Product Management software controls inventory and pricing
One of the main functions of a retail business that will make or break its success is its ability to make changes in inventory levels and pricing to match the current trends of the market and the interests of the customer base. In order to do this most efficiently, you’ll want to rely on more than just your intuition or a basic spreadsheet. If you’re a retail manager looking for the best way to oversee your products, consider investing in ChainDrive’s retail management software package. It includes a Product Management component that comes equipped with tools for dealing with important aspects of your products such as pricing, categorization, and more.
The Price Management feature goes beyond basic price analysis to give you an accurate understanding of your products and how they function at different price levels. The system can handle any range of products, from an individual item to products across multiple banners. For businesses that have diverse locations, you can zone pricing based on market trends in the specific geographical area of a given store. This flexibility allows you to make changes in one massive move or make more targeted alterations to pricing based on analysis and reporting also found in the same module.
The software’s Inventory Matrix is also an extremely helpful tool. It helps you with everything from purchasing and simulations to transfers and allocations. It has the ability to project theoretical results of a given action so that you can consider how it might affect your business before you make the move.
The ability to apply user-definable attributes within Product Management allows you to effectively create a limitless amount of categories to organize your products. You can group by size, style, brand, color, and more. This is extremely effective for businesses that deal in products that rely on seasonality and similar conditions.
Use Product Management software to take control of your inventory!