Maintaining consistency and efficiency in pricing and inventory management is top of mind for distributors who are constantly looking for ways to stay competitive and profitable. Birmingham Fastener & Supply, a leading player in the industry, faced similar challenges and turned to Intuilize for a solution. Joe Phifer, CFO of Birmingham Fastener & Supply, shares their experience and the transformative impact Intuilize has had on their business.
Addressing Pricing Inconsistencies
Before partnering with Intuilize, Birmingham Fastener & Supply struggled with inconsistent pricing across their sales team. Joe Phifer explains:
"You may have two different sales people quoting the same type of customer at different prices, so we wanted to make it more standardized. This way, when we go to market, we're being consistent with our customer base."
This inconsistency affected their competitiveness and also their relationship with customers.
To tackle this issue, Intuilize implemented AI-powered optimization tools that aligned third-party data with demand planning. This approach ensured that pricing was not only fair and competitive but also tailored to the volume of purchases, as Joe highlights:
"If we have a large customer that's buying millions of dollars of fasteners and then we have somebody that's buying a couple hundred dollars, there definitely needs to be a different pricing level there based on volume."
Rapid ROI and Continued Growth
The implementation of Intuilize's platform brought about significant improvements in a short period. Joe recalls:
"Within three months we were already reviewing some of the metrics, some of the analytics (on a) dashboard, and seeing a return on our investment."
The ability to quickly review and act on detailed analytics provided by Intuilize allowed Birmingham Fastener & Supply to streamline their operations and see tangible results. Joe adds:
"Now here we are six, nine months down the road, we continue to pick up steam and see an even larger return."
Embracing Technology and Data-Driven Decisions
For Birmingham Fastener & Supply, embracing new technology and making data-driven decisions were key factors in their success with Intuilize. Joe emphasizes:
"(Intuilize is good for) people that are open to technology, especially from a management level, that are willing to try something new... the data is not going to lie; it's going to tell you the truth."
This mindset enabled them to leverage the full potential of Intuilize's AI-powered platform and make informed decisions that propelled their business forward.
Communication and Team Involvement
Effective communication and team involvement were critical in ensuring a smooth transition to the new system. Joe advises:
"I recommend just making sure you sit down with every person that's going to be involved so that they can ask questions and understand completely what's going on."
This approach helped alleviate any concerns and ensured that the team was on board and well-equipped to utilize the new tools.
A Multi-Phase Opportunity
Looking ahead, Joe sees immense potential for continued growth and optimization. He explains:
"The biggest thing I see is just the opportunity. This is a multi-phase opportunity as we learn more about how to use the data to communicate that back to our sales people."
With Intuilize, Birmingham Fastener & Supply is not only addressing current challenges but also uncovering new opportunities for improvement and efficiency.
➡️LEARN MORE FROM BIRMINGHAM FASTENER & SUPPLY
Why Choose Intuilize?
Intuilize stands out as a revolutionary force in the distribution industry, leveraging AI-powered technology to optimize prices and inventory, boosting EBITDA for distributors. Key benefits include:
- AI-Powered Optimization: Leveraging AI to align third-party data with demand planning for enhanced accuracy.
- Seamless Integration: Two-way integration with ERPs, CRMs, and other systems for a streamlined workflow.
- Automation and Efficiency: Automating routine tasks to free up your team for more critical business aspects.
- Proven ROI: Demonstrating significant returns on investment without the need for long-term contracts.
Don't wait—book a call with Intuilize today and start your journey towards a more efficient and profitable distribution business.
