Why Price Management Needs To Be Integrated
The value of a completely integrated retail management system cannot be overstated in today’s multi-channel retail environment. Price Management is one area that perfectly illustrates the need for the consistency, transparency, and efficiency that integration provides.
Integration provides the big, overall view of the entire business from one end to the other and across all channels. There is no “silo” effect, where information sits isolated and inaccessible. ChainDrive’s centralized database enables the automatic collection of data at multiple points in real time so price monitoring and analysis are optimized. You see what is going on in every product’s price cycle at every point and can make decisions with confidence.
The price management tool enables multiple, concurrent promotional campaigns to be controlled consistently even when variables like geography or CRM factors are involved. Integration lets you see what is happening and make it consistent with your pricing strategies.
One of the things a shopper hates is getting to the register and finding out the price is different than they’d seen in the ad. Retailers hate that, too, because it is bad for the brand and bad for business. When the customer complains, it is helpful to be able to see what the details of the offer are and be able to rectify the situation positively.
But you don’t want just anybody accessing the system. That’s why all access to pricing and changes are governed by ChainDrive’s system-wide security manager. This gives full control over what can be done and who can do it. Integration means authorized users can see all the factors that come into pricing issues.
Real-time performance metrics are important if price management is going to be efficient. Being able to monitor and analyze price changes over time provides needed insight for future decisions. Integration provides the complete spectrum of data and makes reporting accurate. Using your own historical and real-time information to analyze your pricing policies gives a complete, personalized view.
Decisions made regarding price changes can be made in confidence. Because price management has been integrated with the rest of the business, all the pieces work together efficiently and the result is a smoothly running retail enterprise.
ChainDrive Retail Price Management software enables your team to integrate tasks consistently, transparently, and efficiently.