Improve responsiveness and comply with pricing policy, strategies and goals
Apply analytics to pricing
Pharmacy chain succeeds with pricing analytics
IBM Price Management helps retailers improve execution of and compliance with their pricing policy, strategies and goals.
IBM Price Management can help you:
- Simplify and streamline the pricing process with rules-based pricing.
- Respond quickly to volatile vendor cost and competitive price changes with advanced price maintenance.
- Quickly review, approve and deliver pricing to downstream systems with advanced pricing delivery capabilities.
Simplify and streamline the pricing process
- Define and enforce pricing policies by creating pricing scenarios with rules selected from a rules library.
- Configure pricing rules, such as last-digit rules, line pricing rules, competitive rules and cross-zone rules, using intuitive natural language.
- Prioritize rules in pricing scenarios in order of importance.
- See when conflicting rules make it impossible to calculate a price scenario and use a rules relaxation option to consider price scenarios that most closely conform to pricing rules and goals.
Respond quickly to volatile vendor cost and competitive price changes
- Provide operational price management capabilities to handle frequent vendor cost changes, competitive price changes and new item introductions.
- Set individual and cumulative thresholds and automate changes when new data becomes available.
- Dictate which criteria trigger price changes on the shelves.
- Take decisive action and execute pricing changes promptly.
Quickly review, approve and deliver pricing to downstream systems
- Automate the scheduling and delivery of pricing updates to downstream systems.
- Instantly review how a new pricing scenario will impact key metrics such as sales, margin and volume, which items should receive new prices and what triggered each resulting price change.
- Selectively override recommended pricing for a given set of SKUs, lines, brands or zones in a price scenario.
View an easy-to-read dashboard with pricing data on demand.
Gain pricing intelligence to dynamically respond to competitive price changes.
See detailed pricing data that can be filtered and exported for deeper insights.