Price Lists and Special Price Lists
Price Lists and Special Price Lists
iVend Retail provides a comprehensive and multifaceted pricing engine. There is a great array of flexible features that can add a depth of highly configurable methods for setting prices that can be used at the store.
Prices are defined in Price lists and can then be extended using the Special Price Lists features in iVend. Initially prices for items are set in a Price List that is then assigned to the store as the first level of default prices.
There is no limitation in iVend as to how many Price Lists can be created however, only one Price List is set as a default per store for selling items at the Point of Sale. A further Price List can be assigned to the store for managing item costs.
Figure 1 Store setup
Vend does provide a facility within the Store Setup to allow the user to assign alternative Price Lists that are driven by an effective date, which must be set beyond the current business date. This is done via the additional Store Price List option found within the Store Setup. The user presses the [Price List] button and in here they can define alternative Price Lists to be used with an Effective From date. This allows for the seamless change from one Selling Price List to another for the store and is particularly useful for when there are price increases. It allows for the price changes to be managed without interruption to store operations at the POS. The new Price list can be set and when the effective date arrives the store will automatically switch to the new Price List without any need for down time.
Figure 2 Store Price List Management within Store Setup
When iVend is integrated to an ERP, then the Price Lists and Special Pricing are usually managed there in the back office and are then replicated to iVend Retail. Price Lists and Special Pricing can still be viewed in iVend when the system is integrated to an ERP however no changes can be made within iVend itself.
In this topic however, we will look at the setup and configuration of Price Lists and also Special Price Lists in the scenario of iVend Retail being unplugged and as such will provide a better understanding of features and functions on offer.
Prices for items are managed at the first level by Price Lists then they can be set in the following mechanisms:
· Price List:
· Customer
· Store
· Special Price lists
· Based on Customer and Price List
· Based on Price List
Special Price Lists can be used to set date/time ranges and volume (quantity break) discounts.
The price list and special prices set for the store and for individual customers will automatically appear in the sales transactions at the POS.
In summary, the system will look at the prices set in the following order when apply the price in a sale transaction at the POS:
1. Special Price for Customer (taking into account date/time ranges and volume discounts)
2. Price List for Customer – When selling items at the POS then the Price List assigned to the customer will be used in preference to the Price List set for the store.
Figure 3 Setting a Price List for the Customer
3. Special Prices set on the Price List used by the Store (taking into account date/time ranges and volume discounts)
4. Price List assigned to the Store (taking into account the Effective From date).
Discounts for items can also be applied in the following mechanisms:
· Customer Group
· Product Group
· Manufacturer
In the next couple of sections, we will take a closer look at the setup screens for Price Lists and Special Price Lists.
Price List Setup
To open the Price List window, in the Management Console navigate to and choose:
Operations > Pricing and Promotions > Price List
Search Screen
Field | Description/Activity |
Search Criteria | |
Code | Enter a Price List code to filter the search results by the Price List code. By default, the system displays all of the available Price Lists in the system when the Price List window is opened. |
Description | Enter a Price List description to filter the search results by the Price List description. |
Search Results | |
Code | This field displays the code of the Price List(s) that have been searched on. |
Price List Name | This field displays the description of the Price List(s) that have been searched on. |
Subsidiary | If the Subsidiary functionality has been enabled in the system, then this field is displayed and the Subsidiary that the Price List is assigned to will be shown. |
To create a new Price List, press the [F3 New] button.
Figure 4 Price List
Price List Setup Screen
Field | Description/Activity |
Header Columns | |
Code | Enter a unique Code for the Price List. |
Name | Enter a Description for the Price List. |
Applicable Subsidiary | Select a Subsidiary to which the Price List should be assigned – Click the radio [...] button to open the Subsidiary Search screen and select a Subsidiary. If enabled, then selecting a subsidiary is mandatory.
|
Currency | Select a currency that the Price List will be assigned to.
|
Detail Lines | |
Product Code | This field displays the product code of the items that have been added to the Price List |
Product Description | This field displays the product description of the items that have been added to the Price List |
Price | This field displays the Price of the item that has been added. The user can edit this field. If a base price was entered in the Product Master for the items being added to the Price List then that the system will use that as a default price when the items are added however, this can be overridden as required.
