Keeping track of material price increases

You might consider putting the Cost Method of those types of parts to
"LAST". The rationale is that is at least the price you would have to pay
to replenish the stock. Accounting usually sets a policy of Average or
Standard but in Vantage, it's a part by part decision. Depending on how
sophisticated your Accounting Dept. is you can do some clever things with
the Part Class & the GL #s that it refers to.



We use "Average" since our parts tend to creep up gradually. We have
dashboards that track purchase history for certain parts and classes.



Bob Carlson

bcarlson@...



From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf Of
cooner_55421
Sent: Wednesday, January 12, 2011 2:44 PM
To: vantage@yahoogroups.com
Subject: [Vantage] Keeping track of material price increases





Hi,

Wondering how others are tracking the prices of purchased materials as they
fluctuate?
And if you do... are you using the information for adjusting your selling
prices? Or on SO quotes?

Resources have been traditionally limited in my environment. Getting new
quotes from vendors is not always practical, especially on large system
orders. An assemblies that is being quoted, might be composed of parts from
1000+ jobs and involve 100's of purchased materials.
Sometimes a best guess is used to set the selling price.
It is based on the last similar system.
But, the last similar system may have been built 2 years ago.
Up side, we get a sale because we quoted in a timely manner.
Down side...
Cost accounting might find the margins aren't "so good"... a month after the
order ships.

Thanks





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