Manage Catalog Pricing

Catalog Pricing module allows the user to maintain separate Locked In Price (explained below) for every catalog. This gives the user the flexibility to define Locked In Prices based on their agreements with different customers and sales channels.

Users can define and compare the ‘Locked In Price’ with the ‘Dynamic Sales Price’ to analyse and make decisions on renegotiations with the customers for finalising a better agreement that suits their mutual interests.

Definitions:

1. Current Landing Price

‘Current Landing Price’ is the actual cost of the product to the business and it includes the below components.

• Component Cost

• Shipping & Handling

• Labor Cost

• Vendor Discount

Note: The component costs can change as often as daily and should be updated as and when changed.

2. Locked In Price

The users sign an agreement with their clients that defines the ‘Locked In Price' for all the products. For as long as the agreement holds, the Clients can purchase the products at ‘Locked In Price’ irrespective of the ‘Current Landing Price’ on the day of purchase. It is the guaranteed price in agreement that Includes the below components:

• Landing Price on the day of agreement

• Margin: Profit margin

• Additional Costs:

  • Shipping and Handling

  • Labour costs

• Discount

3. Dynamic Sales Price

The ‘Dynamic Sales Price' of a product is calculated based on the Current Landing Price and the components in ‘Locked In Price’ (margin, shipping, labor, discounts). This is generally used for comparison with the 'Locked In Price’ to analyse if price negotiations are needed with the clients.

User Guide for creating and managing Catalog Prices:

1. Login to the Hopstack Platform

2. Click "Setup"

3. Click "Catalog"

4. Select "Catalog Management"

5. The users can add Catalog Prices during creating a new catalog as well as while editing an existing one.

Click "Add Catalog" under the "Actions" menu to create a new Catalog

6. Name the Catalog, and search and add relevant products to the catalog

7. Click "Set Locked In Price" under "Selected Products" section to define the 'Locked In Price' for each product individually

8. Define 'Locked In Price' components and click "Apply to Product"

Note 1: Margin and Discount can either be mentioned as percentage or dollar value.

Note 2: Alternatively, the user can also directly mention the 'Locked In Price' and in this case the 'Margin' will be auto-calculated by the system.

Note 3: ‘Lock In Date’ will be the date on which the user is making the changes.

9. Alternatively, click on "Set Locked In Price for All Products" to set the 'Locked In Price' for all the products in the catalog at once

10. Mention 'Locked In Price' components and click "Apply to All Products" to apply the 'Locked In Price' for all the products in the catalog.

Note 1: Margin and Discount can either be mentioned in percentage or dollar value

Note 2: ‘Lock In Date’ will be the date on which the user is making the changes.

11. Alternatively, click "Download Template" under "Actions" menu to download the template for updating the catalog prices in bulk

12. Mention the required data in the template CSV file and click "Upload Pricing Data"

13. Click "Browse" and upload the CSV file

14. Click "Verify" to validate the correctness of the data

15. Click "Submit" once the system validates the correctness of data in the CSV file

16. Click "Create" to create the catalog.

17. Search the Catalog from the filters on the left to view the Catalog Prices in an existing catalog

18. Hover over the 'Dynamic Sales Price' column to view its breakdown

19. Hover over the 'Locked In Price' column to view its breakdown

20. Click "Edit Catalog" CTA in the 3-dot menu to edit the Catalog Prices in an existing catalog

21. Click "Set Locked In Price" to edit Catalog Price for individual items

22. Click "Set Locked In Price for All Products" to edit Catalog Prices of all the products in the catalog

23. Click "Update" to save your changes