What prices for sales items yields the greatest profit (e.g., how to price items, sets of items, and multiple purchases of items for greatest profit)?
OPTIMAL PRICING applications enable users to determine the prices for products to meet customer demands and generate the maximum profit. Typical increases in revenue are 3% or more of the total value of the goods sold.
An implementation of the OPTIMAL PRICINGapplication is the pricing of products and sets of products with discount schedules to generate the maximum revenue.
OPTIMAL PRICING applications provide decision support for problems in most industries.
CONFIGURATIONS, MODELS, AND DATA
OPTIMAL PRICING applications include the following configurations:
- Pricing Management for single items considering demand and price points
- Pricing Management for product sets considering individual price points and set price points
- Pricing Management for quantity discounts
- Pricing Management with inventory constraints
The basic data modeIed includes the following:
- Items for sale
- Schedule for Item demand at price points
- Demand for sets of Items at price points
- Rules for compliance
For detailed information about industry applications and access to our Products website, please contact us.