TCS Optumera™ Price Optimization

ABSTRACT

Pricing is one of the quickest ways by which you can improve customer perception, brand loyalty, and your top and bottom line. But price optimization has become a moving target due to increasing price sensitivity, ever-evolving demand patterns, and the proliferation of stock keeping units (SKUs) and channels. This is compounded by macroeconomic factors such as inflation, supply chain costs, and unforeseen disruptions. Setting competitive prices for millions of SKUs using manual methods is difficult and unsustainable.

When the stakes are so high, what you need is an AI-powered solution that allows pricing managers to strategize every aspect of pricing throughout the product life cycle and make customer-centric yet profitable decisions while responding swiftly to market dynamics.

OVERVIEW

TCS Optumera Unified Price, Promotion, and Markdown Optimization helps retailers take complete control of pricing throughout the product lifecycle, from setting optimal base prices to driving smart promotions and making markdown decisions. It infuses the power of AI into the art of merchandising, helping pricing managers and analysts make integrated decisions and respond in near real-time based on competitor prices, cost changes, demand patterns, and inventory position. They can easily experiment with different strategies such as dynamic pricing, competitive pricing, channel-based pricing and promotions, and store-level markdowns, and make decisions with confidence.

OUR SOLUTION

TCS Optumera Unified Pricing, Promotion, and Markdown Optimization takes a multi-dimensional approach to price optimization by considering about 1,000+ factors that impact business KPIs. Equipped with transparent and intelligent price recommendations, you can improve price perception, increase full-price sell-through, drive loyalty, and increase sales and margins.

TCS Optumera is powered by robust ML models fine-tuned over 10 years by retail experts and data scientists. By learning and adapting to emerging business needs, it maximizes pricing outcomes without compromising on the value proposition of the product or the brand.

• Provides unified and localized price recommendations aligned to business dynamics
• Makes transparent price recommendations with insights into trade-offs
• Empowers pricing teams to simulate business scenarios with what-if analysis
• Enables autonomous and alert-driven pricing operations to manage by exceptions
• Enables a robust golden data set and higher performance to support intraday and near real-time price changes
• Provides simple workflows for effective collaboration across teams
• Comes with rich visualizations, configurable dashboards, and notifications to track and manage performance of categories

BENEFITS

• 3-5% increase in sales
• 5-7% increase in margin
• 4-6% faster inventory turnover
• 30% improvement in team productivity
• 7-10% higher demand forecast accuracy
• <15 mins to make pricing decisions