PriceSmart Inc., the largest operator of membership warehouse clubs in Central America, the Caribbean, and Colombia, announced an addition to its use of solutions provided by RELEX, a provider of unified supply chain and retail planning solutions.
In September,PriceSmart began implementing of RELEX for advanced forecasting, replenishment, and promotion planning across its extensive network of clubs. Subsequently, the company sought to enhance its pricing and promotion strategies and opted for RELEX‘s newly unveiled capability.
The transition from a self-developed process to the RELEX unified pricing and promotion planning platform represents a significant stride in automating a once time-consuming task for PriceSmart. Utilizing RELEX, PriceSmart will enhance the management of pricing fluctuations based on currency changes in the countries where they operate. This move underscores PriceSmart’s forward-thinking approach to retail management, elevating accuracy, consistency, visibility, and control over pricing strategies.
David Price, Chief Transformation Officer at PriceSmart, emphasized the excitement about integrating RELEX technology for unified forecasting, replenishment, pricing, and promotion planning. This step signifies a commitment to enhancing back-office productivity, providing real-time data integration, improved visibility, and control over pricing strategies. The goal is to achieve seamless alignment in pricing and promotional activities, contributing to the mission of enhancing member value and delivering a curated, high-quality experience in each region of operation.
Keith Adams, Senior Vice President of North America at RELEX, highlighted the critical role of pricing and promotion alignment in today’s dynamic retail environment. The collaboration with PriceSmart showcases how RELEX technology transforms retail operations by offering a unified approach to pricing and promotion planning. This advancement is pivotal for helping PriceSmart manage the entire pricing lifecycle more effectively, from initial pricing to promotions. RELEX is proud to support PriceSmart in this journey toward merchandising excellence, enhancing efficiency, and elevating the customer experience.
About RELEX Solutions
RELEX Solutions provides a unified supply chain and retail planning platform that aligns and optimizes demand, merchandising, supply chain, operations, and production planning across the end-to-end value chain. We help retailers and consumer goods companies like ADUSA, AutoZone, Coles, Dollar Tree and Family Dollar, M&S Food, PetSmart, and The Home Depot drive profitable growth across all sales and distribution channels, leading to higher product availability, increased sales, and improved sustainability. Learn more at: https://www.relexsolutions.com/customers/.
About PriceSmart
PriceSmart, headquartered in San Diego, owns and operates U.S.-style membership shopping warehouse clubs in Latin America and the Caribbean, selling high-quality merchandise and services at low prices to PriceSmart Members. PriceSmart operates 53 warehouse clubs in 13 countries (10 in Colombia; 8 in Costa Rica; 7 in Panama; 6 in Guatemala; 5 in the Dominican Republic; 4 in Trinidad; 3 in Honduras and El Salvador, 2 in Nicaragua and Jamaica; and one each in Aruba, Barbados and the United States Virgin Islands). In addition, the Company plans to open a warehouse club in Santa Ana, El Salvador, in February 2024. Once this new club is open, the Company will operate 54 warehouse clubs. Go to www.pricesmart.com for more information.