Price Factor Maintenance

From the DockMaster menu, select Inventory Management > Pricing > Price Factor Maintenance

Price Factors are used to calculate the Selling Price(s) or Vendor Cost on Parts in the Inventory File. Price Factor calculations are based on whether you want to increase or decrease a price or cost by a positive or negative percentage. !!Important!!: You must attach a Price Factor to a part(s) through the Inventory Maintenance program before any price/cost change calculations can occur.

Below is a list of common uses for Price Factors in DockMaster:

Calculate Selling Prices based on one of the other Selling Prices.
Example: You have entered Suggested List Price for all your parts in Selling Price 5; now you want to calculate your Retail Price as 10% below list.

Calculate Selling Prices based on Vendor Cost.
Example: You loaded a vendor price book and the price book only contained the vendor’s Cost.

Calculate Vendor Cost based on one of the Selling Prices.
Example: You loaded a vendor price book and the price book only contained the vendor’s List Price.

The programs that are used to calculate Selling Prices and Vendor Cost are:

Inventory Maintenance - You can apply a Price Factor to a single Part by pulling up the part in the Inventory Maintenance program and clicking the Apply Price Factor button.

Price Change Using Factor - This program allows you to calculate Price or Cost changes for multiple part numbers, multiple vendors, and/or multiple departments. Note: This process only calculates the new price or cost changes; it doesn’t update the Inventory File until you run the Update Inventory Price/Cost program.

Rules for Entering Percentages

All percentages should be entered in the format XX.XX. For example, 10.15% should be entered 10.15, 15% should be entered 15 or 15.00, etc.

Negative percentages should be entered with the negative sign ‘-‘ first. For example, -10.5, or -15.

Price Factor Creation and Maintenance

Price Factor ID - Enter a Price Factor ID. Up to 5 alphanumeric characters can be used to identify a price factor. To maintain an existing Price Factor, enter its Price Factor ID or press F6 to select from a List.

Cost as a % (+/-) over Key Price - Enter the Cost as a % (+/-) over the Key Price. Enter the percentage to be used to calculate a given Vendor’s Cost. An equal sign (=) indicates that the Vendor Cost is to remain unchanged. Enter an = sign if you are calculating selling prices based on another selling price. Note: The vendor cost on a part will only be affected if you are factoring by price. In other words, you can’t calculate a vendor cost change based on that same vendor’s cost.

Retail as a % (+/-) over Key Price - Enter the Retail price as a % (+/-) over the Key Price. Enter the percentage to be used to calculate the Retail Price of a part. An equal sign (=) indicates that the Retail price is to remain unchanged during a price change calculation.

Price 2 as a % (+/-) over Key Price - Enter Price 2 as a % (+/-) over Key Price. Enter the percentage to be used to calculate Selling Price 2 of a part. An equal sign (=) indicates that selling price 2 is to remain unchanged during a price change calculation.

Price 3 as a % (+/-) over Key Price - Enter Price 3 as a % (+/-) over the Key Price. Enter the percentage to be used to calculate the Selling Price 3 of a part. An equal sign (=) indicates that selling price 3 is to remain unchanged during a price change calculation.

Price 4 as a % (+/-) over Key Price - Enter Price 4 as a % (+/-) over the Key Price. Enter the percentage to be used to calculate the Selling Price 4 of a part. An equal sign (=) indicates that selling price 4 is to remain unchanged during a price change calculation.

Price 5 as a % (+/-) over Key Price - Enter Price 5 as a % (+/-) over the Key Price. Enter the percentage to be used to calculate the Selling Price 5 of a part. An equal sign (=) indicates that selling price 5 is to remain unchanged during a price change calculation.

Comments or Description of Factor - Enter Comments or Description of Factor. This description will print on a price factor listing report and should detail what the price factor is used for.

Click the Save button to save the Price Factor. Note: Once you create a Price Factor, you must attach the factor to a part through the Inventory Maintenance program.

Completing the Price Factor Process

The following steps should be performed to calculate price or cost changes using Price Factors.

Run the program Price Change Using Factor to calculate the price and cost changes. Note: This process only calculates the new price or cost changes; it doesn’t update the Inventory File until you run the Update Inventory Price/Cost program.

If desired, you can run a sample report using the Report Generator to view the calculated price/cost changes that will occur. Use the attributes called New Price 1, New Price 2, New Price 3, New Price 4, New Price 5, Cost Change, Effective Price (effective price date), Effective Cost (effective cost date).

Run the program Update Inventory Price/Cost to update the Inventory File with the calculated changes.