Price Hosting
The Midax vision is to provide retailers with effective access to information that can be used to directly impact their bottom line. The core of any retail business is always the accurate maintenance surrounding item cost and retails.
This includes.
- Date driven maintenance of all retails and costs. This includes all allowance and deals which apply.
- Competitive pricing and forcasting, combining self accumulated data as well as data from outside sources. Fully parameter and rules based it is at the core of the application.
- Ad planning and management tailored to today’s business environment with daily and weekly reporting
- Easy to use desktop interface for fast data entry and ease of use.
The Midax Hosting pricing system helps retailers pro-actively manage the single greatest area of profit improvement opportunity: Price management and margin growth.
Sample screenshots
Midax Hosting is an integrated suite of pricing applications designed to provide Category Managers the pricing tools to plan and manage their pricing and promotion activity. Midax Hosting is the "Best-of-Breed" strategy based solution, for effective strategic price management. Any retailer, regardless of size, can now manage margin growth utilizing the intuitive graphical user interface.
Midax clients have at their finger tips up-to-date product information, useful not only for day-to-day operations, but also information that can be used to make strategic decisions about their stores' product and price image and to maximize profitability through intelligent decisions based on price point historical information
Wholesalers can provide expanded pricing services for their retail customers. Store management or owners can become involved in the price planning process for their specific stores. It provides the capability to enter price plans, review new prices, edit and approve them, monitor the results of pricing decisions, and model considered adjustments. Any user's capabilities are subject to system security authorizations.
Pricing tools in the Midax Hosting suite are:
Product Management
Midax Hosting provides a complete product data warehouse, including data elements that can be different among stores, or POS systems. This facilitates centralized product management for the entire enterprise. The hierarchical, item structure, provides unparalleled ease of access. Mass maintenance, zoning capabilities and cloning, are effective maintenance functions.
Combine this feature with the reporting facilities on actual transactions in the Midax Data Warehouse to create a product maintenance strategy for the entire enterprise in one single location.
Import Services
Midax Hosting includes manual and electronic import utilities providing for entry or import of cost, price, promotion and item information.
Competitive Price Analysis
Analyze your competitive position for items or groups of items by store or groups of stores. Adjust strategies and model competitive response. Gain insights into how competitors will respond to your anticipated price changes.
Price Modeling
By modeling prices using historical data for each item, and factors such as elasticity, the effects on margin and profitability resulting from different price strategies, can be analyzed and projected. Pricing strategies can be continually refined to ensure that the maximum possible profit is obtained from each sale. The modeler will provide invaluable insight in understanding the consumer's price sensitivity for each product.
Pricing Analytics
Monitor the results of pricing decisions. Drill down to quickly see results at any level in the pricing hierarchy. (Store, department, category, sub-category etc.)
Hosting
A number of hosting formats are available to support a variety of store systems. User defined batching of maintenance enables store level workflow.
Margin Growth
Margin growth can now be effectively managed by any retailer, regardless of size. And Midax Hosting utilizes a user-friendly, graphical interface. In addition, wholesalers can use the Midax Hosting solution to provide expanded pricing services to their retail customers.
The Midax Hosting solution provides the foundation on which pricing tools can be configured to meet both current and future price management requirements.
Features and Business benefits include:
Margin Recovery
Automates price control over thousands of typically neglected items - eliminating margin erosion and recovering a quarter point or more of lost margin. Watches your entire database and applies rules to maintain your retail and cost structure across the entire file not just selected items.
Improved performance
Allows category managers to increase focus on priority items and strategy effectiveness by automating routine price changes.
Ad Simulation
Simulate market response to planned ads; understand the effects of lift, cannibalization and market response.
Easily Integrated
Interfaces with legacy applications as other retail and ERP applications and runs on all popular operating systems and database management systems.
Midax services include the integration with POS and scales and the migration of data from legacy systems into the Midax environment
