Given the recent upsurge in media reporting about the chaos that is container shipping in 2021, it’d be understandable if you were tired of hearing about how urgent the situation is.īut the fact is, the best time to implement dynamic pricing was yesterday-and the second-best time is today.Įxperts have been forecasting that all ocean freight industry winners will be digitized and data-driven for several years. For example, BlueX’s dynamic pricing solution is already deployed globally and getting results at leading ocean carriers. That’s why for most carriers, it makes sense to go with a solution that’s already up and running and proven to work. And if the results are disappointing, you’ll be back at square one. There may be carriers out there with the internal resources to successfully implement dynamic pricing in-house, but doing so is a significant challenge that carries plenty of risks.Įven if a carrier’s IT team builds dynamic pricing software that seems to work, it will be months or more before your organization can collect and analyze enough data to prove that the solution helps you earn more. Getting dynamic pricing right requires incredibly broad and deep expertise as well as excellent cross-team communication. As McKinsey reported in 2020, “ pricing has the highest and fastest impact on profitability of all available improvement levers.” Dynamic pricing software’s value to your organization is hard to overstate-but only if it works.
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