20/04/2023
The ripples of Brexit and the virus pandemic have caused seismic shifts in our economy, now facing an escalating cost of living as fuel & energy prices skyrocket and material costs escalate. With inflation on the rise, we must brace ourselves for a challenging year ahead!
How can you safeguard your pricing from fluctuating market forces amid the current uncertainty? Uncover methods for long-term stability in bids and tenders.
Ready for a helpful tip? We have plenty to share with you!
โก๏ธRemind your clients that pricing reviews can work both ways.
Prices of some raw materials (particularly those with petroleum-based components) are at an all-time high currently. However, pricing tenders based on these costs is disadvantageous to buyers, so fluctuation provisions in contracts could benefit them too โ prices fluctuate down as well as up, so having provision for this in their tenders may enable them to realise potential projects savings sooner, i.e. if material costs stabilise. You can reduce your pricing to pass on these savings.
