Price Optimization leverages machine learning to quickly identify opportunities and simulate pricing strategies for peak margin, profits, revenues and sales
ATLANTA, Aug. 20, 2020 (GLOBE NEWSWIRE) — Blue Ridge, a leader in supply chain planning and pricing solutions, announced today that Price Optimization, added to the Blue Ridge Supply Chain Planning suite in 2020, received a Bronze Stevie® from the American Business Awards® for Best New Supply Chain Management solution. Blue Ridge’s Price Optimization software leverages machine learning to quickly identify opportunities and simulate pricing strategies for peak margin, profits, revenues and sales.
According to a McKinsey & Company report on intelligent pricing, “A one-percent price increase would yield a 22-percent increase in EBITDA margins, and a 25-percent uplift in stock price. Moreover, pricing has a disproportionate impact on a distributor’s enterprise value, with an increase of 20 percent for a one-percent increase in price.”
“We support end-to-end pricing transformations, a strategy proven to drive earnings growth far beyond traditional margin-expansion methods for distributors, retailers, and light manufacturers,” said Cliff Isaacson, Blue Ridge executive vice president of product strategy. “We are honored by this award recognition since it validates the distinct economic benefits which Blue Ridge Price Optimization brings to our customers.”
Price Optimization by Blue Ridge is a data-driven approach that identifies both overpriced and underpriced products and provides accurate recommendations for aligning prices across products, channels and price points including wholesale, list and customer segments. Daily alerts on new products, cost changes, market-driven price changes and competitive price changes enable software users to react quickly across selling channels, as well as make recommendations on reducing excess inventory and shaping demand to create significant value and profit margin improvement.
“Price Optimization is inherently complementary to Supply Chain Planning since it has such a direct impact on customer demand forecasts,” adds Isaacson.
The 2020 American Business Awards® were determined by the average scores of more than 230 professionals worldwide in the three-month judging process. The Stevie® Awards are the world’s premier business awards, created in 2002 to honor and generate public recognition of the achievements and positive contributions of organizations and working professionals worldwide.
About Blue Ridge
Blue Ridge Supply Chain Planning and Price Optimization solutions empower distributors and retailers to tap into undiscovered margin through enterprise-wide inventory intelligence, automation and synchronization. Blue Ridge uniquely combines demand forecasting with pricing strategy, so that businesses can proactively understand the unpredictable and allocate the right inventory, right-priced across the entire mix, to accelerate top- and bottom-line results. In a world where the only constant is change, Blue Ridge provides more certainty, more speed and more assurance, so companies can see the why behind the buy and respond faster to the unexpected. That’s why major retailers and distributors rely on Blue Ridge for a more foreseeable future. For more information, go to www.blueridgeglobal.com.
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