Price Settings - Inventory Aging

Price Settings - Inventory Aging

Inventory Aging

Inventory aging is used when you want to discount products that aren’t sold after a set period of time. It is used to increase the likelihood they are sold and are not forgotten. 

You can set date ranges for items to start and end a particular discount. 
For example, if you want items to go on sale if they are not sold after 30 days, you might set the first range from 30 days to 60 days with a discount of 10%. 
If they are not sold by the end of the 60 days, you might set the second range from 61 days to 90 days. And so on. 

Note: If items are outside of any range, they won't be affected. 

If the Item Markdown is not checked, items will not be affected by the the Inventory Aging schedule. 

If you would like all products in a particular category to be set to auto-markdown without having to manually check the box when creating a new item, refer to this article. 

Alert
For store owners who are setting up their store for the first time: 

*If you are not 100% certain of the date you will open and/or the date that you would like the items to begin the Inventory Aging process, you should not push your items to Live. In this case, you should Save for Later and the Push to Live the day before you would like the Inventory Aging schedule to begin. See this article for more information. 

*If you only want some items to automatically be discounted in a particular category, refer to this article.

Global Settings - Expiration Date

When would you like the items to start aging? You can select from the two options below: 

Created Date: Create Date is the date that an item is entered and saved in Aravenda. 

Uploaded Date: Uploaded date is when an item is published as live on the sales channels. This means the item has been "Saved for Later". To learn how to Save for Later and Push to Shopify, check out this article.


To add Inventory Aging ranges,

1. A. Click Store Settings.
    B. Click Price Settings.
    C. Click Add New.



2. A. Enter the Start Day - Depending on the global setting, this is the number of days from the Created Date or Uploaded Date that you would like the sale to begin. 
For example, if you want your inventory to be discounted if they are not sold after 30 days, enter '31' since the discount will be applied from the 31st day.  

B. Enter the “End Day” that you want the item to be marked down (or if you will only have one discount, for the item to be taken off the floor to be expired or donated).

C. Enter the discount that will be applied for the period entered. 

D. After your items have been discounted to the limit that you choose, you can set up a rule to have your items become expired or donated.
To mark items as expired or donated, enter the final range you would like the item to show as expired as donated, and select the Set as Out of Stock box as shown in the screenshot below - the item will show as expired once the create or upload date goes past the Start Day of this rule. 
See below for more information. 

E. Click Submit.




You can set an expired item as store owned if you select the checkbox under the Store Owned section. This way, once an item expires, it will automatically designate the item to be property of the store and no longer owned by the consignor. 




Other Things to Keep in Mind

*The Inventory Aging rules apply to all products that fall within the set timeframes. This includes older products. 

*If Auto Markdown is deselected on an item after the item was discounted, it will continue to be discounted according to the ranges that it aged, however, future discounts will not be applied. 

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