Valuable data insights for purchasing

Pricing plays a central role in more than one way for retailers. For one, it allows them to stay competitive and pursue market strategies. This opens up an array of challenges relating to product line planning, price simulation and strategy management. This is where our solution comes into play: Purchasing agents receive up-to-date data presentations and detailed analyses that enable them to plan product lines with precision. More specifically, the simulation of current prices creates the framework needed to develop effective market strategies.

Standard communication channels often lead to planning miscues, especially when tasks are assigned to a number of employees in the purchasing department. A management summary creates the transparency needed to manage the individual tasks and provides concise insights into the current planning status via dashboards. By having consistent data, the purchasing management is able to ensure price compatibility and make sure that information on current trends in prices or specific market conditions are not lost.

AI-based dynamic pricing gives you the tools you need to optimally price your products. This involves taking into account a multitude of factors that influence prices, making it possible maximise margins at the individual product level, which has a direct impact on revenue.

The different criteria are established and defined in order to allow prices to be set at a store level. The available geodata is a valuable tool here. If necessary, these criteria can be augmented with further external sources. Based on the KPIs generated based on this information, structured price testing is performed to establish price elasticities. These are then used to optimise the gross profit per product.

Demand forecasting uses AI to support retailers in assessing market developments and optimising their sales process. The demand forecasting solution helps you plan for the future. It draws on historical sales data as well as external data factors and forecasts future demand so you can make better, data-driven decisions.

We take a step-by-step approach to ensure the success of your project, create the conditions necessary for optimal integration into your target environment and allow you to look into areas where improvements can be made early on.

We focused closely on the potential of digitalisation in purchasing. In the course of our work, we often come across well-established tools such as Excel which are being used in price management and planning. Even if these applications deliver results, they are unsuitable for business process optimisation in our day and age. We are there to support you with innovative products to ensure that predictable and foreseeable events are taken into account.

Would you like to learn more about topics such as data dashboards, dynamic pricing or demand forecasting? Then take advantage of our initial workshop, where we work with you to define the basic framework for your custom solution. Once this step is complete, we create a proof of concept based on the workshop results. Going from there, we produce a report on the viability of your project and help you make a decision on whether or not to go ahead with it in order to avoid making a bad investment.