Soon, the hunt will be on for the pricing power as well.

"This industry and our company has no pricing power," he said.

Higher rates are necessary, according to this view, to contain that pricing power and bring down the inflation rate.

Manufacturers have very little pricing power because customers now assume that information technology prices will always fall.

The pricing power of the procurer as against the supplier.

But at bottom it was in an industry with no pricing power.

"They have turned it into an industry where you can show pricing power and earn an honorable return on capital," he said.

"But as demand increases for their products, they have tremendous pricing power," he added.

"The days of untapped pricing power are over," as one media expert put it.

These can include new contracts, increased pricing power or consolidation of operations.