RackPrice Overview

Wholesale and Commercial/Industrial Fuels Pricing

RackPrice is a highly user-configurable pricing framework, consisting of a broad range of functional capabilities designed to support the following B2B fuels pricing processes:

• Pricing and performance analytics
• Price setting – via manual entry, pricing rules, formulae and/or optimization
• Price execution

RackPrice has been developed with the knowledge and experience of a range of pricing processes in different countries such that it can be configured, without customization, to suit the specifics of a given local country or market. RackPrice supports the wholesale and commercial/industrial pricing processes by helping fuels marketers set the best possible price for every channel, segment, rack and customer by combining sophisticated analytics and demand modeling with a highly configurable rules-engine. RackPrice automatically generates price recommendations based on up-to-the-minute data and then prioritizes them according to your specific business rules. Wholesale prices will respect the current supply/inventory position as well as taking account of predicted competitor rack prices (where appropriate). Commercial prices will honor contract terms and meet antitrust regulations where necessary. This allows the pricing team to focus their valuable time on critical business decisions as opposed to data manipulation and administration.

RackPrice features:

• Pricing Workbench, with alerts, delivers up-to-the-minute KPI information to drive pricing decisions
• User-configurable pricing rules engine for rules-based, formula and/or optimized price generation
• Demand forecasting models to match inventory/supply position with demand, across all channels and customers
• Competitor tendency models to predict competitor rack prices
• Automatic, event-driven price generation; price modeling ("what-if" simulation) and price optimization
  Contracted customer profitability and price sensitivity analysis
• Management reporting and analysis to monitor progress against targets

RackPrice Solution Benefits

• Controlled, more responsible and consistent pricing process with all required data in one system
• Improve rack margins by up to 8% by optimizing prices across channels
• Predict competitor rack prices and automatically adjust own prices
• More effective matching of inventory, supply and demand - guarantee branded supply; reduced need for allocations or temporary discounting
• Reduce liftings volatility by up to 20%
• Set unbranded rack prices to maximize profit while protecting branded supply
• Rapidly determine the margin impact of temporary competitive allowances
• Continually monitor peformance against targets, exception alerts to highlight issues
• Improved contract management - reduce contract non-compliance by 70-90%; offer more sophisticated contract terms with no net increase in admin costs; increase contract revenue by 1-2%
• Improved pricing resource utilization (via automation)
  

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