Price Changes

Navigation: From the Inventory Entry window and press the orange Price Changes button

The Price Changes window lets you change prices, costs, spiffs and temporary discounts for a range of inventory items. Before changing prices you are allowed to preview all changes and make sure they are what you want. There is also a Use Snapshots button to simplify making similar price changes later on down the road.

*Note: Since you can rename your price levels however you like, in these examples we will call the first price (usually Retail) Price A and the second Price B.

Example 1: Selecting Items to Change

If you are using the SnapShots button, see Example #3 below. Otherwise, the first step is to select the inventory items you want to use. You can use any combination of catalog numbers, sizes, types and groups. For instance, if you have an Item Group for Michelin Tires, you can select that group, and then select a range of sizes in that group.

After entering your criteria, press the Preview Selection button. To start over, press the Clear Entries button. Let’s say we want to change prices on all the catalog numbers of our Sport Michelin tires with MIC, but only tires with sizes beginning with 195.

• Enter MIC as the From Catalog #.
• Enter MICZ as the To Catalog #. Thus we select all of our items beginning with MIC as the To Catalog #.
• Enter 195 as the From Size..
• Enter 196 as the To Size.
• Enter Sport as the Keyword in Description.
• Now press the Preview Selection button to see what we come up with.
  

Once you have selected the items you want to change, the next step is to specify how they are to be changed. A few examples are offered below. Each example assumes you have already selected some inventory items using the methods above.

Example 2: Setting Prices for New Items

Let us say that when we originally entered these items into inventory, we only entered the cost, and there are no prices yet. We want to set Price A to a 40% markup, and Price B to be 10% less than Price A.

• If you have not yet done so, select the items to change following Example #1 above.
• On Price A, press the Change button.
• On the first drop-down, select Catalog Cost.
• Enter 40 for the percent.
  

*If we wanted a 40% profit margin rather than a 40% markup, we would click the ‘+’ and change it to an ‘M’ for Margin.

• On Price B, press the Change button.
• On the first drop-down, select Price A (or whatever your first price is called.)
• Click the + button to change it to a minus sign (-).
• Enter 10 for the percent.
• Press Preview Selection and click on a few inventory items, noticing the Before and After columns.

!Warning: The next step will change the prices in your inventory, so be sure you review the After column to make sure you will be satisfied with the results. and click on a few inventory items, noticing the Before and After columns.

• If everything looks correct, press the Update Inventory button and answer yes.

Example 3: Implementing a Cost Increase

We just had a 9% cost increase on these Michelin tires. We need to first increase the cost, and then recomputed the Price A and Price B. But this time, let’s round everything up so it ends with 99 cents.

• On the Catalog Cost, press the Change button.
• Select Catalog Cost on the first drop-down.
• Enter 9 for the percent.
• On Price A, press the Change button, unless it already says Change To.
• On the first drop-down, select Catalog Cost..
• Enter 40 for the percent.
• Select Up to 99 cents for the rounding.
• On Price B, press the Change button, unless it already says Change To.
• On the first drop-down, select Price A (or whatever your first price is called).
• Click the + button to change it to a minus (-).
• Enter 10 for the percent.
• Select Up to 99 cents for the rounding.
• Press the Preview Selection button.
• If you like what you see, press the Update Inventory button and answer yes.
  

Let’s save this SnapShot for later, so the next cost increase will be easier.

• Press the Use Snapshots button.
• Enter a name for the new SnapShot.
• Press the Save SnapShot button.
  

Example 4: Snapshots

Months have gone by, and the costs have just gone down 4%. If you just did the Example #3 above, close the Price Changes window so we can start fresh.

• Re-open the window and press the Use SnapShots button.
• Select the one created in Example #3, if it is not already selected.
• Under Catalog Cost, change the ‘+’ to a ‘-’, and change the 9 to a 4.
• Press the Preview Selection button.
• If you like what you see, press the Update Inventory button and answer yes.

What could be easier? Once the SnapShots are set up, you need never fear price changes again.

Example 5- Temporary Discounts

We want to have a one-week 10% discount on a line of tires that we got a special purchase on.

• Select a range of items to discount by filling in the Catalog numbers, sizes, types and/or groups as before, and press the Preview Selection button to fill the list-box with some items.
• Click the Temporary Discounts radio button in the center of the window.
• Select the date range in which you will run the special.
• On Price A, press the Change button, unless it already says Change To.
• On the first drop-down, select Price A (or whatever your first price is called.).
• Click the ‘+’ button to change it to a ‘-’.
• Enter 10 for the percent.
• Do the same for any other price level you want to discount.
• Press Preview Selection and click on a few inventory items, noticing the Before and After columns.
• If everything looks correct press the Update Inventory button and answer yes.
  

Example 6- Spiffs

We really want to move some old tires, so let’s try putting a spiff on them for a couple of weeks.

• Select a range of items to discount by filling in the Catalog numbers, sizes, types and/or groups as before, and press the Preview Selection button to fill the list-box with some items.
• Click the Spiffs radio button in the center of the window.
• Click the Spiff Runs From radio button.
• Select the date range in which you will run the Spiff.
• If we wanted to give a flat $5.00 a tire, we could just replace the $0.00 with a 5 and we would be done. However, we want to base the Spiff on the price.
• Select Percent of Price from the drop-down.
• Select Price A (or whatever your first price is called) from the first drop-down.
• Click the ‘+’ button to change it to a ‘-’.
• Enter 95 for the percent.
• Press Preview Selection and click on a few inventory items, noticing the Before and After columns. As you see, the Spiff is now 5% of the Price A (Price A minus 95%.)
• If everything looks correct press the Update Inventory button and answer yes.
  

Example 7- Linked Items

We just decided that all Michelin tires we sell would come with the New Tire package.

• We first decide which package we will link the tires to. In the sample and start-up data, a package called PKTI has been set up as a new tire package. See the section on Packages if you would like to modify this package or add a new one.
• In the Price Changes window, type MIC in the From Catalog # line and MICZ in the “to” line and press the Preview Selection button to fill the list-box with Michelin tires.
• Select the Linked Items tab.
• Enter PKTI for the for the Linked Item, or click the … button to select it from the Inventory Search window.
• Click the Update Inventory button.