Quote conversion

Orders placed against quotes issued, by count and by value, per customer, product family, estimator and turnaround band, from the quote log joined to the order book on the quote reference. Price-check customers, priced-out families and slow quotes each show as a cell.

DefinitionOrders placed against quotes issued, by count and by value, per customer, product family, estimator and turnaround band, from the quote log joined to the order book on the quote reference. Price-check customers, priced-out families and slow quotes each show as a cell.

Needs the reference

Orders that do not reference quotes cannot be joined, and that process gap is the first finding.

Turnaround

Quotes over a week old convert at a fraction of the rate of quick ones at most manufacturers. The cheapest lever.

How it is computed

Quotes matched to orders, by reference or by customer, item and window, divided by quotes decided, by count and by value, with open quotes excluded.

Example

Of 1,000 quotes, 405 converted: 40.5 percent by count and 25 percent by value. One customer converted 4 of 50.

Where it goes wrong

A loose match on customer alone, which counts repeat orders that were never quoted.

Articles that use this term

Data quality and reconciliation

Product taxonomy for analytics: lines, families and SKUs, and which level each measure uses

Why a product list with four hundred SKUs produces whitespace everywhere and a concentration figure that means nothing, the three levels a product taxonomy needs, line, family and SKU, which measure is computed at which level, the rule that a SKU belongs to exactly one family and a family to exactly one line, the dated mapping that survives a range change, and the identity that revenue sums identically at every product level.

16 Sept 20263 min read Forecast and pipeline · Industrial manufacturers

Quote-to-order conversion per customer: the quotes that go nowhere, and why

How an industrial manufacturer measures the share of quotes that become orders per customer, per product family and per estimator, from the quote log and the order book: conversion by count and by value, the customers who request many quotes and place few orders, the product families where the price is losing, the lead time on quotes that convert against those that do not, and the identity that ties converted quotes to booked orders.

16 Sept 20263 min read Wallet share and penetration · Industrial manufacturers

Ten questions a manufacturer's VP of aftermarket asks, and the table that answers each

The ten questions a vice president of aftermarket at an industrial manufacturer puts to the service and parts teams, which customers run our equipment on someone else's parts, which units come off warranty next quarter with no contract offer, is the installed base register complete, which batches are claiming above the model's rate, which customers claim above the norm across batches, which quotes convert and which are price checks, which distributors and direct accounts double count, what is catalogue fit per customer, which service contracts renew with a bad claims history, and what changed, each with the table from the installed base register, the claims file and the ledger, and the answer to send back.

16 Sept 20263 min read Alternatives and comparisons · Construction and building materials