In November 2012, Revionics, Inc., a cloud-based provider of merchandise optimization solutions, acquired SkuLoop, a provider of social commerce-driven promotions for retailers and consumer brands, from GIIV, Inc. Revionics’ solutions use predictive analytics and demand-based science to help retailers obtain the best results across all touchpoints in the multi-channel shopping realm—online, in-store, social, and mobile—by  aiding with decisions in product, price, promotion, placement, and space allocation. Read the rest of this entry »

Apparently, retailers are now aggressively adopting demand-based science and optimization technology to personalize and localize pricing, promotions, assortments, and space. Revionics seems to be benefiting from this trend. This is a greenfield opportunity as most retailers today are still using pesky spreadsheets or basic planning tools. With that being said, there is always competition, such as IBM DemandTec, SAS, or KSS. Pricing optimization is transformational technology, so retailers look at multiple vendors before making a selection. Revionics claims to be very happy with its win rate.

TEC blog post (Jan 2010): The Art, Science & Software Behind (Optimal) Retail Pricing – Part 5 

SOFTWARE SELECTIONS and GO-LIVES

Agricultural equipment manufacturer selects Abas ERP
Industry tags: manufacturing
“Canadian company Cadman Power Equipment Ltd., a manufacturer of special agricultural machinery and irrigation equipment has conducted an ERP selection project, and ERP from abas Business Software emerges the winner of this competition. The company was looking for a system as a single ERP package, without having to turn modules on or off, that would cover all the necessary operations. User interface had to be easy to navigate and quick to learn. Finally, the company wanted to purchase directly from the ERP developer,side-stepping integrators and VARs. Abas ERP was the best fit for these and other criteria.” — Aleksey Osintsev, TEC Research Analyst

Overview: abas Business Software
Compare abas Business Software with other leading ERP solutions!

Industrial electronics assemblies manufacturer chooses Epicor ERP to support its operations
Industry tags: manufacturing, electronics, high-tech
“IO Electronics, a UK-based assembler of comprehensive electronic components for various industries, such as defense and aerospace, petrochemical, automotive, and a few others, has an ambitious business growth plan that would require an adequate ERP-class software. The company selected the Epicor ERP system, with a long-term perspective. Unlike the existing inflexible system that has been in place for 10 years and which is limiting the company’s operations in many aspects, Epicor ERP will provide all required functionality and, as important, the flexibility and technical capability to grow along with its rapidly expanding business. Another notable consideration in selecting Epicor over five other ERP software vendors was the multiple additional features it offers within a standard package.” — Aleksey Osintsev, TEC Research Analyst

Overview: Epicor ERP
Compare Epicor ERP head-to-head with other ERP solutions!

Read the rest of this entry »

SOFTWARE SELECTIONS & IMPLEMENTATIONS

Seaspan selects IFS Applications to support its shipbuilding projects
Industry tags: manufacturing
“Seaspan is an association of companies primarily involved in multiple sea transportation businesses. Many such activities are project-based, which is IFS’ focus. No wonder that IFS was selected to provide an ERP system for Seaspan’s shipbuilding and repair facilities. Plus, it has a long track record of projects in the same industry, which is definitely a point in the vendor’s favor. Seaspan has also specifically mentioned that integration with its existing CAD system was a very important factor.” — Aleksey Osintsev, TEC Research Analyst

• Profile: IFS Applications
• Compare IFS Applications side by side with other engineer-to-order ERP solutions

GIS Federal chooses Deltek First GovCon Essentials
Industry tags: US government contractors (GovCon)
“This win is yet another proof that Deltek really has hardly any competition in this space. Deltek is differentiated by its deep GovCon functionality that hardly anyone can match combined with an easy-to-implement, easy-to-use software-as-a-service (SaaS) delivery model. The vendor is reportedly selling its Deltek First GovCon Essentials solution like gangbusters since it was introduced at the Insight 2011 conference. Well over 200 customers have already purchased the solution in a little more than a year. It’s been quite a success story and validates Deltek’s move to the SaaS model.” — P.J. Jakovljevic, TEC Principal Analyst

• TEC blog post (Apr 2012): Deltek Providing Clarity for Government Contractors

Read the rest of this entry »

Part 1 of this series expanded on some of TEC’s earlier articles about companies’ need for better pricing management and optimization practices. This series, which focuses on the complexity of pricing and promotions in retailing, was inspired by JDA Software’s recent “edu-nouncement” on leading retailers consumer-centric pricing and promotions strategies, and by Revionics’ recent (and still ongoing) educational series of Web-seminars.

