Automated Pricing Orchestration for a Leading Retail Chain
Challenge:
A major retail chain faced critical issues in its pricing operations:
- All price changes were done manually, resulting in delays, human errors, and inefficiencies.
- The system lacked real-time responsiveness to market trends, demand shifts, and promotions.
- The retailer needed a scalable, automated pricing engine capable of processing complex pricing rules across multiple product categories in real time.
Solution:
OKRUTI engineered an Automated Pricing Orchestration Engine powered by real-time computation and event-driven architecture, enabling dynamic, accurate, and instant price adjustments.
Key solution highlights:
– Microservices Architecture: Built using Java & Spring Boot for high scalability, modularity, and robust performance.
– Real-Time Event Processing: Integrated Apache Kafka for real-time event-driven updates across all retail outlets.
– Rule-Based Automation: Developed a logic-driven rules engine for dynamic price adjustments aligned with business policies.
– Redis Caching: Implemented Redis for high-speed caching and instant price data retrieval, improving computation speed.
– Fully Automated Workflow: Eliminated manual intervention by automating the entire pricing process end-to-end.
The new system ensured seamless execution in price updates without any manual intervention and in turn better accuracy of the prices.
Results achieved:
✔ Automated Price Adjustments: Real-time dynamic pricing based on market conditions and demand.
✔ Improved Accuracy & Transparency: Reduced human errors and ensured consistent pricing across channels..
✔ Operational Efficiency: Significant reduction in manual tasks, freeing teams to focus on strategy.
✔ High Scalability: Seamlessly manages dynamic pricing for thousands of SKUs across locations.
With the real-time computation and event-driven processing, OKRUTI ‘s solution enabled the retail chain to realize greater efficiency in pricing, faster response to the market, and optimised revenue strategies.
Feedback from a customer:
“OKRUTI’s pricing engine has brought efficiency and accuracy into our operations, allowing us to optimize prices live and respond faster to market changes.”