Blue Ridge Global Acquires Prolific Virtue, Adding Price Optimization to its Supply Chain Planning Platform
ATLANTA, Nov. 4, 2019 – Blue Ridge announced today the acquisition of price optimization and analytics company Prolific Virtue to add price optimization to its suite of Blue Ridge Supply Chain Planning solutions.
“Price shapes demand and demand shapes price,” said Jim Byrnes, Blue Ridge Chief Executive Officer. “Our Supply Chain Planning customers have realized tremendous cost savings, increased accuracy and extra working capital because of our unique approach of analyzing demand at the invoice detail level. Price Optimization leverages that same data set and dynamically applies science to drive incremental revenue which drops right to the bottom line.”
Prolific Virtue’s price optimization technology provides Blue Ridge customers with price sensitivity analysis, competitive analysis, pricing simulations, and price recommendations to achieve a company’s strategic financial goals. Blue Ridge’s supply chain planning technology helps customers increase forecast accuracy, improve service levels, and assure product availability to customers without creating a costly inventory surplus.
“Retailers can’t survive without price optimization, and now distributors are following suit,” said Cliff Isaacson, Blue Ridge Executive Vice President of Product Strategy. “Machine learning technology has improved price recommendations and made it easy to forecast the financial impact of price changes accurately. Willingness to pay and predicting how price sensitivity will influence demand by product and by customer can be determined more quickly and accurately.”
In 2019, Blue Ridge grew its already impressive roster of distribution customers, adding several marquee brands to the Company’s portfolio of cloud supply chain solutions, including:
AAMP Global, Ammex Inc., Atea AS, Bob Mills Furniture, Boxercraft, Chambers & Chambers, Epic Wine & Spirits, Hillsdale Furniture, HVAC Distributors, Max Finkelstein, Packaging Wholesalers, Prime Line, TriEnda/Penda Corporation and Witmer Public Safety Group.