Industrial Paint Manufacturer Overcomes Rising Material Costs
Like many manufacturers, swings in raw material costs had put this industrial paint manufacturer on a roller coaster when it came to margin performance. Faced with unprecedented raw material cost increases that affected several product lines, it needed to improve average selling prices by 6 percent overall to recover those costs. For many years, the manufacturer took the typical approach of raising prices across all affected products uniformly and hoping for the best. But those historic price increases rarely attained the goal. With double-digit material costs increases ahead, that just wasn’t good enough.This video reveals how the company found a way to overcome that deficit.