Product Repricing & Analysis

Authors

Jacob Peddicord, University of Nebraska - LincolnFollow
Achintya Handa, University of Nebraska - LincolnFollow

Date of this Version

5-2021

Document Type

Thesis

Citation

Peddicord, J. Handa, A. 2021. Product Repricing & Analysis. Undergraduate Honors Thesis. University of Nebraska-Lincoln.

Comments

Copyright Jacob Peddicord and Achintya Handa 2021.

Abstract

Speedway has a catalog with over 200,000 product variants in which costs and demand are constantly changing for a variety of reasons. Their current re-pricing is based on manual adjustments from a few team members. These team members primarily work on adjusting prices based on cost changes from suppliers.

Speedway wants to modernize its re-pricing system by increasing the frequency of price updates beyond what is possible by hand. This will allow it to compete with larger e-commerce companies like Amazon and Walmart, which update their prices daily.

It took multiple interactions to get to our current solution as we explored what was possible in the realm of machine learning given Speedway’s constraints. The solution we landed on leveraged triggers, optimizers, reports, and a UI. We will explain each part individually.