Lifecycle Price Management Software

Managing the lifecycle pricing of products is a critical part of a retailer’s operation. Properly managed and executed pricing improves competitive advantage and operational performance while reducing costs. Utilizing the right price management software is critical, as managing complete lifecycle pricing can be a complex process. Failing to make and execute the best pricing decisions can put vendor relationships, profits and customer loyalty at risk.

Lifecycle price management software streamlines the price planning and execution processes and helps retailers to better respond to competitive price changes by quickly identifying changes and reacting to them appropriately. These solutions also allow retailers to keep prices in compliance and improve the way they respond to vendor cost changes. A lack of optimal decision-making ability and streamlined processes can lead to poor pricing choices, resulting in costly mistakes and time-consuming fixes.

Lifecycle Price Management Software

A best-in-class solution enables retailers to best define the pricing strategy, set and adhere to rules and manage the lifecycle of those prices that best meet their corporate goals. Lifecycle price management solutions should allow them to easily and accurately manage pricing rules including vendors, categories, individual products, channels and location-based rules. Knowing when to use specific rules and the ability to execute them consistently is important.

Equally as important is the foundation of a retailer’s lifecycle price management solution. An integrated platform with an intuitive workflow and interface allows users to quickly get up to speed and improve productivity. Best-of-breed lifecycle pricing solutions should work seamlessly with other operational solutions including markdown planning and promotion management for visibility, collaboration and optimal performance across the enterprise.

JustEnough Lifecycle Price Management Solution

The JustEnough Price Management solution allows retailers full control over the lifecycle pricing of a product or category. It provides a centralized platform to manage all aspects of this critical part of a retail operation including:

  • Setting the initial pricing strategy
  • Managing promotional and markdown prices
  • Applying pricing adjustments
  • Enforcing rules
  • Enabling audit trails

JustEnough Price Management allows users to create a price plan at any level of the product hierarchy with a complete view of price elasticity, current inventory and product rate of sale. A single, intuitive and flexible platform, JustEnough Price Management allows users to plan prices at a product level while reviewing the impact at an aggregate level. This view provides what-if scenarios, allowing comparisons to be made on unit volume, revenue and margin.

The JustEnough Price Management solution is part of a full suite of completely integrated retail planning applications, each designed to work seamlessly with the other modules or interface with 3rd party software applications.

Benefits of JustEnough Price Management

  • Manage all aspects of price management in a centralized platform
  • Streamline pricing process and lifecycle management for all selling channels
  • Quickly respond to changes in competitive pricing
  • Ensure prices comply with legal and corporate rules

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