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Fri September 24 2021

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Terex Corporation forms new parts partnership

7 Sep 18 Manufacturer Terex Corporation is teaming up with technology business Syncron to improve the pricing process and fulfilment for its service parts.

Terex, which make aerial work platforms, cranes and materials processing equipment, is undergoing a multi-year transformation program to simplify its business processes. As part of the transformation process, Terex identified ‘lifecycle solutions’ as a critical area for optimisation, including improving service parts fulfilment and pricing. 

Syncron provides of cloud-based after-sales services to manufacturers.

“As part of our transformation at Terex, we are focused on increasing value for our customers through the complete product lifecycle,” said Derek Everitt, vice president, Terex transformation program. “We identified our service parts operations as a priority, and Syncron’s full suite of after-sales service solutions was a good fit. Syncron Price will enable us to manage pricing on approximately half a million service parts in a more strategic manner than we have in the past.”

To make the pricing process more efficient, Terex looked for a system that could reflect its strategic approach to parts pricing and enable price adjustments based on market conditions.

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Everitt added: “In a world where trade policies can change seemingly overnight and new tariffs can affect the cost of products almost instantly, we need the infrastructure to react quickly. Syncron Price will enable us to be nimble in our approach to service parts pricing.”

In the near-term, Terex aims to develop consistent processes and procedures around service parts pricing, while configuring and implementing the solution. As the transformation unfolds, Terex plans to optimise the complete service supply chain, aligning marketing, distribution and part availability.

“It is now more important than ever to have the technologies and resources in place to ensure the customer experience is consistent at every touch point,” said David Reiling, chief customer officer at Syncron. “We are thrilled to partner with Terex as part of its transformation journey and believe we can help take them to the next level of customer support via optimized service parts pricing.”

Syncron Price will be implemented across Terex Corporation’s global business segments in a phased approach based on operational priorities within each.

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