Price changes are hard to manage and align with overall corporate strategies, forcing retailers to manage prices at too-high levels, potentially losing margin and/or too infrequently, potentially losing sales to the competition.
How we solve it
Dataviva Price Automation integrates rule-based pricing, price optimization and our real-time capabilities to dynamically manage pricing at high or low-level, down to SKU/Store.
The retailer can define price constraints at any level: legal, supplier-based, strategy-driven and set up price rules across price zones (stores or channels) and within product pricing groups. We can easily manage competitor-based pricing strategies and automatically calculate optimal product/channel prices within the defined constraints.
Price recommendations can be triggered in real-time based on competitor prices or inventory availability, allowing for true dynamic pricing when coupled with electronic shelf labels. Price changes can be approved automatically, managed by exception or by business users.
- Dataviva acquires in real-time data such as competitor prices, actual & forecasted sales, projected inventory, market out-of-stocks, etc. and immediately triggers automatic and optimized price recommendations
- Price recommendations consider defined pricing strategy and tactics as well as financial KPIs
- Once approved, prices can be sent to digital price tags, e-com or store servers right away or based on a predefined schedule