SIGNALS 2008: Manufacturers Gather to Discuss Changing Markets and Volatility
At last week’s SIGNALS 2008, SignalDemand’s annual executive summit, I was honored to participate in discussions and listen to presentations from renowned economists, pricing experts and senior manufacturing executives on the theme of “Forecasting the Future.”
The event was a reality check in terms of what the manufacturing industry is facing - a tightening squeeze due to continuing input cost volatility and, now, an economic crisis that weighs on both ends of the industry: pressure on the production side and shifting demand on the consumer side. But, SIGNALS also offered expert words of wisdom and practical advice on the importance of price strategy to help manufacturers not only survive, but actually thrive in these times.
Some highlights from SIGNALS:
- Dan Ariely, Ph.D. and Duke University professor, shared his astute observations on negotiations and our own weaknesses (more on this in future CPO posts).
- Gary Ray, president of Hormel, highlighted the importance of forecasting and price strategy at Hormel Foods.
- CPO panel: Pricing experts Bill Chandler from Cargill and Scott Newman from Ventura, demonstrated how they have truly elevated the pricing function within their organizations.
- Tom Elam, Ph.D. and president of FarmEcon, an agricultural and food industry consulting firm, presented impressive research on the changing linkages between food and fuel.
Bottom line: If you deal with price strategy in manufacturing, SIGNALS is a must-attend event.
