If a supplier provides recommended retail prices (RRPs) to Minfos, you will be able to create a price policy for the relevant supplier’s products. The timely application of available RRP changes can result in your store maintaining a higher gross profit by selling related items at the higher price prior to invoicing these products into the store at a higher cost.

Note: RRPs are not available in every supplier's MNPN update that you collect from Minfos. To find out whether RRPs are available for a specific supplier, please refer to Direct Suppliers maintained by Minfos.

Steps to complete this procedure

  1. Create an RRP price policy
  2. Collect the relevant supplier's MNPN update
  3. Add the relevant products to the price policy
  4. Check and accept price changes
  5. Adding products to an existing price policy

Step 1: Create an RRP price policy

From Stock Manager:

1. Click the Pricing menu.

2. Click 2. Policy Maintenance.

The Price Policy Maintenance window is displayed.


3. Click Add.

The Price Policy Entry window is displayed.

4. Make a note of the policy number displayed in the Policy Number text box, as you will need this information later.

5. In the Policy Name text box, enter a description of the new price policy; for example, "Revlon RRP policy".

6. Click the Policy Type drop-down, and select Mark up on Wholesaler Retail Price from the list.

7. Click Okay, to save your price policy.

8. Click Cancel, to close the Price Policy Entry window or repeat Steps 3 to 7 to continue to adding price polices.

9. Click Cancel, to close the Price Policy Maintenance window.


Step 2: Collect the relevant supplier's MNPN update

From Stock Manager:

1. Click the File menu and select 9. MNPN Updates.

2. Click 1. Supplier MNPN Updates.

The Manage Supplier MNPN Updates window is displayed.

3. If the supplier has previously been added to the list;

A. Highlight the supplier and click Change to check the update options.

B. The Supplier MNPN Update Configuration window is displayed.

C. Update any required details and click OK to save and close.

D. Click Apply Update. This will ensure the most up to date RRP’s are in the database.

The Apply Update prompt is displayed.

E. Click Yes to continue.

Once the update has processed, the Supplier File Update window is displayed.

F. Click OK to close.

The details of the last import are displayed in the last run information box. Make a note of the Supplier Code, as this is needed later.

4. If the supplier is not in the Manage Supplier MNPN Updates window.

A. Click Add.

The Supplier MNPN Update Configuration Add window is displayed.


B. In the Supplier text box, enter the suppliers name and press [TAB].

The Supplier Search Window is displayed.

C. Highlight the correct supplier and click Okay.

D. Make the required changes, e.g. change to an Automatic Update and check the relevant checkboxes.

E. Click OK.

F. Ensure the correct supplier is highlighted and click Apply Update.

The Apply Update prompt is displayed.

G. Click Yes to continue.

H. Click OK to close.

The details of the last import are displayed in the last run information box. Make a note of the Supplier Code, as this is needed later.

 5. Click Cancel to close the Manage Supplier MNPN Updates window or repeat the above for other relevant suppliers.


Step 3: Add the relevant supplier products to your price policy 

From Minfos Stock Manager:

1. Click the Products menu.

2. Click 5. Product Quick Fix.

The Product Quick Fix Options window is displayed.

3. Click the Sort list by drop-down list, and select Supplier.

4. In the Code text box, enter the relevant supplier's name or supplier code, and press [Tab].
The Supplier Search window is displayed.

5. Highlight the required supplier, and click Okay.

6. Starting Name: If the supplier keeps a range of differently named products (e.g. Loreal Australia Pty Ltd; Garnier, LRL, MAYB) enter the first few letters of the product range. This field can also be left blank.

7. Click the Quick Fix drop-down list, and click Price Policy.

8. Click Okay.

9. The Product Quick Price Policies Fix window is displayed.

10. Highlight the products that need to be fixed.

Note: To select several individual items, hold down [Ctrl] as you click the items. To select a group of items, click the first product and hold down [Shift] and click the last product of the group.


11. Click Fix.

The Quick Fix Selection window is displayed.

12. In the text box, enter the policy name or policy code, and press [Tab].
The Pricing Policy Search window is displayed.

13. Click the required price policy, and click Okay.
Your price policy selection populates the Selection window text boxes.

 

14. Click Okay, to apply the selected price policy to the selected product(s).

15. Click Next to move to the next window of products and repeat steps 9 to 14 for all products.

16. Click Cancel to close the Product Quick Fix window.


Step 4: Check and accept price changes

You should check/price/clear your Price Changes report before accepting any price changes. Please refer to Print labels for retail price changes for more information.

From Minfos Stock Manager:

1. Click the Pricing menu.

2. Click 1. Price Maintenance.

The Product Price Policy Options window is displayed.

3. Click the Sort list by dropdown list and select Price Policy or Supplier(preferred).

4. In the Code text box, enter the name relevant to the category selected; if you selected; e.g. enter the Revlon supplier code or name or enter the name or code of the Revlon price policy added in Step 1.

5. In the Starting Name text box, enter the first letter or the name of the first product from which you want to review the prices.

For example, if you stock Revlon cosmetics but do not stock Almay cosmetics, you could enter R in this text box to skip all of the supplier products with descriptions starting with the letters A to P.

6. Check the Stocked Only check box, if you only require price changes for items that are currently marked as stocked (Re-order) in your database.

7. Click Okay.

The Wholesaler Price Maintenance window is displayed. All products that require price changes are highlighted in blue. 

Note: Do not click Accept All. This will update the products current Retail Price with the New Prc for ALL products in the Price Policy. It is recommended one page at a time is Accepted.

The Curr Prc is the products current retail price and the New Prc is the Recommended Retail Price.

8. Review the New Prc column and highlight the products that require a price change.

Note: To select several individual items, hold down [Ctrl] as you click the items. To select a group of items, click the first item and hold down [Shift] and click the last item of the group.

9. Click Accept, to update the retail prices.

The Accept Product Price Changes prompt is displayed.

10. Click Yes to confirm the new retail prices.

11. Click Next to move to the next page of products.

Repeat steps 8, 9 and 10 until all pages of price changes have been accepted.

12. Follow instructions in Print labels for retail price changes to print or clear labels as required.


Step 5: Add new products to an existing price policy

There are a number of ways to add products to an existing price policy.

Ideally, updates to a supplier RRP price policy should be followed by a full RRP price policy price review.

Add products to a price policy from Order Maintenance

1. Products can be edited from the Order Editing window.

2. Highlight the product and click Edit.

The Product Edit window is displayed.

3. Click the Categories tab.


4. Update the price policy text box to the corresponding RRP price policy

5. Click OK to save and close.

Or

1. Navigate to the Order Pricing window - from this window you can see what price policy the product is currently in.

2. Highlight the product and click Edit Prod.


3. The Product Edit window is displayed.

4. Click the Categories tab.

5. Update the price policy text box to the corresponding RRP price policy.

6. Click OK to save and close.

Add products to a price policy from Product Maintenance

1. From Product Maintenance, click Find.

The Search window is displayed.

2. Scan the product, enter the Name, Product number or /PDE (e.g./7218773070)

3. Highlight the product and click Change.

The Product Edit window is displayed.

4. Click the Categories tab.

  5. Update the price policy text box to the corresponding RRP price policy.

6. Click OK to save and close.