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.
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“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“In today’s volatile times, businesses can no longer afford to function blindly and just keep producing goods based on outdated data, inaccurate assumptions, or simply gut instinct.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.”