KSS Delivers RackPrice
Tech firm offers wholesale fuels pricing system
Published in CSP Daily News
FLORHAM PARK, N.J. -- KSS, a major provider of pricing solutions to the petroleum, convenience, chain drug and grocery sectors, has announced the availability of RackPrice, the most advanced pricing system available for supporting the needs of the wholesale fuels sector.
According to the company, RackPrice helps fuels wholesalers address three key aspects of their pricing processes: streamlining the pricing process to exert greater control over price volatility and improve consistency; delivering unique insight into competitor pricing strategy, including [image-nocss] predicting competitor price moves; and using price sensitivity modeling to segment customers, terminals and channels and applying optimization to meet volume plans at higher margin rates.
RackPrice has been developed in a modular fashion. The following modules will be available for deployment on the RackPrice Workbench individually or as an integrated suite:
RPdata (automated import, validation, transforming and presentation of external data ready for use within pricing). RPpredict (competitive tendency modeling and price prediction). RPauto (pricing rule automation to eliminate errors, improve consistency and provide audit trail). RPelasticity (advanced modeling and tracking of price sensitivity and demand segmentation). RPopt (improved control of volumes and increased margins through price optimization). RPreport (preconfigured, updated and auto-distributed reports on key pricing/sales indicators). RPolap (slice/dice and ad-hoc querying of pricing data along consistent dimensions). RPsimulate (probabilistic compression of pricing history to identify competitive tendency and simulate competitor response under different market conditions).
Additional modules under development and available later in 2005 include:
RPdiscount-manager (improved control, allocation and management of rack allowances and rack allowance strategies).
Developed with leading operators in the United States, RackPrice is a multi-tier J2EE web application delivering enterprise ready integration with a range of client technologies and database platforms and compatibility with hosted or in-house deployments. It delivers KSS's demand modeling and price optimization technology in a platform-independent, open-standards environment enabling quick modular integration of its pricing technology into the customer's workflow and ensuring rapid ROI, the Florham Park, N.J.-based company said.