Price Matching and Adjustment Procedures Explained Workflow
Establish a clear price matching policy to ensure competitive pricing. Outline procedures for identifying discrepancies in prices charged by competitors. Define timeframes for implementing adjustments to prevent loss of sales or revenue. Establish protocols for notification of customers affected by price changes. Document and communicate changes to staff and relevant stakeholders. Regularly review and update the procedure to maintain compliance with industry standards and internal policies.
Step 1: Receive Price Adjustment Request
Step 2: Fill Price Adjustment Checklist
Step 3: Save Price Adjustment Request Data
Step 4: Validate Product Details
Step 5: Create Task for Price Adjustment Review
Step 6: Update Data Entry with New Price Information
Step 7: Notify Customer of Price Adjustment Status
Step 8: Update Product Information in Database
Step 9: Conduct Quality Control Review
Step 10: Close Price Adjustment Request
Step 1: Receive Price Adjustment Request
Type: Send Email
Receive Price Adjustment Request This initial step involves reviewing and acknowledging the price adjustment request submitted by a client or internal stakeholder. The process commences with verifying the legitimacy of the request through authentication protocols and cross-checking against existing records to prevent unauthorized changes. A designated team member reviews the request for completeness, accuracy, and adherence to predefined policies and procedures. The evaluation considers factors such as pricing discrepancies, inventory levels, product variations, and market conditions. This step ensures that all stakeholders are notified of the impending price adjustment, allowing them to prepare accordingly. Any necessary clarification or additional information is sought at this stage to ensure a seamless transition into the subsequent workflow steps.
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