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

SAP Term: price planning

• Component: IS-R

• Component Name: SAP for Retail

• Description: Retail Application with which you plan price changes while taking into account budgets für sales deductions. You use price planning as part of rule-based markdown controlling for processing of markdown proposals, in retail promotions for defining promotion prices, and for simple manual price changes. The central tool of price planning is the Price Planning Workbench in which you process price plans for the new sales prices. Price planning also includes functions for automatic creation of conditions for price plans, for budget management and update, for management of markdown proposals, and for administration of user authorizations.

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• Key Concepts: 
  Price planning in IS-R SAP for Retail is a tool that allows retailers to plan and manage prices for their products. It enables retailers to set prices based on various criteria such as customer segment, product category, and seasonality. The tool also allows retailers to adjust prices in real-time based on market conditions. 
  
  How to use it: 
  To use price planning in IS-R SAP for Retail, retailers must first define the criteria they want to use to set prices. This includes setting up customer segments, product categories, and seasonal pricing. Once the criteria are set, retailers can then enter the desired prices for each item. The tool will then automatically adjust the prices based on the criteria set. 
  
  Tips & Tricks: 
  When setting up price planning in IS-R SAP for Retail, it is important to consider the customer segment and product category when setting prices. This will ensure that the prices are competitive and attractive to customers. Additionally, it is important to monitor market conditions and adjust prices accordingly in order to remain competitive. 
  
  Related Information: 
  For more information about price planning in IS-R SAP for Retail, please visit the official SAP website at https://www.sap.com/products/is-r-sap-for-retail.html. Additionally, there are many online resources available that provide tips and tricks for using price planning in IS-R SAP for Retail.