Part 2 analyzed some common retailers’ practices and explained the frequently used vernacular terms. Then the post went into the building blocks of pricing optimization, starting with setting optimal initial (everyday) prices.

Part 3 analyzed the other two building blocks of pricing optimization: promotions and markdowns. Then, the post went into the next generation of pricing optimization according to JDA: Lifecycle Pricing.

Part 4 continued the series by analyzing the pricing optimization vendor landscape, and featured the next-generation pricing optimization approaches of two on-demand software specialists, Revionics and DemandTec. Coming at the heels of the National Retail Federation’s (NRF) BIG Show 2010, Part 5 will conclude the blog series by further analyzing the retail pricing optimization vendor landscape and other vendors’ approaches to the next generation of pricing optimization solutions. 

Read the rest of this entry »

Part 1 of this blog post series expanded on some of TEC’s earlier articles about companies’ need for better pricing management and optimization practices. This series, which focuses on the complexity of pricing and promotions in retailing, was inspired by JDA Software’s recent “edu-nouncement” on leading retailers consumer-centric pricing and promotions strategies and by Revionics’ recent (and still ongoing) educational series of Web-seminars.

Part 2 of this series analyzed some common retailers’ practices and explained the frequently used vernacular terms. Then the post went into the building blocks of pricing optimization, starting with setting optimal initial (everyday) prices.

Part 3 analyzed the other two building blocks of pricing optimization: promotions and markdowns. Then the post went into the next generation of pricing optimization according to JDA – Lifecycle Pricing.

Part 4 continues the blog series by analyzing the pricing optimization vendor landscape and various vendors’ approaches to the next generation of pricing optimization solutions. 

Read the rest of this entry »

Part 1 of this blog post series expanded on some of TEC’s earlier articles about companies’ need for better pricing management and optimization practices. This series, which focuses on the complexity of pricing and promotions in retailing, was inspired by JDA Software’s recent “edu-nouncement” on leading retailers’ consumer-centric pricing and promotions strategies and Revionics’ recent (and still ongoing) educational series of Web-seminars.

Part 2 of this blog post series analyzed some common retailers’ practices and explained some of the frequently used vernacular. Then the post went into the building blocks of pricing optimization, starting with setting optimal initial (everyday or base) prices.

Part 3 of this blog post series will analyze the two other building blocks of pricing optimization: promotions and markdowns. Then, the article will go into the next generation of pricing optimization according to JDA: “Lifetime Pricing.” Read the rest of this entry »

Part 1 of this blog post series expanded on some of TEC’s earlier articles about companies’ need for better pricing management and optimization practices. This series, which focuses on the complexity of pricing and promotions in retailing, was inspired by JDA Software’s recent “edu-nouncement” on leading retailers’ consumer-centric pricing and promotion strategies and Revionics’ recent (and still ongoing) educational series of Web-seminars.

To recap Part 1: due to the phenomenon of the “cross-elasticity” of demand, retailers may want to consider whether promoting an item would result in increased sales volume and, if so, whether that increase would represent incremental revenue or merely cannibalize sales of other items. Retailers have to be able to compare items on promotion against the entire department, product category, and subcategory. Read the rest of this entry »

The “Four Ps” of marketing strategy, also known as the “marketing mix,” are basically applicable to all businesses. TEC’s two-part blog post series in 2008 talked about the importance of pricing management in a down economy. Price and promotion in particular are the lubricants in retailing, although the two remaining Ps–product and place, are indisputably important there as well.

In his guest author article in Retail Info Systems (RIS) News, Wayne Usie, senior vice president of retail at JDA Software, remarks that one doesn’t have to go far to see the impact the economy is having on retailers. The evening news is plagued with store closings, while “going out of business signs” and ominously empty “for rent” spaces seem to pop up on every corner. Read the rest of this entry »

Part 1 of this blog series expanded on some of TEC’s earlier articles about companies’ need for better pricing management and optimization practices. It also introduced the FUD (fear, uncertainty & doubt) notion about how appropriate these solutions might be in a down market. It appeared that at least the service sector (including spare parts pricing) remains largely impervious to the economic climate (if not even bolstered by a downturn).

So, What’s in Store for Pricing Management Solutions?

Given that the way the manufacturing suppliers position their products and pricing changes with the economy, natural question is whether pricing solutions providers will suffer or blossom these days. Namely, during good times positioning is about increasing revenue, and that case has been proven by pricing optimization solutions. However, in bad times it is rather about lowering costs where pricing doesn’t seemingly help, but rather procurement-oriented applications. Read the rest of this entry »