The Ultimate List of Great Books on Pricing
Individual Book Review:
Six Sigma Pricing: Improving Princing Operations to Increase Profits.
Book Author: ManMohan S. Sodhi and Navdeep S. Sodhi
Six Sigma outlines how the goal of pricing operations is to routinely control price deviations overtime, ensuring prices aren´t too high or too low, in transactions and contracts targetting different target consumers.
SIx Sigma Pricing is one of the books selected from The Ultimate List of Great Books on Pricing we have compiled. Pick up a book or two - to help you charge the right price for your products or services.
Continue reading through our review for Six Sigma Pricing below!
Many companies have developed fixed, strong, sales strategies– but without corresponding successful pricing operations, those strategies unattended will not add new profit to the bottom line.
The goal of pricing operations is to constantly manage price deviations in transactions and contracts across time and diverse customer groups. This goal of ensuring the prices are not too high or too low in diverse transactions in regards to guidelines, works perfectly with the Six Sigma approach.
SIx SIgma is a step-by-Step guide which is know for having helped companies save billions of dollars. The authors, Mohan Sodhi and Navdeep Sodhi, wrote this Harvard Business School article that is the first to show us how to use a Six-Sigma based approach on the revenue side of the equation to generate profitable growth. The authors provide you with a practial toolkit to improve your price management, and Pricing discipline: one that can systematically eliminate pricing-related revenue leaks, driving more profits directly to the bottom line without losing customers.
Readers will learn how to analyse pricing "defects" and gather and interpret relevant pricing data. How to identify failures of control and subsequently how to make modifications that don' t create severe approval processes. Finaly, the authors explain how to sustain and extend pricing improvements into your organisation long- term and create a Six SIgma Pricing Enterprise.
The book reflects the authors' extensive personal experience impleneting the Six Sigma Approach to pricign, as well as insights own from companies ranging from Lloyd' s of London, Citibank and to 3M.
The following are the Key concepts introduced by the authors in Six Sigma:
- Motication and Context: Profit Leaks from Inefficient Pricing Operations.
- Pricing Operation and Six Sigma: Learn why Six Sigma makes sense.
- Doing a Six Sigma Pricing Project: How to use Six Sigma to improve and control processes and ensure aligment with your fixed pricing and sales strategies.
- Developing a Six Sigma Pricing Enterprise: Creating an organisation that is succesful at Pricing.
Using the authors' breakthrough Six Sigma-based conceptualization, you can systematically eliminate pricing-related revenue leaks, driving higher profits without lossing customers.
ABOUT THE AUTHORS:
Navdeep S.Sodhi: Sodhi,is a practitioner of pricing strategy based on experience in several industries including airlines, medical devices, and industrial manufacturing. Navdeep is a recent winner of the PPS 2004 Award Of Excellence for "Recognition For Bottom Line Impact Through Pricing." and author of the seminal May 2005 Harvard Business School article SIx SIgma Pricing.
ManMohan S. Sodhi: Sodhi is currently Deputy Editor for Production and Operations Management (POM) and has been Editor of the Annual Edelman Awards issue of Interfaces and Editor-in-Chief of INFORMS Online. He received his Ph.D. in management science from the Anderson Graduate School of Management at UCLA in 1994. Subsequently, he taught operations management at the University of Michigan Business School where his research in the trucking industry was funded by the Sloan Foundation.He has published in numerous academic and managerial journals including Operations Research, Production and Operations Management, Journal of Operations Management, Harvard Business Review, Sloan Management Review, Interfaces, and Supply Chain Management Review.