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REPRICE

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REPRICE

 

 

Choose 2,9 - reprice - you can select a date range and

perhaps a major code range and choose Start Repricing

 

Please note that there's no UNDO feature here!

You must have a backup first and check the results.

If you don't like the results you'll have to restore

your data.

 

When you choose Start Repricing the 3 options are

reprice based on cost, retail or markup

 

*) Cost: Here you can choose a percentage of the cost

as the new retail price. i.e.  250% would price a $200 cost

item at $500 (regardless of the current retail price)

 

*) Retail: Here you can choose to bump up or down the price

based on the current retail. e.g.  choosing positive 10% would

reprice an item currently priced at $500 to $550. Choosing

minus 15% would reprice an item currently priced at $500 to $425.

 

Both of the above ignore the current markup factors in the major

code area

 

 

*) Markup: Here the program will reprice the items based on

the cost and current markup factors which can be different for each

major code. So, you might change watches to a markup factor of 3.3

round to $10 and 50 cents. You might change rings to a markup factor

of 2.75x round to $5 and 95 cents. in this case a ring costing $125

would become $345.95 where a $125 watch would become $420.50

 

So if you revamp your markup scheme for the major codes, that will

help you price all new merchandise but it can also reprice your

old merchandise with one fell swoop.

 

However, it ignores any  special pricing. e.g. you received an

item for $100 but you know it's worth $1200 retail so that's the

old price. If you repriced based on current price $1200 + 10%

becomes $1320 but if you repriced based on markup factor it could

become $275.95.

 

However even in this case when you go to retag, hopefully you're

aware enough to put it aside when replacing a $1200 tag with

a $275 tag

 

Note that if you have certain vendors with special markup factors

these supersede the major code markup factors - only for those items

from those vendors. If you have major codes with no markup factor

then the default price-mark markup factor kicks in - from page 7

of store information defaults.

 

Now.. For the first two cases (cost + retail) you could end up with

ugly prices. e.g. repricing a $275.50 ring up by 10% would yield

a price of $303.05. So when you choose cost or retail you get the

option to round the result to the rounding figures in the major

class code. i.e. $275.50 + 10% = $303.05 but then rounded to

$5 and 95 cents = $305.95

 

So in this case we're not using the markup formula except for the rounding

portion.