Blue Yonder Wins Retail Technology Award Europe for Customer Success
JDA-owned Blue Yonder wins award for AI results at fashion retailer bonprix; Honored as “Best Enterprise Solution”
Blue Yonder, a JDA company, has been awarded a Retail Technology Award Europe (reta) by the EHI Retail Institute for its work with international fashion provider and Otto Group subsidiary bonprix. The award for “Best Enterprise Solution” was presented yesterday at the EuroCIS trade fair in Düsseldorf.
Active in 30 countries worldwide, bonprix uses Blue Yonder Price Optimization solution to optimize product prices with the help of artificial intelligence (AI). With AI, bonprix can make automated pricing decisions for each collection and each individual product both online and in-store, which allows employees to address customers more specifically and positively influence return rate.
“The use of AI has brought us many advantages. We have managed to digitalize and automate key processes,” said Florian Rüffer, senior project manager dynamic pricing, bonprix. “We are very proud that we have received the reta award for this.”
Automation for More Efficient Processes
Thanks to automated pricing, bonprix can react faster and more efficiently to market-specific developments.
Blue Yonder Price Optimization leverages external information such as weather data, holidays or school holidays, as well as internal data such as sales history, customer behavior, current CRM data and more. Country-specific factors such as price elasticity, cost and stock levels also play a role. In addition, the entire life cycle of each item is considered holistically to avoid high write-downs toward the end of cycles.
With this information, the AI solution can automatically determine the current best price for a product. Within one year, bonprix was able to roll out the solution in six of its most important markets.
“We are delighted to have won a ‘Retail Technology Award’ for our work with bonprix. This award represents how much retailers benefit from technology and artificial intelligence,” said Uwe Weiss, chief executive officer, Blue Yonder. “With our software, companies can not only increase revenue, improve margins and lower operating costs, but they can also improve their bottom line. The schedulers are noticeably relieved in their daily work.”
- Learn more about JDA and Blue Yonder Price Optimization technology
- Check out the case study on bonprix’s success
- Learn more about JDA’s Blue Yonder solutions
- Check out the 7 steps to an Autonomous Supply Chain
- Check out the reta award winners
About Blue Yonder
Blue Yonder, a JDA company, is a leading provider of artificial intelligence (AI) and machine learning (ML) solutions that enable retailers, consumer products and other companies to intelligently transform their operations and make more profitable, automated business decisions that deliver higher profits and optimized customer experiences.
With AI/ML learnings embedded into their core supply chain and merchandising processes, companies can respond quicker to dynamic market conditions and customer preferences, resulting in increased revenues and margins.
Developed by one of the largest teams of PhD-level data scientists dedicated to retail and the supply chain, Blue Yonder’s AI/ML solutions deliver 600 million intelligent, automated decisions a day.
Blue Yonder was founded in 2008 in Karlsruhe, Germany, by former CERN scientist Professor Michael Feindt and acquired by JDA Software in 2018. The company has received numerous awards, including the Experton Big Data Leader Award 2016, the BT Retail Week Technology Award, the IGD Award 2017 for Supply Chain Innovation.
Blue Yonder provides its solutions through Microsoft Azure and was named one of Microsoft’s retail partners of the year in 2018.
About JDA Software, Inc.
JDA Software is the proven leader in artificial intelligence and machine learning (AI/ML)-driven supply chain and retail solutions for 4,000 of the world’s leading retail, manufacturing and logistics companies. JDA enables an Autonomous Supply ChainTM by connecting its cognitive SaaS solutions from end-to-end – across planning, execution and delivery – with a broad partner ecosystem, empowering customers to better predict and shape demand, transform their product delivery and deliver outstanding customer experiences. JDA’s world-class client brands include 75 of the top 100 retailers, 77 of the top 100 consumer goods companies, and 8 of the top 10 global 3PLs. Running JDA, you can plan to deliver. www.jda.com
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