New solution “Cifra Project: Repricing” is used to model variants of prices in retail chain enabling experts to make justified decisions on price changes for tens of thousands of stock items in hundreds of stores. The main goal of the solution is to react to purchasers’ demand in real time.
Moscow, Russia, December 25, 2017 — The need to react faster to the demand changes forces retailers to choose an automatic repricing tool to obtain alternative pricing variants and make decisions on-line. Automatic repricing directly affects the sales volumes and the specified stock level.
The product “Cifra Project: Repricing” consists of four components.
Firstly, Data Storage and Data Uploading System is a Microsoft SQL Server database containing data for analysis of stock, prices, discounts and calculation parameters and results.
Secondly, a Calculation Engine is used for calculating price variants according to the rules set by the user. It contains both blocks that cannot be changed by the user and a high-speed block for in-database calculations in which repricing algorithms can be changed. In-database calculations are developed using the latest capabilities of MS SQL Server and Analysis Services Tabular Model column-store databases. At present one calculation cycle for hundreds of stores and thousands of stock items is 10-15 minutes.
Thirdly, Automated Workstation for the analyst with the following capabilities: setup of calculation parameters in the startup window, selection of assortment and stores for inclusion in the calculation and setting of economic limit values.
Fourthly, Embedded Data Analysis System allows viewing source data and disclosing the progress and results of calculations made by the computer.
According to Alina Zennikova, Partner and PM in Cifra Project Company, “Manual control of repricing is unacceptable for a large retail chain if there are alternatives such as automated analysis and price variant calculation. The knowledge of experts in combination with Cifra Project solution allow achieving a high degree of optimization of the pricing control process.”
Cifra Project Company develops intelligent applications for decision making by humans and machines. The team of experienced specialists models, develops and implements for enterprises the high-performance expert systems with elements of Artificial Intelligence. Solutions of Cifra Project are used to plan and optimize stock and logistics processes, to analyze and plan marketing activities, to plan and optimize production.
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