Revenue management is about creating, capturing and retaining sustainable value for consumers, shoppers, retailers and manufacturers. Typically, its scope includes all trade facing investment across the marketing mix including brands, products, packs, channels, consumption and shopping occasions; investment required to execute such as trading terms, promotional displays, sales force; and pricing architecture.
Revenue management enables incremental volume, revenue and margin growth, range optimisation, and improved promotional planning, among other things, through the systemic application of analytics.
Two-thirds of retailers see predicting demand as one of the greatest challenges facing retail supply chains – an area of opportunity in which CG companies can greatly assist with the necessary visibility.
What is Revenue Management?
Revenue Management is one of the best tools organizations can use to maximize real value. Organizations with good revenue management discipline help drive better visibility, control, decision-making and collaboration across the entire-functional teams. Those who can respond faster to evolving market conditions have a massive advantage over those who are crawling to make even the simplest commercial decisions.
Utilize the five value drivers of the Revenue Management Delivery Framework to diagnose, identify, and unlock the right revenue opportunities for sustainable top-line and profitable growth.
TRADE PROMOTION MANAGEMENT
Trade Promotion Management (TPM) is defined as managing the entire life-cycle of trade promotions, and includes budgeting, planning, payments, processing of customer short-pays, deduction resolution, and post-promotion analysis. CPG organizations spend millions each year on promotions that are applied with the aim of increasing their market share and revenue. However, it is often unclear how many of these promotions have been successful in terms of increasing revenue, profit and market share. Successful TPM is defined by being able to see the effectiveness of trade spend, track which promotions are producing the most of ROI and having the ability to counteract competitor’s activity and increase market share.
Exceedra by TELUS has applied AI and Machine Learning to the retail industry with exciting results. Our cloud-based Retail Execution solution equips consumer goods companies with state-of-the-art tools that validate store compliance, speed up time to insight, and create drastic efficiencies. We use proprietry Image Recognition (IR) software to transform pictures of store shelves into actionable data in seconds This speed, accelerated by Microsoft Azure, allows companies to make better, faster decisions that increase sales.
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