Retail Price Markdown and Discounting Process

Start of the Workflow/Process.

Retrieve current stock levels and product details from the Inventory Data Model to identify candidates for markdown.

Retrieve recent competitor price monitoring entries to benchmark against.

Execute formula: (Current Price - Target Price) / Current Price to determine the required discount depth.

Calculate the projected profit margin after the applied discount is subtracted from the cost of goods sold.

Sum the 'Revenue Loss' property across all selected product entries to understand the total impact on the bottom line.

Create a task for the Category Manager to review the proposed markdown values and margin impact.

Generate a new entry in the 'Markdown Proposals' data model containing the proposed prices, dates, and reasoning.

Create a task for the Finance Director to approve or reject the total aggregate revenue loss threshold.

Update the 'Current Price' field in the Product Data Model once the markdown proposal is approved.

Update the 'Promotion Status' field to 'Active' for the affected items in the Inventory Data Model.

Send an email to all store managers with the new price list and effective date.

Create a task for the Floor Staff to physically update price tags and signage in-store.

Create a report comparing sales velocity and margin before and after the discount period.

Delete the markdown proposal entry from the active queue once the promotion period has ended.

End of the Workflow/Process.