Retail Express rules engine will allow the retailer to efficiently organise and manage retail prices which support the category and Merchandizing strategy. Once adopted the rules engine will monitor and maintain the pricing strategy at all levels of the format/banner automatically taking care of cost and competitor price changes, with or without supervisor overview, supplying revised prices within the rules and constraints defined to the POS infrastructure.
The control of prices can be at store level by time by day but normally by store or store group by day or week. Despite the very granular level of price execution most pricing rules will be defined either at format banner or store group level with small numbers of overriding rules per category at store level. Whilst the tool provides total pricing flexibility the tool set makes it easy to set up and mange the rules and prices with less manpower than conventional methods allowing pricing and category managers to focus on strategy and tactics rather than creating individual prices.
Within the rules it is appropriate to set constraints against the strategies in order to maintain the differentials with competitors, margins, etc. In the price optimization module constraints are automatically resolved, but within auto pricing these are alerted through a notification process to the user. The user will have full control of any and all pricing and the ability through the "Pricing Workbench" to make individual price changes and investigate and examine performance, competitor prices, cost changes and view prices across all areas available under the user's security clearance.
AMP2 modules are designed to use the customer's own item and location hierarchy thus allowing prices to be set at a very granular level with very little effort. The solution provides the means for pre-defined pricing rules to be automatically applied and the option to use more scientific methods based with price elasticity and demand models to forecast demand and provide simulation of the future performance of each category providing full category P&L's with line item sales, units, profits, margins and variances from the predicted performance of the current prices pre-change.
Providing visibility and tools to manage the day to day pricing environment, inspect costs, margins, competitor prices, future retail prices etc. and make adjustments as appropriate.
Enables you to optimize the overall profit, margin or contribution of a portfolio of products whilst maintaining price position.
