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Private brands continue to gain foot hold

Monday, 15 February 2010 00:00

By: Mike Isom,  Managing Principal Consulting, Revionics, Inc

For the past 2 years, retailers’ private brands have been the topic of much discussion. In the failing economic conditions we are experiencing, many consumers look to private brands as a way to stretch their budget. Retailers have reacted by continuing to introduce additional offerings and manage favorable pricing positions that have also been one of very few bright spots in a mostly bleak sales and profit battle field.

By: Todd P. Michaud,   President & CEO,  Revionics, Inc.

I saw a very good article carried in Supermarket News yesterday written by Michael Garry.    The article was called “Bouncing Back” and it summarized anticipated retailer spending forecasts on information technology.   Read the article here.   I was pleased to see the increased acceptance that Software-as-a-Service has gained given its advantages for retailers.   I was also very enthusiastic about the increasing importance that retailers are placing on Price Optimization, Promotion Planning, Trade Promotion Management, and Computer Based Ordering, all things that are core to the Revionics solution portfolio.   With the National Grocers Association show occurring this week, the article was very timely.

“Another bad UPC from a vendor!  Why are we still using pen and paper to manage vendor deals?” This is a real quote from a retailer I was working with last year on a promotion planning project.  This retailer was depending on vendor’s hand-written information. The UPCs entered on deal sheets were frequently in error. “There must be a better way!”

Yes there is a better way and help is on the way. Revionics is on schedule to release RAPS Collaborate in April this year.  This vendor collaboration portal is a common platform for retailers and their vendors to exchange information, plan deals, and execute reporting.

By: Christie Frazier-Coleman, VP Consulting, Revionics, Inc.

Frank Badillo a Senior Economist for Retail Forward in his November 6, 2009 Washington Post article stated:

“Don't expect shoppers to abandon their hard-earned lessons in frugality even if the economy starts picking up.  Households remain focused on shopping for needs, and this kind of cautious shopping behavior will restrain sales improvements.”

Replenishment- The next frontier for Revionics

Tuesday, 29 December 2009 00:00

By: Todd P. Michaud, President & CEO, Revionics, Inc.

Over the next couple of weeks, Revionics will be announcing RAPS Replenishment, a fully comprehensive inventory management, forecasting and order optimization system.   We intend on demonstrating this system to prospective customers at the annual NRF show in New York on January 11th and 12th.   General Availability (GA) for customers will be April 1, 2010.  The completion of this module will be a significant accomplishment for our development team.

By: Christie Frazier-Coleman, VP Consulting, Revionics, Inc.

According to Antony Karabus, President and CEO of Karabus Management these five strategies for retailers are important in order to emerge as a strong retailer.

1. Optimize cash and cost management

2. Understand what is relevant and motivates your customer

3. Use science to improve gross margins and inventory productivity

4. Invest in technology correctly and on the right projects

5. Get your supply chain right

Revionics has pioneered the delivery of price, promotion, and markdown optimization thru the Software-as-a-Service (SaaS) model. This delivery model is much more cost effective than either on-premise or on-demand delivery. Instead of purchasing a software license up front and then paying annual maintenance, SaaS is a subscription-based offering where retailers pay-as-you-go. Revionics assumes all the risk of owning and managing the hardware. All customers are on the same version of the software, so up it is much easier to manage for Revionics---and more cost effective for the retailer. Most importantly, the SaaS model aligns the interests of Revionics with the retailer because is the solution does not deliver value, the retailer is free to cancel their subscription.

Leaving Excel for a More Modern Era

Thursday, 19 November 2009 00:00

By: Jeff Smith, EVP and Founder, Revionics, Inc

Don’t be embarrassed…You may think that everyone else in the retail industry is using advanced pricing tools and that you are still in the era of the dinosaurs; the fact it: you are in the land of the dinosaurs, but so is the majority of retailers!

Many retailers that I talk to appear to be somewhat embarrassed, and reluctant to admit that they still do their everyday and promotional pricing in Excel. The truth of the matter is, there really hasn’t been a better tool until recently. Advanced price optimization tools have recently been introduced into the retail arena, before that, margin management and competitive positioning was about all that could be leveraged to determine the best price point.

By: Todd P. Michaud, President and CEO, Revionics, Inc

Looking back, when Revionics first developed the Promotional Planning module, we really did not know the exact capabilities we were going to be featuring. However, Revionics truly has cultivated a distinct Promotion Planning modeling module. In all reality, we were hoping to help customers take the guess work out of determining which items to promote and at which price to promote them at. Conversely, Revionics’ Promotion tool possesses more than that.

14 Tips to Implementing Successful Projects

Tuesday, 03 November 2009 00:00

By: Christie Frazier-Coleman, VP Consulting, Revionics, Inc

In my retail career, I have had the opportunity to implement many types of software.  Each and every selection and installation had the intent of assisting the business to improve processes, implement new strategies, and increase efficiencies.  Companies today are looking for tools to squeeze extra margins, reduce costs, and help make better decisions.  How do the great companies succeed in capturing the changes and efficiencies needed from those investments?