Inventory Pricing: Types of Item Pricing Rules in Counterpoint POS

The Inventory Pricing module is designed to be flexible and easily configurable for retailers with more complex pricing needs for discounts, markups, promotions, holiday sales, customer-specific, special member rates, and contractual pricing.

Pricing here is determined by a rule or set of rules that apply to a group code, which can be configured by the user to suit their needs. These rules can be based on any combination of conditions that the user specifies.

IMPORTANT: Each group code contains control parameters that can be applied to every rule within the group code (Main tab). The rules (Rules tab) within a group code have parameters that allow you to declare if they apply to the retail price of an item, the item category (or multiple categories), the method of discount or markup (i.e. percentage-based, fixed amount, or based on the item’s target margin), and if there is any minimum quantity of item(s) or dollar purchase amount on the ticket to put the rule in effect.

Special Prices

Here are some examples of Special Pricing, such as BOGO (buy one get one), twofer (buy X amount, get Y discounted/free), clearance specials, employee discounts, membership rates, and wholesale customer rates. In Counterpoint, special prices are applied at all times, you cannot specify a date and time range.

The special price rule below shows that employees receive 10% off the regular price of all store items, with no minimum quantity restriction.

Promotional Pricing

Promotional pricing and planned promotions are applicable to one or multiple items in the system. We can apply the rule on one or multiple products, their categories, or to a specific customer or order type.

We also have the option to declare a date and time when the rules take effect. In the example below, we’re applying 15% off to all items in the Murco (vendor) paints (category) for our 4th of July sale.

Contract Prices

Contract pricing is typically applied to a specific customer, category of customers (e.g. retail or wholesale), or customer type (e.g. cash or A/R), and optionally the date(s) and time(s) that the group code is in effect. Of course, we can set a date or date range when the rules apply.

This feature works great for building supply, flooring, window, and home improvement businesses, along with wholesale businesses that offer multiple price levels or volume discounts on their products.

In this example, we set the contract price rule to apply to the CONTRACTOR category, when they purchase items on A/R (accounts receivable) and have a minimum credit rating of A. The second screenshot shows two line items, which are two rules for this group. When a contractor purchases 10 units, they qualify for a 10% discount on all items. If they purchase 20 units of any product, they get 15% off.

It’s important to note, we can also control if the rule applies to a specific category of items, or a specific item. In addition, how you stack the rules is also important. For example, if you wanted 10% discount applied to the first 10 units purchased, followed by a 15% discount on the next 10, this is also doable. We’ll keep it simple for now, and our team is happy to show you more in-depth or complex price rule configurations in a live demo.

Conclusion

We’ve only showcased straightforward and simple price rules you can create in Counterpoint. We can confidently say when our system is equipped to handle any logic and complexity of rules you’d like to throw at it. Even if we run into any limitations, which is a rarity, we can customize or add-on to the foundational logic using SQL programming.

Want to see it in action, contact us at 888.881.1988 or visit our contact us page to inquire about a software demo.

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