The System
OptiRetailChain
Per-Store Price Optimization Solution is a decision-support system (US patent pending) that enables retailers to make the most intelligent and profitable pricing choices.
- OptiRetailChain
uses existing prices, sales and inventory data, and other operating information, along with real-world business rules and constraints.
- Based on sophisticated mathematical models, OptiRetailChain provides per-store optimal pricing recommendations, and issues revenue and demand forecasts.
- After adoption of price recommendations, OptiRetailChain sends optimal prices from central computer to Electronic Shelf Labels (ESLs).
- Using ESL system allows retailer to promptly implement price changes proposed by the Price Optimization software, resulting in significant labor savings and guaranteed pricing accuracy.
The Benefits
- OptiRetailChain enables retailers to optimize regular and clearance prices from a single integrated solution.
- Using OptiRetailChain, retailer will be able to make optimal pricing decisions for individual stores, instead of across the chain, eliminating costly and unnecessary markdowns/markups.
- Using OptiRetailChain, retailers are empowered to take action based upon scientific optimization methods.
- ESL system guarantees pricing accuracy and promotional information delivery and it will provide a higher trust level to the consumer.
|