The Logistics of Logistics Dynamic Pricing is Transforming Logistics with Zeke Ziliak
Zeke Ziliak and Joe Lynch discuss how dynamic pricing is transforming logistics. As Global Vice President, Transportation & Logistics Industries at PROS, Zeke and his team help transportation and logistics companies align supply, demand, and pricing decisions to realize additional revenue and profit.
About Zeke ZiliakZeke Ziliak is the Global Vice President, Transportation & Logistics Industries at PROS. At PROS, Zeke and his team provide science-based pricing strategies to transportation and logistics companies. Since Joining PROS 15 years ago, Zeke has held various positions of increasing responsibility. Positions include Senior Product Manager, Director of Business Development, and Executive Account Manager. Prior to joining PROS, Zeke was a music promoter and talent manager. Zeke began his career in corporate risk mitigation for an energy company. Zeke earned a Bachelor of Science, Biology/Chemistry from the University of Houston. Zeke attended UH as a National Merit Scholar on a full academic scholarship.
About PROSPROS (NYSE: PRO) provides AI-based solutions that power commerce in the digital economy. Using artificial intelligence, PROS accelerates customers' ability to embrace digital selling and eCommerce channels. With predictive and prescriptive guidance, companies are enabled to dynamically price, configure and sell their products and services across all channels with speed, precision, and consistency. PROS customers, who are leaders in their markets, benefit from decades of data science expertise infused into our industry solutions.
Key Takeaways - Dynamic Pricing is Transforming LogisticsDynamic Pricing Basics
- Dynamic pricing, also referred to as surge pricing, demand pricing, or time-based pricing is a pricing strategy in which businesses set flexible prices for products or services based on current market demands. Businesses are able to change prices based on algorithms that take into account competitor pricing, supply and demand, and other external factors in the market.
- PROS was founded in 1985 and became a pioneer in revenue management within the airline industry, PROS expanded into price management and price optimization by combining pricing science with software automation designed to help businesses increase revenue and profitability through improved pricing practices.
- Industries that PROS currently serve include airlines, automotive, consumer goods, distribution, energy & chemicals, food & beverage, manufacturing, medical devices & healthcare, services, technology, and transportation & logistics.
- Transportation and logistics was a natural fit for PROS because the industry depends on origin and destination data just like PROS original customers, the airlines.
- PROS B2B commerce platform is powered by artificial intelligence and a highly secured cloud infrastructure. PROS focuses on industry-specific pricing and selling challenges based on that industry's economy.
Dynamic Pricing in the Transportation and Logistics Industry
- Pricing fast and smart is crucial to a company's success in the transportation and logistics business.
- Pricing people in the industry, armed with increasingly better data, have developed very sophisticated pricing models.
- Even though the pricing people have gotten much better, there are still some challenges including:
- Data that is lacking, old, or not available.
- Pricing knowledge is inconsistent and usually in the head of a few smart, experienced indiviudals, not in systems that can be deployed across the organization.
- The lack of data and pricing systems causes inconsistent results.
- Even the best pricing people can not match the speed, accurracy, and insights provided by a dynamic pricing system powered by artificial intelligence.
- PROS dynamic pricing is the secret weapon that many industry leaders use to gain a competitive edge in pricing. Companies using PROS Dynamic Pricing Management Software gain the following advantages:
- Top line revenue increases of 2-5% and margin increases of 10%.
- Pricing based on real-time data, using proven scientific pricing models.
- More accurrate quotes, developed much faster, with less effort.
- Win rate optimal pricing that ensures that more of your quotes are accepted.
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The Logistics of Logistics Podcast