Webinar: Managing Profitability When Raising Your Prices Is Not An Option
Food manufacturing is a complicated business. While the majority of your success and revenue is determined by the uniqueness of your product, marketing strategy and vendor relationships, uncontrollable market factors can also get in the way. Cost of materials, transportation costs and economic stability can all play a role in the profitability of your business.
When profits are down due to external factors, it can be tempting to reverse the trend by increasing the price of your products. This is a mistake. Those same external factors are also affecting your customers, and higher prices will only lead them to seek alternatives.
During this webinar (held Wednesday, August 31, 2016), JustFoodERP Product Manager, Jay Lebo and Senior Application Consultant, Todd Austin will review the internal measures that food processors and manufacturers can take to keep costs down and profits high without raising the price on their customers.