Inventory Price Changes Using Inventory Pricing Menu

Using the inventory pricing menu to make inventory price changes

Inventory Price Changes: Screen 1

Open

You can mass update:

1. selling prices

2. minimum prices

3. maximum prices

4. market costs

5. price schedules

You can use beginning and ending ranges to limit items by:

1. Product Categories

2. Location Codes

3. Item Numbers

4. Misc. Fields 01-04

5. Item Type

6. Only Active Items

Answering Yes to “Save Current Prices Prior to New Calculations”:

• You will be prompted to enter a Price Schedule code to store the previous prices

• If you fill in one of the pricing fields with the information you wish to be on a price schedule, then you can move this information to the price schedule by using this option

• You might have updated the prices for January Fertilizer on Price Level 1. The February prices come in. Before updating the Price Level, you can move the January prices to the January Price Schedule. This allows you to keep history of prices.

• For more information on Price Schedules: click here to download a PDF webinar 2018-03_AGRIS_INV_Price_levels_and_Schedules.pdf

Inventory Price Changes: Screen 2

Open

On this screen, choose which price fields will be updated. The subsequent screens are identical if you choose options 1 through 5.

The Extended Price Update is used to update Selling Price 1, Selling Price 2, or both Selling Price 1 and Selling Price 2. There is another feature that allows to calculate the best price.

Note: Regular Price and Special Price are customizable fields. These may be called something else based on inventory setup in INV > Setup Information > Inventory Setup Options > 1. General Information, screen 2 of 4, selling price #1 and selling price #2

Example: Update Regular Price

1. When updating the price, the user indicates the “Calculation Base” and if the system should accumulate those costs from the item’s components (if it is a manufactured or formula item).

   1. (0) Zero: to start with base of zero

   2. (1) Average Cost: to start with the current average cost

   3. (2) Recent Cost: to start with the current recent cost

   4. (3) Market Cost: to start with the current market cost

   5. (4) Selling Price 1 (customizable title): to start with the current charge price

   6. (5) Selling Price 2 (customizable title): to start with the current cash price

2. The user then indicates a calculation type and amount that will be applied to the calculation base.

   1. (1) Plus Percent Markup: if the user wishes to enter a markup

      1. example: 5% markup on $100 is 100 * 1.05 = $105

   2. (2) Plus Percent Margin: if the user wishes to enter a margin calculation

      1. example: 5% margin on $100 is 100 / .95 = $105.26

   3. (3) Plus Dollar Amount: if the user wishes to enter a flat dollar amount

      1. example: $30.00 per ton margin

3. Decimal Positions: for rounding the final selling price calculation

4. Override Calculated Price: should the system display the newly calculated selling price and allow you to change that calculated price

   1. Note that if you are updating the selling price on 7,536 items, that will be 7,536 times <enter> will need pressed, at the very least, to accept the new price

5. Pricing Unit of Measure: if “Plus Dollar Amount” has been chosen as the calculation type, what UOM code is that dollar figure based upon?

   1. Note: blank = same as selling units

Written by A. Mueller, adapted and updated by S. Pykare