Vinculum Knowledge Central

Pricing Event

 Introduction

For any brand or a multi-brand company, managing promotions and discounts over a particular period or on a regular basis, becomes a time-consuming task. The promotions applied over a range of SKUs are valid for a defined/regular period and the orders for these SKUs should reflect those promotions and discounts for easy business processing. 

This is where the Pricing Event functionality comes into picture. The pricing event functionality is the module where the user can decide the promotional offers and discounts on range of SKUs/Customer/product categories. 

The user can enquire and edit the promotional offers/discounts on the transactions which are provided by the user and these offers can be added to a particular SKU or any category or a subcategory or a brand. 

To create a Pricing Event in the system, following are the steps that are be followed – 

1. Click on Master module and navigate to Miscellaneous section of the module. 
2. Click on Pricing Event under the miscellaneous section. 
3. Click on Add New to add a new pricing event. A new screen for Pricing Event Create/Edit will open. 
4. Fill in all the details related to Pricing event and Customer details and click on Next. 
5. When clicked on Next, a new tab for SKU details will be visible. Fill in all the required details related to the pricing event being created and add in the UDFs if any.
6. Click on Save and the event will be added to the system.

Navigation: Master > Miscellaneous > Pricing Event

When the user clicks on Pricing Event, below screen will appear. This screen enables the user to screen/ filter the already existing pricing events in the system based on certain parameters

Action buttons:

To add a new event to the system, the user can click on Add new button and a new screen will appear. 

The overall pricing event is divided into three broad sections –

Following are the fields that the user can fill in to specify the details for the event – 

• Pricing Event Code: This is the system generated identification code for each pricing event created in the system.
• Pricing Event desc*: This is the description of the pricing event being created
• Status: This is the status of the scheme and is a system generated field.
• Pricing event Type*: This is the type of the event, whether regular or temporary, that is created in the system. A regular event is a type of event which is applicable on an ongoing basis and has no end date. A temporary event is a type of event where the user can set a specific period of time on which the event is applicable.
• Eff. Start date*: This is the effective start date for the event being created in the system. It is mandatory for both type of events, temporary or regular. 
• Eff. End date: This is the effective end date for the event being created in the system. It is required only for temporary pricing events.
• Active: This is the checkbox if the event is active or inactive.
• Customer Details: From this section, the user can add customers to the pricing event based on the type of customers defined in the customer master. The user also has an option to add All customers applicable for a pricing event.  

After filling in all the details related to the above three sections, the user can click on Next to add the SKU details. The user can also reset the filled in criteria on the screen from the Reset button.

Following are the SKU details that needs to be filled for the pricing event created – 

• All SKU: This checkbox, if checked, means that the event that is created is applicable for all the SKUs in the system. If this checkbox is checked, all the other details are disabled.
• Merch. Hierarchy: This field is used to capture the merchandising hierarchy on which the pricing event will be applicable.
• Brand:  This is the field where the user can select a specific brand on which this event is applicable.
• SKU Code: This is a specific SKU on which the event is applicable and can be selected here.
• SKU Desc: This is the description of the SKU being selected for the pricing event.
• Vendor: This is the vendor for which the pricing event will be created in the system. For goods specific to a particular vendor, we can add offers and discounts for those goods.
• MRP Range: This is the range of MRP on which the pricing event will be applicable.
• SKU Group: This is the SKU Group on which the offers and promotions can be defined based on the parameters selected in the pricing event
• Discount Type*: This is the type of discount that is offered to the SKUs selected (Absolute/Fixed/Percentage)
• Operation*: This is the application of the discount whether to mark up the discount amount or mark it down.
• Event on*: This is the criteria on which the discounts on the pricing events shall be applicable (Base cost/MRP/Sale price). Ideally, the event is applicable on MRP.
• Discount Value*/Fixed value/Discount percentage: This field has the discount value based on the discount type (Absolute/Fixed/Percentage) which can be added in the promotions.
• Rounding mode*: This is the rounding of the discount amount, whether to round it off to exact amount or can round up, round down or half round the amount.

After filling in all the details, the user can click on Add button and the SKUs with the corresponding details will be visible in the grid on the screen. The user can then click on Save button to save the event in the system.

Considering a hypothetical example, the user wants to create a pricing event for the following parameters:

SKU Name = SKU1

Discount type = Percentage

Operation = Markdown

Event applicable on MRP

Discount percentage = 10%

Rounding mode = exact

Initial MRP of SKU1 = 100

MRP after Pricing Event = 100 – 10%*100 = 90

Action buttons: