Price Deviations are used to achieve the desired price supplement between inventories within an Inventory Group.
Price deviations play a strategic role in optimizing pricing models and maintaining system integrity, ensuring that inventory groups function cohesively within the pricing framework.
You can edit the deviations within Inventory Groups in the Default Price Settings tab at any time. Check out more information on Inventory Groups here.
Additionally, ensure that inventory groups are arranged in ascending order of price, with the parent inventory set at 0 deviation to maintain system integrity.
Best Practices for Setting Up Inventory Groups and Deviations
Setting up inventory groups and deviations correctly is crucial for maintaining system integrity and optimizing pricing models. Always set the parent inventory at 0 deviation, arrange inventory groups from the lowest to the highest price category, and avoid using negative deviations to ensure optimal pricing performance.
1. Open the Price Controls drawer from the Configuration Center
Click on the bottom-left cog wheel
2. Click on Inventory Settings
3. Expand the relevant Inventory Group
Expand an Inventory Group by clicking on the arrow to the left of the group to reveal any inventories within the Inventory Group.
This will also show the Price Deviations setup for the Inventories.
4. Edit the Price Deviations
Hover over the Price Deviation column for a specific Inventory within an Inventory Group and an outline for the field will appear.
You can edit both the value as well as the type of deviation (absolute i.e. currency value or percentage) for each child inventory.
Note: It is recommended to not setup any negative deviations, but instead build the other deviations up from the lowest one at 0.
Setting the parent inventory at 0 deviation is crucial for ensuring the pricing model functions correctly. Arrange inventory groups in ascending price order, with positive deviations for all other inventories, to optimize pricing performance.
4. Save the changes
Once you are happy with the updated Price Deviations, press Save & Process Changes in the bottom right of the drawer.
You will then be prompted to re-sync all current Prices. This will ensure that all of your changes are immediately implemented. As a best practice, we recommend to confirm this every time you make a change to a Group.
After making changes, it is recommended to review pricing recommendations following the next optimization update to ensure they align with your intended setup.
Please do get in touch with the team via the chat if you have any further questions, or would like advice on how best to setup your inventories.
For more details on managing your Inventory Groups, check out this article.