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Omnichannel Price Management Platform for Gold Distribution

stratoflow.com

Retail

Financial services

eCommerce

Price Discrepancies and Margin Risk

GoldSource Corp, a physical gold distributor, faces challenges with maintaining accurate and consistent pricing across its various sales channels (ecommerce websites, physical stores). Intraday price fluctuations in gold markets, coupled with delays in price updates, lead to potential mispricing events and margin losses. The lack of a centralized, real-time price management system hinders their ability to effectively manage their omnichannel revenue stream.

About the Client

A physical gold distribution company expanding its online presence and aiming for real-time price control across multiple sales channels.

Key Project Objectives

Implement a real-time price distribution system.
Automate price updates based on market feeds and predefined rules.
Maintain accurate margin control across all sales channels.
Reduce mispricing events and eliminate human errors in price setting.
Enable flexible price configuration based on product, channel, and market conditions.
Expand into new sales channels efficiently.

Functional Requirements

Real-time price feed integration from LME and distributor listings.
Automated price recalculation based on base price, product type, and channel.
Dynamic margin configuration (static and rule-based).
Price Control and Monitoring Portal for configuration and reporting.
Multi-channel price distribution (on-premise websites, cloud ecommerce platforms).
Historical price tracking and reporting.
Alerting system for significant price changes or margin deviations.

Preferred Technologies

Mule Runtime

Real-time pricing engine

API integrations

Integrations Required

London Metal Exchange (LME) API
Distributor price feed APIs
Ecommerce platform APIs (e.g., Shopify, Magento)
On-premise store website systems

Key Non-Functional Requirements

High performance and low latency for real-time price updates.
Scalability to support future growth in sales channels and data volume.
High availability and reliability to ensure continuous price distribution.
Secure data handling and access controls.
Audit trails for price changes and configurations.

Expected Business Impact

Implementation of this platform will enable GoldSource Corp to significantly increase market share by providing accurate and competitive pricing across all sales channels. Real-time price control will minimize margin losses due to mispricing, improve operational efficiency, and establish a strong omnichannel revenue management system. The centralized portal will empower GoldSource to effectively manage their pricing strategy and respond quickly to market changes.