|
Buttons | |
[Add Products] | The user clicks this button to search on and add items to the new Price List. Multiple items can be selected and added in the single process. |
[Delete Products] | The user clicks on this button to remove selected items that have been added to the Price List. Multiple items can be selected and removed in the single process. |
[Ok] | If the user presses this button, then the new Price List will be saved with the changes made, the database will be updated and the Price List Setup window will close. The new Price List will be added to the system and will be available to search, edit, copy and view in the Price Lists Search window. Figure 5 Price List Search |
[Cancel] | If the user presses this button, then no changes will be saved, the database will not be updated and the Price List Setup window will close. The Price List will not be added to the system. |
Next, we will look at the Special Price Lists Setup screen
Reviewing the various elements and features of the Special Price List array of expansions and hierarchies, will lead to a greater understanding of how the pricing can differ at the POS when processing sales transactions.
To open the window, in the Management Console navigate to and choose:
Operations > Pricing and Promotions > Special Price List
Figure 6 Special Price List
Special Price List Screen
Field | Description/Activity |
Customer Code | This field displays the account code of the customer that the Special Price List has been defined for and assigned to. |
Customer First Name | This field displays the account first name of the customer that the Special Price List has been defined for and assigned to. |
Price List Code | This field displays the Price List code that the Special Price List has been defined for and assigned to. |
Price List Name | This field displays the Price List description that the Special Price List has been defined for and assigned to. |
Subsidiary | If the Subsidiary functionality has been enabled in the system, then this field is displayed and the Subsidiary that the Special Price List is assigned to will be shown. |
Buttons | |
[F3 New] | If the user clicks this button then the Special Price List Setup screen will appear where the user can create a new Special Price List. |
[F4 Edit] | If the user wishes to edit an existing Special Price List, then they select a record from the list and click this button. |
[F5 Delete] | If the user wishes to delete an existing Special Price List, then they select a record from the list and click this button. |
[F7 View] | If the user wishes to view an existing Special Price List, then they select a record from the list and click this button. This option allows the user to view the Special Price List only – they cannot make any changes when selecting this option. |
[OK] | If a user selects this button, then the selected Special Price List from the list of available records will open in view only mode. The [Ok] button on this screen performs the same function as pressing the [F7 View] button.
Select a row in the grid for which the ‘Special Price List Master’ screen is to be opened and click on the Ok button. |
[Cancel] | If the user selects this button, then the Special Price List window will close. |
To create a new Special Price List, click on the [F3 New] button.
Figure 7 Special Price List base on a Price List with Date Range Expansion and Volume Discount Hierarchy
Special Price List Setup Screen
Field | Description/Activity |
Subsidiary | The user can click on the radio […] button to search for and select a Subsidiary to which the Special Price List will be assigned to from the list of available Subsidiaries.
|
Pricing Type | Before proceeding further, the user must first define the Pricing Type for the new Special Price List they are creating. Select the Pricing Type for the Special Price List from the drop down. Valid values are: · Based on Customer · Based on Price List |
Customer /Price List | Depending on the Pricing Type selected in the previous field, then the system will dictate what the selection criteria will be in this field as follows: · If Based on Customer, then select the Customer to which this Special Price List will be assigned to. · If Based on Price List, then select the Price List to which this Special Price List will be assigned to. Click on the radio [...] button to open the respective search screen and select the required record. |
Base Price List | Depending on the Pricing Type selected in the previous step, then the system will dictate what the selection criteria will be in this field as follows: · If the Pricing Type is Based on Customer, then the system will allow the user to select the Base Price List to which this Special Price List will be assigned to. · If the Pricing Type is Based on Price List, then the system will automatically assign the Base Price List according to the Price List that was select by the user in the previous field. If Pricing Type is Based on Customer then the user can click on the radio [...] button to open the Price List search screen and select the required record.
