Terex® Chooses Syncron to Help Take Global Service Parts Pricing to a New Level

Global equipment manufacturer to improve service parts pricing process

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Sep 06, 2018, 09:49 ET

ATLANTA, Sept. 6, 2018 /PRNewswire/ -- Syncron™, a provider of cloud-based after-sales service solutions focused on empowering the world's leading manufacturers to maximize product uptime and deliver exceptional customer experiences, today announced Terex has selected Syncron Price™ to optimize its global service parts pricing.

Terex Corporation, one of the world's largest manufacturers of aerial work platforms, cranes and materials processing equipment, is undergoing a multi-year transformation program to simplify its business processes and ultimately better serve its customers by implementing its Execute to Win business system. As part of this transformation process, Terex identified Lifecycle Solutions as a critical area for optimization, including improving service parts fulfillment and pricing.

"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 their strategic approach to parts pricing and enable price adjustments based on market conditions.

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."

When determining criteria for a service parts pricing solution, Terex sought one that was easy to use, a clear market leader and had a high performing customer base within the heavy equipment and industrial machinery industries. After looking at several vendors, the company ultimately chose Syncron because of its clear track record of success within the durable goods manufacturing space.

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 optimize 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. We look forward to our continued success together."

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

To learn more about Syncron and its service parts pricing solution, visit syncron.com.

About Terex
Terex Corporation is a global manufacturer of lifting and material processing products and services that deliver lifecycle solutions to maximize customer return on investment. The Company reports in three business segments: Aerial Work Platforms, Cranes, and Materials Processing. Terex delivers lifecycle solutions to a broad range of industries, including the construction, infrastructure, manufacturing, shipping, transportation, refining, energy, utility, quarrying and mining industries. Terex offers financial products and services to assist in the acquisition of Terex equipment through Terex Financial Services. Terex uses its website and its Facebook page to make information available to its investors and the market.

About Syncron
Syncron empowers the world's leading manufacturers to maximize product uptime and deliver exceptional after-sales service experiences, while driving significant revenue and profit improvements. From industry leading investments in research and development, to providing the fastest time-to-value, Syncron's award-winning, cloud-based service parts inventory, price and uptime management solutions are designed to continually exceed customer expectations. Top brands from around the world trust Syncron to transform their after-sales service operations into competitive differentiators. For more information, visit syncron.com.

SOURCE Syncron