Revenue Management Solutions (RMS), the industry recognized leader in providing item level price recommendations to chain restaurants in the food service industry, is pleased to announce that U.S. Patent No. 7,702,518 has been awarded to inventors Tom Kelly and Sebastian Fernandez.
This patent provides a unique method of grouping similar retail units into price tiers. These tiers, when optimally priced, can generate higher profits for individual locations. In combination with RMS’s first patent on determining unit Price Sensitivities, clients now have two exclusive technologies which result in higher product and unit gross profits without loss of customer traffic.
RMS’ strategically formulated pricing recommendations have consistently yielded clients a net improvement in gross profit equal of more than one percent.
“RMS has been utilizing these methodologies for quite some time to provide our clients with well-founded insights,” said Tom Kelly, Chairman and CEO of RMS. “Being able to group stores together in similar economic markets allows us to provide our clients with the best strategic recommendations for the most effective results.”
RMS is an international consulting firm specializing in quantitative modeling and statistical analysis of data and is the global provider of strategic pricing advice in the foodservice industry. Since 1994, RMS has been successfully providing revenue management recommendations to clients to increase gross profit and enhance brand value. RMS currently assists brands in 34 countries around the world and its patented process of revenue management is used in over 50,000 locations globally.