Atlanta, Aug. 21, 2020 — Blue Ridge, a leader in supply chain planning and pricing solutions, announced today that Price Optimization, added to the Blue Ridge Supply Chain Planning suite in 2020, received a Bronze Stevie® from the American Business Awards® for Best New Supply Chain Management solution.
Blue Ridge Price Optimization solutions leverage machine learning to quickly identify opportunities and simulate pricing strategies for peak margin, profits, revenues and sales. The pricing suite supports end-to-end pricing transformations, a strategy estimated to drive distributor earnings expansion by up to 50 percent – far beyond traditional margin-expansion methods, according to a McKinsey & Company report.
“The addition of Price Optimization to the Blue Ridge Supply Chain Planning solution suite has provided a distinct competitive advantage while also energizing our entire customer base,” said Cliff Isaacson, Blue Ridge Executive Vice President of Product Strategy. “Price optimization is inherently complementary to supply chain planning since it has such a direct impact on customer demand forecasts. We welcome the validation that comes with receiving an American Business Award.”
The 2020 American Business Awards® were determined by the average scores of more than 230 professionals worldwide in the three-month judging process. The Stevie® Awards are the world’s premier business awards, created in 2002 to honor and generate public recognition of the achievements and positive contributions of organizations and working professionals worldwide.
Blue Ridge’s Price Optimization solution quickly identifies both overpriced and underpriced products while providing accurate recommendations for aligning prices across products, channels and price points including wholesale, list and customer segment. The solution provides daily alerts on competitive price changes to react quickly in price-transparent ecommerce channels, as well as make recommendations on reducing excess inventory to create significant value and profit margin improvement.