Breakthrough AI-powered solution eliminates dead stock, beating leading pricing software while leveling the field for fast-growing businesses competing with global players
ThroughPut Inc, the Industrial AI Supply Chain pioneer, announced updates of its Pricing and Promotion software capabilities, which leverage AI to predict demand and accordingly inform pricing and promotion strategies to maximize profitability. The new capabilities enable businesses to solve the unending challenge of balancing their inventory-to-sales ratio with accurate demand planning and buyer behavior analytics. By visualizing potential pricing scenarios and creating price-adjusted forecasts that align production, inventory, and promotion decisions, businesses gain the power to price their products with razor-sharp precision, based on true demand signals, thus enabling more effective promotion and sales at minimum inventory carrying cost.
In a world rapidly running short on resources, businesses are experiencing an increasingly urgent need for real visibility into customer behavior and price sensitivity – not dated forecasts and assumptions – and how pricing impacts production, supply chains, and ultimately the bottom line. ThroughPut’s pricing and promotion intelligence offers businesses unprecedented visibility into customer actual behavior and market constraints, as well as proprietary intelligence on how best to optimize operations – including at the local, regional and global SKU level. This enables businesses to meet demand profitably, without risking either understocking or overstocking. The use of AI not only allows businesses to sense demand variations in real time – and proactively respond to them by adjusting inventory levels to match anticipated sales – but also affords them the freedom to analyze several campaign scenarios at scale to identify the most profitable strategy, all in light of existing supply constraints.
Read More:Â Â Salesforce Grants Equity Awards To Troops.Ai Employees Under Its Inducement Equity Incentive Plan
“With the wealth of data that nearly all businesses have access to these days, there’s really no excuse for not understanding the triggers for buying decisions – and how big a role price plays in them,” explained Ali Raza, Founder and CEO of ThroughPut. “In today’s volatile times, businesses can no longer afford to function blindly and just keep producing goods based on outdated data, inaccurate assumptions, or simply gut instinct. As market conditions become increasingly unpredictable, they are left with the unenviable job of ensuring predictable revenue with an otherwise unpredictable supply chain. But that can only be achieved by adopting a demand-first approach, layered with an intelligent pricing and promotion strategy.”
With the holiday season approaching, businesses need a much deeper understanding of how they can optimize their inventory to move products out faster with the least touch points, while simultaneously reducing waste,” said Alla Anashenkova, Head of Product. “Businesses can no longer afford the expensive mistakes resulting from demand-supply variance. They not only need to be able to look ahead, proactively predict changes in customer demand, and adjust priority of products in the mix, but also adapt operations and marketing campaigns to respond to these changes in real time – all the while working within existing procurement and logistics constraints to ensure just the right supply reaches the customer. This is where AI comes in so handy. It’s incredible ability to pick up on important changes in buying behavior at scale helps you effectively plan campaigns to promote higher-margin products better – in essence influencing demand. By having both visibility into sales priorities and realistic operations capability to execute, you acquire control in all key areas of your operations including production, inventory, and distribution.”
With its iconic vision, ThroughPut helps businesses around the world minimize wastage of resources, increase shareholder value, and drive sustainable operations. ThroughPut currently supports multiple businesses globally, including some of the largest food processing and packaging companies in the world, many of the largest cement and building materials manufacturers in the world, and leading global retail and airline giants, to offer supply chain actionability at every stage of the supply chain.
Read More:Â Â SalesTechStar Interview with Glenda Sims, Chief Information Accessibility Officer at Deque Systems
