A common practice for avoiding deadstocks is by running a Lifecycle Markdown. Konigle helps you to set up an automated lifecycle markdown sequence and measure the impact of such activity. Here is how to do it:
1. From your Konigle dashboard, go to the 'Prevent Dead Stock’ tool from the search bar.
2. Filter for the products to put on markdown sequence. You can specify whether to include the product if all conditions are met or if any conditions are met.
3. Configure markdown discount rules.
- For each rule you have to specify the percentage discount offered compared to the current selling price, duration of discount.
- You can also specify the minimum stock level in order to offer the discount. This is useful if you don’t want to offer higher discounts if the sale takes off after offering the first phase of discounts.
4. Set a price floor by defining a minimum profit margin.
5. Click Submit > Confirm to finalise the markdown scheduled.
6. Once the sequence is scheduled, you would be brought to the History tab to check all the markdown phases scheduled.
