Best Buy selects DemandTec

SAN CARLOS, Calif. Best Buy has purchase DemandTec Markdown, a service from DemandTec Inc., to help manage its supply, DemandTec announced this week.

According to DemandTec, Best Buy will use its Markdown service to manage price, profit, and inventory levels for items such as seasonal merchandise and discontinued product lines. Best Buy will use the technology as it works to optimize both the timing and depth of markdown pricing in order to meet its merchandising objectives while providing improved shopping experiences for its customers.

"This agreement demonstrates the commitment Best Buy and DemandTec share to drive superior value for the consumer as well as positive business results," said Dan Fishback, ceo of DemandTec.