Logility has rolled out the latest release of its Logility Price and Promotion solution, which uses machine learning to predict the impact of promotional activity on inventory. By helping planners quickly understand changes in demand, retailers can compare multiple price and promotion scenarios to allow for better replenishment and inventory allocation for meeting variances in expected sales.
Logility Price and Promotion complements traditional demand planning capabilities by managing pricing scenarios and generating a price-adjusted forecast designed to align inventory decisions with marketing campaigns. Planners can better understand the impact of pricing changes across several key dimensions, including product category, SKU, region, customer or warehouse location.
This latest version of the solution is designed to help planners quickly isolate price as the key variable in a multivariate scenario and create a promoted forecast. The use of machine learning and price elasticity models helps identify the expected lift in demand, which assists retailers with identifying the ideal price to maximize revenue potential while staying within the constraints of supply.