BOSTON (May 21, 2020) ToolsGroup, a global leader in supply chain planning software, today announced the launch of its AI promotions 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 AI 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
