New Solution ‘Cifra Project: Repricing’ Models Retail Prices for Minutes

New solution ‘Cifra Project: Repricing’ calculates the variants of the repricing of goods in retail chain enabling the expert to quickly make justified decisions on price change for tens of thousand goods items in hundreds of stores. At present the solution undergoes testing in one of the largest Russian retail chains. The main goal of the solution is to react to purchasers’ demand as fast as possible.

The system helps control the stock level allowing a timely sale of non-sellers or withholding the goods which do not have a sufficient quantity in the chain. As a whole, the economic effect from implementation of the digital repricing model consists in accelerating the goods turnover, minimizing the balance of a seasonal collection, sales growth, optimal use of storage areas and reducing the labor cost.

The product ‘Cifra Project: Repricing’ consists of the following components:
Data Storage and Sata Uploading System is Microsoft SQL Server database including both initial data for analysis of goods balance, prices, discounts and other information used by the calculation engine and storage of calculation parameters and results.
Calculation Engine is used for calculating price variants and results according to the rules set by the user. It contains both blocks that cannot be changed by the user and high-speed block for in-database calculations in which repricing algorithms that can be changed by the user are set. In-database calculations use the latest capabilities of MS SQL Server and Analysis Services Tabular Model column-store databases. It is also possible to use additional calculation mechanisms, for example, for demand forecasting. At present one calculation cycle for hundreds of stores and thousands of stock items is 10-15 minutes.
Automated workstation for the analyst incorporating the following capabilities: setup of calculation parameters in the startup window, selection of assortment and stores for inclusion in the calculation, and setting of limits for economic values.
The Embedded Data Analysis System allows viewing source data and disclose the progress and results of calculations made by the computer.

According to Kirill Fridlyand, Partner and Expert for Logisitics in Cifra Project Company: "The automation allowed removing the limits and discovering the possibilities for further improvement of stock repricing logic and complicating the control of calculation parameters. During development of the application beside the speed of operation one other important condition is fulfilled which is to make a high speed calculation model open, that is to allow expert specialists to independently change the calculation formulas."

Cifra Project (http://cifraproject.com/en) develops intelligent applications for decision making by humans and machines. A team of experienced specialists models, develops and implements for enterprises the high-performance expert systems with elements of Artificial Intelligence. Solutions of Cifra Project are used to plan and optimize stock and logistics processes, to analyze and plan marketing activities, to plan and optimize production. Additional Information: for all issues related to Cifra Project activities contact Alina Zennikova by e-mail address azennikova@cifraproject.com.

Company: Cifra Project
Head: Viacheslav Nefedov, Private Entrepreneur
Address: 55-3 Moskovskoye shosse, apt. 134, Dolgoprudnyi, Moscow region, Russia, 141707
Presscontact: ALina Zennikova
Phone: +79221210259

This release was published on openPR.