ToolsGroup Launches AI-Powered Promotions Planning
Industry: Computer Software/Services
Promo Planning software reduces risk and helps improve performance of CPG and retail promotions
Boston, MA (PRUnderground) May 21st, 2020
ToolsGroup, a global leader in supply chain planning software, today announced the launch of its promotion planning software, Promo Planning, which simplifies and streamlines promotion optimization for retail and consumer products (CPG) companies.
Trade promotion management and optimization costs consumer goods companies globally more than $500 billion each year–that makes it the second largest budget line item for most CPG companies.1 Compounding the risk is the high level of complexity in planning promotions effectively. There is often a disconnect between marketing and operations. The siloed planning approaches can lead to excessive stock or unmet service levels and disappointed customers.
Promo Planning, powered by ToolsGroup’s Service Optimizer 99+ (SO99+) supply chain planning software, leverages machine learning to automate the complications of promotion planning. It allows marketing professionals to plan and optimize campaigns with a level of detail that is relevant to their needs, all while staying perfectly synchronized with their supply chain colleagues.
ToolsGroup’s Web-based promotions planning software was specifically designed to organize promotional events in the demand forecasting process to:
Bridge the gap between marketing and operations which often results in lost sales or obsolescence
Improve forecasting accuracy to anticipate promotional uplift and subsequently raise service levels
Provide real-time scoring of promotional uplift with machine learning for better future promotions
For Nordic food supplier Haugen-Gruppen AS, ensuring the whole company can collaborate in the promotions planning process is critical to service excellence. “Forecasting promotions is one challenge, but making sure the whole organization is aligned to execute and prepared for the impact of those promotions is a whole different issue,” said Stian Holm Lassegaard, Supply Chain Director at Haugen-Gruppen AS. “With Promo Planning, we were able to instantly connect marketing changes with operational plans. Thus ensuring we had the right inventory in the right place at the right time to satisfy our customers’ needs.“
For more information, read our blog for tips on how to improve your promotions planning, or request a demo of ToolsGroup supply chain planning software.
ToolsGroup is how organizations improve product availability while right-sizing inventory, no matter how complex their supply chain is or how much demand changes. In a world that rarely follows the rules, our retail and supply chain planning suite optimizes and automates supply chains from production to purchase, enabling manufacturers, distributors and retailers to be ready for anything. That’s why global leaders like Absolut, BP and Harley-Davidson rely on us year after year. For more information, follow ToolsGroup on LinkedIn, Twitter, YouTube, or visit www.toolsgroup.com.