**1 – Relational Pricing – this option works for all products whose price varies primarily on the spot metal market prices. If we know the price of an item at two different metal market prices, then we can calculate a price ‘factor’ and extrapolate the price of an item based on the current metal market price. If you have a formula for the price change, then we can program the formula to automate pricing.
**2 – Cost Basis Component Pricing – this option allows you to provide a true component breakdown of an item, assign lot codes to gemstones, setting labors, metal labors, add-on pricing and more, and its tied to spot metal market prices like Relational Pricing. You this option if your products contain diamond and gemstones and if your inventory system does not have an auto pricing feature. By changing lot codes and labor costs in a table,the JewelCloud can auto update large product data sets with a few clicks of a mouse.
**3 – Data Sync – If your inventory system calculates the current price of items by any method, then you can auto or manually exports a data file to the JewelCloud and/or your website which is used to update the price of items already registered in the JewelCloud. This approach has the advantage that you need to manually load the full data set only one time and then you can use an automated export/import procedure to update the price and delivery times of those items.