River Logic and Synectics Group Team Up for Trade Promotion Optimisation
River Logic, a provider of integrated business planning (IBP) and advanced business modelling software, has partnered with the Synectics Group, a provider of trade promotion management (TPM) solutions, to deliver a closed loop trade promotion optimisation (TPO) solution that will help enterprises plan, execute, and evaluate promotions to increase the return on trade spending.
With TPO, consumer packaged goods (CPG) manufacturers can focus on improving the effectiveness and efficiency of trade dollars to drive greater return from their trade marketing plans. In addition, the solution allows users to compare events that maximise net income or profit. The ability to use differential analysis helps managers make balanced decisions that will meet corporate objectives.
“Integrating promotion planning with optimisation to help users initiate the right promotion from the outset to improve outcomes, while reducing efforts involved in the process, represents a critical unmet need in the marketplace,” said Dale Hagemeyer, research vice president, Gartner. “The benefits of continuously optimising trade campaigns to profit or minimum cost are particularly valuable in current economic times; companies of all sizes should be evaluating how to improve their trade promotion effectiveness.”
The solution will be built on River Logic’s advanced modelling application and will integrate seamlessly with Synectics Group’s account review application for closed loop trade promotion management. The tool – which will be built on Microsoft infrastructure – will enable users to manage real business constraints and to optimise the solution to various objective functions, including minimum cost, maximum revenue, and maximum volume at the click of a button.