In an age of automated ports and AI-powered hiring, many companies’ go-to method to manage pricing is amazingly low-tech — typically a mash-up of emails, spreadsheets and disjointed business intelligence tools.

The pressures on supply chains remain enormous, leaving many supply chain professionals with a key question: Is there a better way to work with suppliers, including critical outsourcing partners such manufacturers and third-party logistics providers?

Executives need as many tools as possible at their disposal to weather both the COVID-19 pandemic and broader economic headwinds. Pricing power should be an integral part of any decision-maker’s toolkit.

For many businesses, the past year exposed the fragility of their cash flow and working capital. The pandemic, coupled with supply chain disruptions and erratic consumer demand, wreaked havoc on companies facing both internal and external pressures.