Xylem Inc., a global water technology provider, faced challenges in pricing spare parts across three categories: key parts, general parts, and standard parts. The key issue was determining customer-perceived value without generating excessive records for unused part configurations. Xylem partnered with Vendavo to create value-based and market-driven pricing strategies for spare parts and over a million product configurations. Vendavo helped prioritize parts, used AI/ML techniques for pricing, and integrated their systems for seamless pricing updates. This resulted in market-aligned pricing, reduced errors, and enhanced sales team efficiency in quoting bespoke configurations.

Join for free to read