DemandTec

Everyday Price Management

Boost Efficiency by Automating Retailers’ Most Cumbersome, Time-Consuming Pricing Tasks

• Simplify and streamline the pricing process with rules-based pricing
• Respond to volatile vendor cost and competitive price changes with advanced price maintenance
• Quickly review, approve, and deliver pricing to downstream systems

In some companies, a single vendor’s cost changes can lead to hours or even days of tedious, manual effort to keep prices in compliance with a retailer’s guidelines. A cost change to one item can set off a domino effect that changes other items to maintain line pricing, size relationships, private label pricing rules, and a host of other, often conflicting rules. It’s no wonder that “bad” pricing decisions can be readily seen when walking the aisles of some retailers.

Everyday Price Management, a software service in the DemandTec Lifecycle Price Optimization™ solution, enables retailers to improve execution and compliance with their pricing strategy, and dramatically boost efficiency by automating retailers’ most cumbersome, time-consuming pricing tasks.

Simplify and Streamline the Pricing Process with Rules-based Pricing

Using Everyday Price Management, retailers are able to define and enforce their pricing policies by creating pricing scenarios with rules selected from a comprehensive rules library. Pricing rules, such as last digit rules, competitive price index rules, and cross-zone rules, are configured using easy-to-understand natural language. Retailers can prioritize these rules in their pricing scenarios in order of importance. In the event that conflicting rules make it impossible to calculate a price scenario that adheres to all of the rules a retailer defines, Everyday Price Management’s proprietary rules relaxation capability gives retailers the option to consider price scenarios that best conform to a retailer’s rules and goals.

Respond to Volatile Vendor Cost and Competitive Price Changes with Advanced Price Maintenance

Everyday Price Management provides operational price management capabilities to handle frequent vendor cost changes, competitive price changes, and new item introductions. Once new pricing information enters the solution, retailers can set individual and cumulative thresholds and pass-through percentages to dictate what criteria trigger price changes on the shelves.

Quickly Review, Approve, and Deliver Pricing to Downstream Systems

Everyday Price Management’s advanced pricing delivery capabilities enable retailers to quickly review and approve incoming data, and to automatically schedule when updated pricing will be delivered to downstream systems. Retailers can instantly review how a new pricing scenario will affect key metrics such as sales, margin, and volume, which items will receive new prices, and what triggered each resulting price change. Everyday Price Management also gives retailers the flexibility to selectively override recommended pricing for a given set of SKUs, lines, brands, or zones in a price scenario.

Everyday Price Management: Part of a Comprehensive Solution for Managing Pricing Across the Entire Product Lifecycle

Everyday Price Management is a software service in DemandTec Lifecycle Price Optimization, a solution that includes related software services that enable retailers to price items at any stage in their lifecycle – including new items, regular retails, promoted items, and clearance items. All software services reside on the DemandTec Platform™, and are available through a single personalized portal.

Get Started Today

Are you ready to improve the efficiency of your price management processes? Take the next step. For more information, call 1-888-676-3626 or request information online.