Do you have a lot of volatility in stock levels? Have you struggled with setting the right prices for these items? Did you know you can include customer demand into your pricing model to manage your stock levels better?
Stock-based pricing, also known as inventory-based pricing, is a form of dynamic pricing that uses the amount of stock available to determine the price of the product. Quickly reacting to changes in the demand for the items you currently have on sale can significantly increase your margins. However, monitoring this and adjusting it manually can be almost impossible and often companies leave extra margin on the table.
This is why we created the stock-check pricing rule in SYMSON. Using this pricing rule is as simple as adding it to your strategy block. Then you can adjust the stock-level threshold at which your prices would be increased. The stock-check pricing rule can also be used the other way around to decrease the price of items with higher levels of inventory. With SYMSON you can react automatically to the changes in demand, increase your profit and get ahead of the competition.
Do you want a free demo to try how SYMSON can help your business with margin improvement or pricing management? Do you want to learn more? Schedule a call with a consultant and book a 20 minute brainstorm session!