What is price fixing in SAP IS-R - SAP for Retail?

SAP Term: price fixing

• Component: IS-R

• Component Name: SAP for Retail

• Description: Retail Control mechanism to restrict changes to the resale price of a product. This can take the form of either a recommended retail price or fixed prices. Price fixing information is stored in the SAP system. When a sales price is re-calculated, for example, the system indicates to the buyer that a price fixing agreement exists.

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• Key Concepts: 
  Price fixing is a feature of the IS-R SAP for Retail component that allows retailers to set prices for their products. This feature allows retailers to control the prices of their products and ensure that they are competitive in the market. It also helps retailers to manage their margins and profits. 
  
  How to use it: 
  To use the price fixing feature, retailers must first set up a pricing strategy. This involves setting up rules and parameters for how prices should be determined. Once the pricing strategy is set up, retailers can then use the price fixing feature to set prices for their products. The prices can be adjusted at any time, allowing retailers to stay competitive in the market. 
  
  Tips & Tricks: 
  When setting up a pricing strategy, it is important to consider factors such as market conditions, customer demand, and competitor prices. This will help ensure that the prices are competitive and profitable. Additionally, it is important to regularly review and adjust the pricing strategy as needed in order to stay competitive in the market. 
  
  Related Information: 
  The IS-R SAP for Retail component also includes features such as inventory management, customer loyalty programs, and sales analytics. These features can help retailers better manage their business and stay competitive in the market. Additionally, there are many resources available online that provide more information about using the IS-R SAP for Retail component.