Revionics’ mission is to increase retailer profitability by enabling better management of price, promotion, markdown, inventory, assortment & space. Revionics is unique in that we offer an integrated solution that shares a common demand forecast across all of these functions. In this article, I answer the question, “Why is an integrated solution better than individual point solutions?”
By: Susan Boyme, Vice President of Marketing, Revionics, Inc.
As Revionics announces the release of Collaborate, our new supplier portal for retailers, it causes me to reflect on the web-based trading exchanges, marketplaces, and other “one-to-many” and “many-to-many” models I have bumped into over the past 15 years. Regardless of model, the most successful initiatives have one thing in common – the party sponsoring the initiative must be the buyer. Supplier-driven models are well intentioned, but don’t get traction.
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.
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.
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.