Price Bounds Tour

Have you considered safety limits for your strategy?

Step 3: Configure Bounds for Repricing of Chosen SKUs
: This step allows you to set floor and ceiling prices as an added measure of safety. These will supersede your price recommendations from Step 2, making sure that your price is always within an acceptable range. Your upper and lower bounds will dictate the lines your prices do not cross, acting as both Minimum & Maximum Prices.

A common lower bound is the Minimum Price. A common upper bound is a Maximum price. However, your options are not limited there. The same product attributes that were available to you in Step 2 as you created your repricing rule, are available here for you to use to set your boundaries. Also, you can have multiple upper and lower bounds if you prefer. The strategy will always default to the most restrictive upper and lower price bound.

Adding a Bound
: You can add an upper or lower price bound by clicking either of the “Add” buttons in the window. Strategies do not have bounds by default, so you will have to add them if you want to restrict the amount that your prices can shift.


Creating a Bound: 
Creating a bound follows the same basic pattern as setting up IF-THEN-ELSE’s in Step 2 (see that article for more information). 


Using Multiple Bounds: 
Using multiple bounds will always result in the most restrictive bound being used so that none of your bounds are broken. For lower bounds, you will use the highest calculated value. For upper bounds, you will use the lowest calculated value.