Summary
Price tiers are used to group your items by some value measure, such as their cost, or price.
NOTE: This is not the same as tiered price breaks, aka matrix pricing, aka Item Level Price Breaks
This tier can then be used to stratify them for the purposes of setting order policies, service levels, and resulting safety stock targets. StockIQ Order Policy Settings Matrix
Step 1
You can configure up to 5 price tiers in StockIQ.
Set the number of tiers that you would like, then select the basis for the price tier calculation:
- Standard Cost - Price tiers are based on the standard cost for the item
- Standard Price - Price tiers are based on the standard price for the item
- Typical Order COGS - Price tiers are based on the typical order size COGS, which uses the "Typical Order Size" value (shown in the safety stock tab), multiplied by the item standard cost.
- Typical Order Revenue - Price tiers are based on the typical order size Revenue, which uses the "Typical Order Size" value (shown in the safety stock tab), multiplied by the item standard price.
Once you have configured these settings, set your break values for each tier, and click save.
Step 2
Now you need to turn on the Matrix by going to Global Order Policy Settings. Look for and select to Assign Order Policy 'By Price Tier'.
Step 3
Goto Admin> System configuration and setup the StockIQ Order Policy Settings Matrix
You will see multiple Order Policy Matrixes for which you can now update settings for each price tier. Clicking on each Price Tier it will ask you to create new settings starting with settings that are in the default <All>.
Step 4
Finally, a refresh must be run to apply all order policy settings and service levels to each price tier.
Troubleshooting
Price tiers are calculated with each refresh of StockIQ.