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OptiRetailChain
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Makor Company has developed an OptiRetailChain Retail Optimization Solution.
It is comprised of:
OptiRetailChain
Per-Store Price Optimization Solution is a decision-support system (An US patent 7,379,890
has been received for the Per-Store Price Optimization system) that enables retailers to make the most intelligent and profitable pricing choices.
- OptiRetailChain
uses existing prices, sales and inventory data, and other operating information, along with real-world business rules and constraints.
- Based on sophisticated mathematical models, OptiRetailChain provides per-store optimal pricing recommendations, and issues revenue and demand forecasts.
- After adoption of price recommendations, OptiRetailChain sends optimal prices from central computer to Electronic Shelf Labels (ESLs).
- Using ESL system allows retailer to promptly implement price changes proposed by the Price Optimization software, resulting in significant labor savings and guaranteed pricing accuracy.
The Benefits
- OptiRetailChain enables retailers to optimize regular and clearance prices from a single integrated solution.
- Using OptiRetailChain, retailer will be able to make optimal pricing decisions for individual stores, instead of across the chain, eliminating costly and unnecessary markdowns/markups.
- Using OptiRetailChain, retailers are empowered to take action based upon scientific optimization methods.
- ESL system guarantees pricing accuracy and promotional information delivery and it will provide a higher trust level to the consumer.
Per-Store Price Optimization module provided together with Electronic Shelf Label (ESL) solution.
- The object of OptiRetailChain is to achieve maximum increase of a preferred merchandising figure of merit like revenue, profit, etc. in retail chain environment by target advertising of selected number of store items.
- OptiRetailChain installs in-store smart displays (connected through Internet/Intranet) in retail chain branches.
- OptiRetailChain obtains from the supermarket computer detailed real-time data for each sale made, and detailed revenue and cost information on every product in the store.
- From our server, OptiRetailChain obtains real-time information regarding time and length of advertising message for each product in the store.
- Real-time optimization is done according to sales data and supplier-defined advertising profile.
- By appropriately combining all the latest statistical data available, OptiRetailChain’s proprietary Advertising Optimization System calculates the best time and in-store location of the message schedule, hence closing more sales and increasing returns.
- Utilizing machine-learning capabilities, actual video-clip playlist is dynamically updated for every in-store display and responds to daily sale fluctuations effected by all display locations.
Turnkey Solution
OptiRetailChain In-Store Advertising Optimization Solution is a remotely controlled decision-support system (US patent pending) for maximizing in-store net profits by optimizing advertising clip schedules.
Makor provides its OptiRetailChain as a COMPLETE TURNKEY SOLUTION including:
- OptiRetailChain's unique Promotion Optimization software.
- A complete hardware and software solution including displays.
- Full installation, on-site full-care maintenance.
- System ready to work in wide range of databases and computing environments.
- Advertising effectiveness evaluation (which is performed for all interested parties: retailer, advertiser, supplier).
- Continual testing and quality assurance process.
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