Terex Transforms Manual Processes into a Predictive, Seamless and Efficient Experience
Navigating and managing the pricing and inventory operations of a leading global manufacturer like Terex is an enormous endeavor that necessitates a cohesive, streamlined approach. This requires a centralized, transparent system that’s easy to use and supports standard processes that can be applied across all Terex organizations around the world.
Parts Planning
Syncron Parts Planning streamlines to help minimize manual tasks, eliminate overstock, and transform inventory data into actionable insights.
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Price
Syncron Price uses advanced technology to identify hidden pricing opportunities that positively impact business performance by maximizing sales, revenue, and service profitability.
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Talent and people are critical to the success of any organization. Coupled with that, we need world-class solutions to enable that team to be effective in their pursuit of excellence. Syncron offers us a world-class solution to drive forward on our pricing and our inventory journey.
The different modules from Syncron were rolled out step-by-step—not all at once—so it gives teams immense time to get familiar with one module before moving onto the next. Overall, it was a good journey with Syncron, and we are using it efficiently to get fair and realistic prices for a better customer experience.
At Terex, Syncron is really helping us to improve our aftermarket mission. As we are not only selling machines, we also need to ensure that our machines are up and running 24/7.
Full transcript
Paul Kearney, Vice President, Parts & Services, Materials Processing, Terex Corporation:
There’s a significant relationship between pricing and inventory. That’s typically driven by the common sharing of the data, which drives both key functions.
Kai Ostendorf, Director, Global Parts Strategic Pricing, Terex Corporation:
At Terex, Syncron is really helping us to improve our aftermarket mission. As we are not only selling machines, we also need to ensure that our machines are up and running 24/7.
Dmitry Shurmin, Director, Global Forecasting, Inventory Planning, Reporting and Data Analytics, Terex Corporation:
We have to be as much predictive as we can manage inventory proactively. That becomes more critical on the earliest lifecycle phase when we need to prepare parts buffer even before the first machine sells, anticipating potential machine failures, and be ready to provide the best possible service to our customers.
Paul Kearney:
The Syncron solution has enabled us to have a repository for all our pricing data. And that in itself is a very important factor in being able to drive our aftermarket journey forward.
Hunter Todd, Materials Manager, Terex Corporation:
With the tools that are within Syncron, it allows us to react quicker to changes that we see. Some of its analytical tools allow us to actually recognize and pinpoint where we’re seeing increases and allow us to adjust and make changes a little faster.
Kumar Nandlal, Parts Analyst & Administrator, Franna – A Terex Brand:
The solution and different modules from Syncron were rolled out step-by-step—not all at once. So it gives the team immense time to get familiar with one module before moving to the next. Overall, it was a good journey with Syncron, and we are using it efficiently to get a fair and realistic price for a better customer experience.
Bronagh McConnell, Price Analyst, Terex Corporation:
Within Terex, we have a lot of parts where you have the left-hand and right-hand counterpart. We can join those parts together so that they remain aligned throughout the pricing journey, and therefore improves the customer experience. The price appears logical to our customers.
Leo McElgunn, Global Master Planner, Terex Corporation:
From a daily user perspective, the changeover to Syncron went very smoothly and it only took a few hours of training for buyers to be comfortable and happy with using the system. We hope to use our pricing team expertise to better focus our inventory planning on the demand that they see in the market by where they place our products price-wise.
Paul Kearney:
Talent and people are critical to the success of any organization. Coupled with that, we need world-class solutions to enable that team to be effective in their pursuit of excellence. Syncron offers us a world-class solution to drive forward on our pricing in our inventory journey.