Distributors with thousands of SKUs in their catalogs consistently face the daunting task of accurately setting prices for the products they sell to ensure they are appealing to customers while meeting the business’s financial goals for each item. Despite the significant amounts of data they generate through the buying and selling of products and services,…
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In today’s fiercely competitive market, distributors need cutting-edge solutions to enhance efficiency and maximize profits. Enter AI and machine learning—powerful tools that can revolutionize how you manage inventory and optimize pricing. Here’s how AI-driven inventory optimization can transform your business. Precision Stock Management AI-driven inventory optimization uses sophisticated algorithms to analyze vast data points such…
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Discounts and sales promotions always catch a buyer's eye and can help distributors attract interest for a new product, renew interest from former customers, or clear out inventory of a discontinued product. However, it's important they are used strategically. A discount or promotional offer launched without a strategic intent could not only fail to achieve…
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Historically, when it comes to pricing, striking the perfect balance between profitability and customer satisfaction is an art form that requires a deep understanding of market dynamics, consumer behavior, and financial strategies. AI technology can transform pricing for distributors from a subjective art to a precise science. Optimizing prices allows them to use their data…
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