Leading B2B recommerce platform, B-Stock, recognized for Predictive Price Modeling Tool, providing better visibility into resale pricing.
SAN MATEO, Calif., Dec. 11, 2024 /PRNewswire-PRWeb/ -- B-Stock, the leading B2B recommerce platform and system of record for all resale, has been named a winner of this year's Top Software & Tech award by Supply & Demand Chain Executive for its Predictive Price Modeling Tool.
The Predictive Price Modeling Tool is a first-to-market data offering that provides B-Stock's customers - which include today's top retailers and brands - pricing estimates for inventory they want to sell in the B2B resale market. The tool leverages AI and machine learning to scan hundreds of thousands of closed listings across the bstock.com recommerce platform and then analyze them across 100 variables including product category, item condition, brand, lot size, season, SKU depth, and sales channel. The result is a data set that showcases what variables drove pricing higher or lower.
Armed with this data, retailers, OEMs, and brands have better visibility into the anticipated pricing for their inventory and can make strategic decisions around how to:
- Optimize resale strategies - including when and how to sell the inventory - to drive the best pricing possible
- Enhance inventory management to optimize distribution centers
- Support financial planning and forecasting
- Accurately forecast future pricing (>90%) for B2B channels
"Across our customer portfolio of retailers, brands, and OEMs a big concern is how to get the best pricing for their returned and excess inventory on the B2B resale market. Through this predictive tool we are able to offer our customers both confidence and consistency in pricing by helping them figure out how to list inventory, when to list it, and what it will sell for," said Marcus Shen, B-Stock's CEO. "B-Stock holds 15 years worth of data when it comes to B2B resale pricing, across dozens of categories and hundreds of subcategories; this provides us with a unique perspective and a robust, unrivaled dataset on the buying and selling trends across the B2B resale market. A big congratulations to the B-Stock team on bringing this tool to market and for winning this industry award!"
B-Stock's Predictive Price Modeling Tool is the only tool like this on the market; one that uses AI, ML, and historical data to offer this type of actionable data specific to what kind of pricing can be achieved.
"Automation, sustainability, smart technology, supply chain optimization and risk management were the major themes of this year's new software and technology solutions. These new products and enhancements are upping the ante in modernizing how product moves through the chain, and I appreciate everything this year's winners do to ensure the safety, security and sustainability of our supply chains," says Marina Mayer, Editor-in-Chief of Food Logistics and Supply & Demand Chain Executive.
This award featured two main categories (Small Business <$50 million and Enterprise >$49 million) and then five sub-categories within each main category: Procurement/ERP Software, Robotics, and Supply Chain Visibility Solutions, WMS/TMS Software and Warehouse Automation. B-Stock was recognized under the Supply Chain Visibility Solutions category.
The full list of 2024 Top Software & Tech Winners can be found here.
B-Stock is the world's largest B2B recommerce platform and system of record for all resale. We connect sellers and buyers of returned, trade-in, and overstock inventory through a suite of online resale channels. Our customers range from the world's largest brands and retailers that want best-in-class inventory resale management to entrepreneurs looking to source valuable merchandise for their resale businesses.
With hundreds of thousands transactions completed annually, we believe technology and access drive a healthy B2B resale ecosystem. B-Stock gives buyers a simple and direct way to buy valuable products directly from retailers and offers sellers a technology-driven replacement for traditional resale methods, while boosting operational efficiency, recovery rates, and cycle time.
Media Contact
David Jones, B-Stock, 1 518-390-5631, [email protected], https://bstock.com/
Melissa Gieringer, B-Stock, 1 310-686-7773, [email protected], https://bstock.com/
SOURCE B-Stock
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