This topic contains subject areas that deal with retail price. In retail, price management is a complex topic. ARTS provides a rich collection of entity types to address this complexity.
•The Logical 01300 - Item Price Maintenance View offers a straight forward price change approach that overwrites the previous price with a new. The override (price change) may be permanent or temporary. Price changes of this type cause a revaluation of on-hand inventory and cause inventory adjustments to be made as markdowns(the usual scenario) or mark ups. The Logical 01300 presentation of price changes are static changes; and
•The Logical 01400 - Item Rewards Derivation - Transaction Level subject area offers a dynamic approach to price management. Price changes are not pre-defined replacement values. They are expressed as one or more derivation rules (calculations) programmed to be executed when certain conditions are satisfied (eligibility). These conditions determine when a given customer, purchasing a given item at a given time may be eligible to receive a discounted price. These rules can be very complex to specify and execute. This subject area defines the rule set for deriving prices at the point of sale. The dynamic nature of the Logical 01400 subject area stems from the intra-transaction calculation of retail and the possibility that an item could yield two different retail prices depending on customer loyalty stats, promotional eligibility rules and similar rules.