Terex to optimize global parts pricing with Syncron Price

Updated Sep 8, 2018

Terex logo on structureTerex has selected Syncron Price to optimize its global service parts pricing.

Syncron is a provider of cloud-based after-sales service solutions to help manufacturers maximize product uptime and deliver exceptional customer experiences, the company says. Manitowoc also utilizes Syncron pricing solutions.

Terex, one of the world’s largest manufacturers of aerial work platforms, cranes and materials processing equipment, is undergoing a multi-year transformation program to simplify its business processes and  better serve customers by implementing its Execute to Win business system, a press release says.

Terex identified its Lifecycle Solutions as a critical area for optimization, including improving service parts fulfillment and pricing.

“As part of our transformation at Terex, we are focused on increasing value for our customers through the complete product lifecycle,” says Derek Everitt, vice president, Terex Transformation Program.

“We identified our service parts operations as a priority, and Syncron’s full suite of after-sales service solutions was a good fit. Syncron Price will enable us to manage pricing on approximately half a million service parts in a more strategic manner than we have in the past.”

To make the pricing process more efficient, Terex looked for a system that could reflect the company’s strategic approach to parts pricing and enable price adjustments based on market conditions, the press release says.

“In a world where trade policies can change seemingly overnight and new tariffs can affect the cost of products almost instantly, we need the infrastructure to react quickly,” Everitt says. “Syncron Price will enable us to be nimble in our approach to service parts pricing.”

Terex was seeking a service pricing solution  that was easy to use, a clear market leader and had a high performing customer base within the heavy equipment and industrial machinery industries.

In the near future, Terex aims to develop consistent processes and procedures around service parts pricing, while configuring and implementing the solution.

As the transformation unfolds, Terex plans to optimize the complete service supply chain, aligning marketing, distribution and parts availability, the company says.

“It is now more important than ever to have the technologies and resources in place to ensure the customer experience is consistent at every touch point,” says David Reiling, chief customer officer at Syncron.

“We are thrilled to partner with Terex as part of its transformation journey and believe we can help take them to the next level of customer support via optimized service parts pricing.”

Syncron Price will be implemented across Terex Corporation’s global business segments in a phased implementation approach based on operational priorities within each segment.