Price Management Software

Price management software is an essential part of a retailer’s toolkit. When pricing is managed and executed properly it can improve competitive advantage, reduce costs and improve operational performance. However, managing prices can be a very complex and challenging part of a retail operation, therefore having the right price management software is critical. The inability to make and execute the best pricing decisions can negatively affect vendor relationships, profits and customer loyalty.

Price management software streamlines the pricing process and enables retailers to better respond to competitive price changes by quickly identifying changes and reacting to them appropriately. In addition, these solutions allow companies to improve the way they respond to vendor cost changes and keep prices in compliance. Without optimal decision-making ability and a streamlined process, companies risk poor pricing choices, leading to costly mistakes and time-consuming fixes.

Price Management Software

Retailers need price management software that enables them to best define the pricing strategy, set and adhere to rules and manage the lifecycle of those prices that best meet their operational goals.

Retailers need to seek out price management solutions that allow them to easily and accurately manage their pricing rules. With so many rules covering vendors, categories, individual products, locations and channels, retailers need to best understand which rules are the most important and which are less of a priority in the case of conflicting rules. Additionally, understanding when to use specific rules and the ability to execute them consistently across channels is integral.

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

JustEnough Price Management Solution

JustEnough Price Management solution allows retailers full control over the lifecycle pricing of a product or category. From setting the initial price, to price adjustments and markdowns, to end-of-life, JustEnough Price Management provides a centralized platform to manage all aspects of this important part of a retail operation including:

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

A single, flexible and intuitive 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.

JustEnough Price Management allows users to create a price plan at any level of the product hierarchy with a complete view of current inventory, price elasticity and product rate of sale. The JustEnough Price Management solution is part of a full suite of completely integrated retail planning applications, each designed to work seamlessly with all our other modules or interface with a retailer’s 3rd party software.

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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