With uncertainty in the economy, some parts of the glass industry are experiencing a dip in demand. As your competitors respond by cutting prices, there is more pressure to reduce your prices and deepen discounts.
But the big problem with price discounting is that you can quickly slip into loss-making. So as you experience more price competition, it is essential that you understand your costs properly.
Gtrak includes easy-to-use costing functionality as standard, so you can create price lists and authorise discounts that strike the perfect balance between profitability and competitiveness:
Tracking your actual costs and sales figures, Gtrak helps you to monitor your profitability week in, week out:
If you are really serious about costing, you will want to drill down into the figures to understand why some products and some customers are more profitable than others.
With Gtrak’s advanced costing module, you cut the data in a number of different ways to perform highly sophisticated analysis of your costs.
However your business operates, Gtrak will allow you to create costing groups that allow you to look at your business and gain insights in completely different ways.
Using Gtrak to manage costs, glass manufacturers are working out exactly how profitable each of their customers and product lines is. More importantly, they are digging down into the details to see why some lines are less profitable than others and where they can make improvements to reduce costs. With these insights they are working out where sales people need to be targeting their efforts and where it is worth offering discounts to win more work.
If you are concerned that your understanding of your costs isn’t as complete as you need it to be, talk to us about making the best use of your Gtrak system, or how you might be better off with a new glass system.