List Price Optimization Overview
With the Rampur 13.0 release List Price Optimization considers more factors to fine tune your list prices.
The enhancements in this release allow you to automatically optimize your list prices to align seamlessly with your pricing strategy. You can consider multiple rules and business constraints concurrently. Powered by AI, this solution eliminates the need for complex manual calculation rules and leverages historical data for improved result relevance with full transparency.
NEW: List Price Optimization is a new accelerator introduced in Rampur 13.0
Enhancements for Rampur
Additionally, in the Rampur release there are new enhancements to the system:
Optimize your list prices automatically to align with your price strategy.
Take into account multiple rules and business constraints at the same time.
Enforce the price differences across multiple product groups (for various brands, life cycles, or for customers' specific conditions).
Run several scenarios and choose the most suitable based on simulation results.
Powered by AI, without having to define any complex manual calculation rules. Utilize historical data to better result relevancy. 100% transparent calculation.
Productized AI Optimization use case, available as Accelerator to get to value quickly.
Advantages of Optimization
You can now tailor your optimization strategy based on your utilization of price elasticity, allowing you to customize and maximize the impact of your list price changes. When leveraging price elasticity, prioritize the optimization of revenue and profit to achieve optimal outcomes. Alternatively, if you are not utilizing price elasticity, target an increase in margin rate to enhance profitability. This approach allows you to make informed decisions that align with your business goals to drive growth.
UPGRADE VALUE: Possibility of considering multiple rules and business constraints simultaneously and run simulation scenarios. Moreover, you get all this done automatically with the help of AI.
LEARN MORE: To learn more about this feature in Optimization, click here to access the complete documentation.
Product Groups Alignment and Cost Trends
Organize the alignment of product groups, such as private and premium brands, to establish targeted list price change variations and priorities for each group. Ensure flexibility to adapt to cost trends in response to market fluctuations, inflation, and changing circumstances. By staying competitive and sustainable, you can effectively navigate evolving market conditions and maintain a strong position in the industry.
Alignment Criteria for Product Groups
In Rampur 13.0 you can choose the types of business alignment for product groups. Moreover you can now align attributes and use minimum and maximum gaps for the right price positioning.
Optimization Results
In Rampur you can now simulate the changes in List Prices and their corresponding impact from various perspectives.
Compare the existing values with optimized opportunities directly on a single screen, facilitating a comprehensive view of the optimization outcomes. Explore the detailed optimization results, such as per product, product group, or customer groups, to gain insights into the effectiveness of the pricing strategies.
With all this you can make informed decisions based on a thorough analysis of the optimization results across different dimensions, enhancing pricing efficiency and profitability.