• December 3, 2020
Food Companies Using RPA to Make Pricing Decisions

RPA continues to find new applications in new verticals. A recent article in Retail TouchPoints points to the food industry as a case in point. Penned by consultants from Point B, the piece notes that, while e-commerce, convenience formats and small brands have changed the space significantly, overall food consumption has not increased relative to population growth. So, competition is predictably intense as consumers chase bargains and low prices and demand quality simultaneously.

According to the report, because strategic pricing is so important for food companies, mangers are spending significant time handling and managing data that enable informed decisions on pricing. RPA enables the automated processing of all complex data that needs to be accounted for when pricing food products in today’s environment: competitors’ prices, ingredients, portion size, brand activity and more.

“RPA-driven pricing intelligence can give food companies a real-time view into their marketplace,” the authors said. “RPA tools offer a dynamic and potentially customizable platform to solve critical use cases for food sales, product and marketing leaders.”