Blue Ridge, 280 Interstate North Circle SE in the Cumberland area, announced the acquisition of price optimization and analytics company Prolific Virtue.
The acquisition adds price optimization to its suite of Blue Ridge Supply Chain Planning solutions.
“Price shapes demand and demand shapes price,” said Jim Byrnes, Blue Ridge CEO. “Our Supply Chain Planning customers have realized tremendous cost savings, increased accuracy and extra working capital because of our unique approach of analyzing demand at the invoice detail level. Price optimization leverages that same data set and dynamically applies science to drive incremental revenue which drops right to the bottom line.”
Prolific Virtue’s price optimization technology provides Blue Ridge customers with price sensitivity analysis, competitive analysis, pricing simulations and price recommendations to achieve a company’s strategic financial goals. Blue Ridge’s supply chain planning technology helps customers increase forecast accuracy, improve service levels and assure product availability to customers without creating a costly inventory surplus.
“Retailers can’t survive without price optimization, and now distributors are following suit,” said Cliff Isaacson, Blue Ridge executive vice president of Product Strategy. “Machine learning technology has improved price recommendations and made it easy to forecast the financial impact of price changes accurately. Willingness to pay and predicting how price sensitivity will influence demand by product and by customer can be determined more quickly and accurately.”
For more information, visit www. blueridgeglobal.com.