November 12, 2013
Experts will educate graduate students on life cycle price optimization and how the technology helps retailers compete more profitably
AUSTIN, TX – (November 12, 2013) – Revionics, Inc., the leading provider of End-to-End Merchandise Optimization solutions, announced today that its Senior Pricing Strategist Juan Jose (JJ) Thorne and Vaibhav (Vai) Anand, Senior Pricing Analyst with Tractor Supply Company (NASDAQ: TSCO), will be speaking at The Vanderbilt Owen Graduate School of Management on November 14, 2013, about Retail Life Cycle Price Optimization including everyday or base pricing, promotion and markdown. Tractor Supply Company is a customer of Revionics and the largest retail farm and ranch supply store chain in the United States. The details of the session are below:
- WHEN: November 14, 2013, 11:20 a.m. and 2:00 p.m. (CST)
- WHERE: The Vanderbilt Owen Graduate School of Management
- WHO: Juan Jose (JJ) Thorne, Senior Pricing Strategist for Revionics; Vaibhav (Vai) Anand, Senior Pricing Analyst for Tractor Supply Company
- WHAT: Speaking at The Vanderbilt Owen Graduate School of Management.
- TITLE: Retail Life Cycle Price Optimization (Management 568: Pricing Strategies | Kelly L. Haws, Associate Professor of Marketing for The Vanderbilt Owen Graduate School of Management)
Today’s retailers are battling intense competitive pressures as channel lines blur and more – informed and technology-savvy shoppers demand better competitive prices. For retailers to find success in today’s price transparent world, they need to replace gut-feel pricing with optimization technologies that enable the execution of shopper-centric pricing strategies and tactics across the life of a product – every day price, promotion and markdown – tailored to a retailer’s channels. This session will discuss the basics of demand-based science – price elasticity and item/store level demand modeling, how optimization technology integrates science, business rules and constraints and business and financial strategies to derive price, promotion and markdown recommendations that drive to a retailer’s strategic and financial objectives and the typical financial benefits that are achieved.
“I am excited to have both JJ and Vai come and provide my pricing strategy students with an inside look into sophisticated analytic techniques for pricing approaches,” said Kelly Haws, Associate Professor of Marketing for The Vanderbilt Owen Graduate School of Management. “Their experience and knowledge will emphasize the dynamicity and excitement of pricing challenges and the solutions that help to derive the greatest value from company’s product offerings. This insight will be very informative for students pursuing careers in a wide variety of industries, while also underscoring the importance of data analytics in making well-informed business decisions.”
About Revionics, Inc.
Revionics delivers the industry’s most powerful End-to-End Merchandise Optimization solution, enabling retailers of all sizes to execute a fact-based Omni-channel merchandising strategy utilizing the most comprehensive set of shopper demand signals to enhance financial performance with improved customer satisfaction. Revionics’ solutions leverage advanced predictive analytics and demand-based science to ensure retailers have the right product, price, promotion, placement and space allocation for optimal results across all touch points in the Omni-channel shopping episode – online, in-store, social and mobile. Offered on a scalable, high performance Cloud-based SaaS platform, these solutions future-proof retailers from Big Data/Fast Data challenges, while providing speed-to-ROI. Over 33,000 retail locations and $140+B in annual revenue across grocery, drug, building materials, convenience, general merchandise, discount, sporting goods stores and eCommerce sites optimize with Revionics’ solutions. Revionics has been recognized as a 2012 Deloitte Technology Fast 500™, Red Herring Top 100 Global, Red Herring Top 100 Americas and JMP Securities’ Hot 100 Software Company. For more information, please visit www.revionics.com.
About Tractor Supply Company
As of September 28, 2013, Tractor Supply Company operated 1,245 stores in 47 states. The Company's stores are focused on supplying the lifestyle needs of recreational farmers and ranchers. The Company also serves the maintenance needs of those who enjoy the rural lifestyle, as well as tradesmen and small businesses. Stores are located in towns outlying major metropolitan markets and in rural communities. The Company offers the following comprehensive selection of merchandise: (1) equine, pet and small animal products, including items necessary for their health, care, growth and containment; (2) hardware, truck, towing and tool products; (3) seasonal products, including lawn and garden items, power equipment, gifts and toys; (4) maintenance products for agricultural and rural use; and (5) work/recreational clothing and footwear. For more information, please visit www.tractorsupply.com.