gennyr

Spring Cleaning - Part 1

Blog Post created by gennyr Employee on Mar 7, 2018

I know that Spring doesn’t technically start until March 20th, but it never hurts to get a jump on your Spring Cleaning, right? Now that we’re fresh into the new year, a lot of folks have been taking a closer look at their settings, scoping out areas to optimize and making strategy changes. With that comes settings and rules that may no longer be in use but are still there, cluttering up the screens. So I want to take a deeper dive into some areas in the software that may be storing settings from days gone by, starting with your pricing rules and strategies.

 

Inventory Pricing

Over the years I’ve helped a lot of sellers structure their pricing rules (via the Settings tab -> Inventory Pricing). I usually ask the user to give me a rundown of their intentions with their rules, what certain classifications in the inventory groups represent, etc. A lot of times I hear something along the lines of “Oh that was something we used in the past but it’s not even relevant anymore - we can take that out.” Perhaps they’ve cleared out all of the inventory from a particular supplier referenced in the rule, or at one point they added all new rules but decided to leave the old ones in place at the bottom. If a rule is no longer being used, I usually recommend deleting it.

 

If you’ve thought the same thing as you’ve looked through some of your own rules, you might consider evaluating them for removal. I wouldn’t want you to remove anything that could still be in use, so you want to be very careful as you do this. If the rule that you’re evaluating for deletion has Classifications in the inventory group, make sure you understand why those classifications were used. It doesn’t hurt to do a quick filter on the My Inventory tab (criteria: Quantity greater than 0, Classification equals [the classification name]). Be sure that “All” is selected for the category at the top. If this brings back inventory, the removal of those pricing rules could very well impact the prices of those SKUs on the marketplaces. Just remember that when it comes to repricing, Monsoon is evaluating any given SKU starting with the pricing rule at the top of the list. Monsoon works its way down the list until the SKU meets the criteria of an inventory group, reprices it accordingly and then moves on to the next SKU. So you’ll want to make sure that your remaining pricing rules are prioritized correctly and that you understand how your items will reprice moving forward. Don’t delete a rule if you’re unsure.

 

Custom Strategies

Another area that could likely use some sprucing up is your custom pricing strategies screen (Settings tab -> Custom Strategies). Odds are that you have a pricing strategy in there that is not applied to any of your pricing rules on the Inventory Pricing screen. You can easily check this by clicking back and forth between the two screens to see which strategies are applied to your rules. But just because you aren’t using a strategy in a pricing rule, that doesn’t mean that you don’t have it applied at the item level on one of your SKUs. You can filter on the My Inventory tab (Quantity greater than 0, Pricing Strategy equals [the custom strategy name]) to see if any of your items have the strategy set at the item level. Again, make sure “All” is selected for the category at the top. If you find that the strategy isn’t in use and you don’t think you’ll need it down the road, consider deleting it.

 

Cleaning up these areas can help you move through the information faster, with less scrolling and squinting to find what you’re looking for. It also has the added benefit of making it easier for others to understand, such as our Support team. You may at some point need their help in understanding the pricing behavior of a SKU, so fewer rules and strategies can help expedite those investigations.

 

See Spring Cleaning Part 2 - Classifications and Smart Classifications

See Spring Cleaning Part 3 - Culling your inventory

Outcomes