|
Is Active | The user can check/uncheck this box to activate/deactivate the Special Price List. By default, the system will flag the Special Price List as active however, the user can change this at any time as desired. |
Valid From/To | The user can enter an optional validity period in the Valid From and Valid To dates if desired. Clicking on the drop down will open a Calendar pop-up for easy date navigation and selection. This provides an extra level of management for the Special Price List at the header level that would then apply to all of the products that have been added. This is useful as it would potentially avoid the need to set a validity date per product that have been included in the Special Price List. The user can still assign date ranges and volume discounts per row if they wish but the validity dates set in the header must allow for the dates set at the row level, meaning that the dates at the rows must be inclusive of the date range set in the header.
|
Buttons | |
[Add Product] | This button allows the user to add one or more products to the Special Price List. This is the first, initial level of the Special Price List. Discounts can be set at this initial level by Amount or Percentage for the product. |
[Delete Product] | This button allows the user to remove one or more existing products that have been added to the Special Price List. |
[Add Date] | This button allows the user to add a date range expansion and to set a second level of special pricing for the product. Discounts can be given at this second level by Amount or Percentage for the date range defined. Pricing set at this level takes precedence over the pricing set at the first product level |
[Delete Date] | This button allows the user to remove a selected date range expansion of special pricing for the product. |
[Add Quantity] | This button allows the user to add a quantity-based hierarchy and set a third level of special pricing for the product. Discounts can be given at this third level by Amount or Percentage within the date range defined. Multiple quantity-based hierarchies can be defined within the date range. Pricing set at this level takes precedence over the pricing set at the second and first product levels within the Special Price List. |
[Delete Quantity] | This button allows the user to remove a selected quantity-based hierarchy of special pricing for the product. |
[Ok] | Selecting this button saves the changes made, updates the database with the new Special Price List and closes the screen. |
[Cancel] | Selecting this button will not save any changes, the database will not be updated, the new Special Price List will not be created and the screen will be closed. |
Special Price List - Adding Products, Date Range Expansions and Quantity Hierarchies | |
Adding Products | |
Product | Add and select the one or more products to include in the Special Price List. |
Price | This field displays the current price of the product for information purposes and is not editable. |
Discount Type | Set the discount type to be calculated by either Amount or Percentage. The valid values that can be defined are: · None · Amount · Percent |
Discount | Set the discount value in either Amount or Percentage as per the method specified in the Discount Type. |
Special Price List Based on a Customer with Date Range Expansion and Quantity Hierarchy
| |
Adding a Date Range Expansion | |
From Date | Enter the From Date for which the Special Price List date range expansion is to be applied. |
To Date | Enter the To Date for which the Special Price List date range expansion is to be applied. |
Price | This field displays the current price of the product for information purposes and is not editable. |
Discount Type | Set the discount type to be calculated by either Amount or Percentage. The valid values that can be defined are: · None · Amount · Percent |
Discount | Set the discount value in either Amount or Percentage as per the method specified in the Discount Type. |
Adding Quantity Hierarchies | |
UoM | The user can search for and select a Unit of Measure group for the product if one should apply. |
Quantity | The user can enter a quantity break hierarchy for the product to drive quantity-based special pricing. Multiple levels of quantity hierarchies can be defined if desired, For example: · Set a quantity of 2 = 15% Discount (When the customer purchases a quantity of 2 – 4 they receive a 15% Discount). · Set a quantity of 5 = 20% Discount (When the customer purchases a quantity of 5 or more then they receive a 20% Discount).
|
Price | The user can set an alternative price for the quantity-based calculation for the Special Pricing if desired. This price defaults to the Price of the product that has been assigned in the Price List that was selected as the Base Price List.
|
Discount Type | Set the discount type to be calculated by either Amount or Percentage. The valid values that can be defined are: · None · Amount · Percent |
Discount | Set the discount value in either Amount or Percentage as per the method specified in the Discount Type. |
Special Prices at the POS
To finish off on this topic, we will look at the Special Prices in action at the POS.
We will use the Special Price List that we setup in our example above, for customer C0019 Cary and product 100102 Men’s Solid Polo where we applied the following:
· An initial discount of 5%
· Then a date range expansion discount of 10% between 16th May and the 31st May.
· Then a quantity hierarchy volume discount of 15% for when the customer purchases a quantity of two (2).
In the first image that follows, we see the effect of the Date Range Expansion discount and then in the second image we see the effect of the Quantity Hierarchy (Volume) discount.
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