Understanding Pricing Rules
Overview
This article provides a step-by-step guide to understanding and configuring Pricing Rules in iVendNext.
1. Introduction to Pricing Rules
Pricing Rules are automated conditions that determine how discounts or special rates are applied to items, item groups, or transactions. They are often linked to Promotional Schemes, which are temporary discounts designed to boost sales. Pricing Rules can be customized based on various factors such as quantity, amount, customer groups, and validity periods.
Key Benefits of Pricing Rules
Automate discounts and special pricing.
Apply rules to specific items, groups, or transactions.
Reward customers with cumulative or conditional discounts.
Set validity periods for time-bound promotions.
2. Prerequisites for Creating Pricing Rules
Before creating Pricing Rules, ensure the following are set up in iVendNext:
Items: Products or services to which the rule will apply.
Item Groups: Categories or collections of items for bulk pricing rules.
Customers/Customer Groups: Target audiences for the pricing rules.
Suppliers/Supplier Groups: Applicable for buying-side pricing rules.
Note: Pricing Rules are often created automatically when you set up a Promotional Scheme.
3. How to Create a Pricing Rule
Pricing Rules can be created directly or via Promotional Schemes. Here’s a step-by-step guide:
3.1 Accessing the Pricing Rule Section
Navigate to: Home > Selling > Items and Pricing > Pricing Rules.
Click on New to create a new rule.
3.2 Configuring the Rule
Title: Enter a descriptive name for the rule.
Apply On: Select the scope (Item Code, Item Group, Brand, or Transaction).
For example, selecting Transaction applies the rule to the total invoice amount.
Party Information: Specify whether the rule is for Selling, Buying, or both.
Link the rule to specific customers, territories, or suppliers.
3.3 Setting Discounts or Rates
In the Price Discount Slabs table, configure the following:
Quantity/Amount: Set minimum/maximum thresholds for the rule to apply.
Discount Type: Choose between:
Rate: Fixed price for an item (e.g., sell at $112 instead of $100).
Discount Percentage: Percentage discount (e.g., 10% off).
Discount Amount: Fixed discount (e.g., $7 off).
3.4 Additional Options
Mixed Conditions: Apply the rule only if the total quantity/amount of selected items meets the threshold.
Is Cumulative: Enable to apply discounts across multiple transactions (e.g., reward customers for cumulative purchases).
Validity: Set start and end dates for time-bound rules.
3.5 Save the Rule
Once configured, click Save. The system will automatically generate the Pricing Rule.
4. Key Features of Pricing Rules
4.1 Apply Rule on Other Items
This feature checks conditions on one item but applies the discount to another. For example:
Condition: Purchase 30 units of Item A.
Discount: Apply a flat rate on Item B.
4.2 Party-Specific Rules
Pricing Rules can target:
Customers or Customer Groups.
Territories or Sales Partners.
Suppliers or Supplier Groups.
4.3 Validity and Currency
Set date ranges for promotions.
Specify currency to ensure the rule applies only to transactions in that currency.
4.4 Advanced Discount Settings
Warehouse Filters: Apply rules only to items from specific warehouses.
Priority: Resolve conflicts between multiple rules (higher priority overrides lower).
Threshold for Suggestion: Notify users when they’re close to qualifying for a discount.
5. Types of Pricing Rules
5.1 Price Discount Rules
Apply percentage or fixed discounts based on quantity or amount.
Example: "Buy 10 units, get 10% off."
5.2 Product Discount Rules
Offer free items on qualifying purchases.
Example: "Buy 2, get 1 free."
6. Practical Examples
6.1 Mixed Conditions Example
Scenario: A customer buys 10 units of Product X and 5 units of Product Y. The rule applies a 10% discount if the total quantity is 15.
Steps:
Set Apply On to Item Code.
Add Product X and Product Y to the rule.
Enable Mixed Conditions.
Set Min Qty to 15.
Choose Discount Percentage and enter 10.
6.2 Discount on Other Items Example
Scenario: A customer buys 30 units of Product A, triggering a flat rate of $12 for Product B (original price: $15).
Steps:
Set Apply On to Item Code and add Product A.
Set Apply Rule On Other to Product B.
Enter Min Qty as 30.
Select Rate and set it to 12.
Related Articles
Understanding Shipping Rules
Overview You can use Shipping Rules to configure delivery charges based on criteria such as destination, item weight, and order value. This article explains how to set up and manage Shipping Rules in iVendNext. 1. What Are Shipping Rules? Shipping ...Implementing Promotions: Buy 1 Get 1 Free and Other Pricing Rules
Overview This guide provides a step-by-step approach to setting up these promotions, ensuring you can leverage them effectively in your retail operations. Understanding Pricing Rules Pricing Rules in iVendNext allow you to define discounts and ...Item Pricing and Price Lists
Overview This article explains how to set up, manage, and optimize your pricing structure within iVendNext. 1. Understanding Pricing Components 1.1 Price Lists Function as containers for item prices with: Regional pricing (e.g., New York vs. Houston) ...Understanding Authorization Rules
Overview This article will guide you through the concept of Authorization Rules, how to set them up in iVendNext. These rules ensure that specific conditions are met before a document can be submitted or approved, adding an extra layer of control and ...Understanding Tax Rules and Categories
Overview iVendNext simplifies tax management by automating tax applications using Tax Rules and Categories. Based on criteria like customer type or item category, these tools ensure accurate, compliant tax handling. This guide explains how to set ...