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When to Use Store-Based Pricing for Inventory

In the coming release of R2024 store-based pricing is available for inventory cost tracking. This blog explains when this feature may be used.

1. Site vs Store Pricing

Average pricing per item per site (or Site-Average Pricing) is the default used for inventory cost tracking. It works fine for most use cases.

  • For example, your inventory is managed in one warehouse (or store) or more warehouses (stores). Parts are not repaired and reused. 
  • Even if repair processes are managed, but all repairs are for asset inventory. The cost tracking for asset inventory is by asset regardless of stores.
  • Or, repair processes are managed for non-asset inventory, but there is requirement to pricing assets repaired and new differently.

Store-based pricing may be necessary if repair processes are managed with different pricing for new and repaired parts. 

  • For example, repaired parts are priced at a fraction of new parts when issued to work orders
  • This can be achieved in R2024 with store-average pricing (average pricing per item per store).
  • A repair store and new part store may be used each with own average pricing.

2. Store-Average Pricing

The settings to use store-average pricing for checkouts can be configured at site or system level.

  • A site's pricing setting takes precedence. Otherwise, the setting at EAM company is used if any
  • If none is defined, the default pricing is Site-Average pricing.
  • The Checkout Pricing is a dropdown field with the following values:
    • Default - Site-average pricing. An empty value is treated as default.
    • Store-Average – average pricing per item per store. 

3. Custom Store Pricing

A store may have a custom pricing for checkout. For instance, a project store may issue any parts it holds to work orders at 0 cost. Each store has a "Checkout Pricing" field. It is a dropdown with the following values:

  • Default – use Site/EAM company settings.
  • Custom – a custom pricing for checkout such as $0.
  • It is possible to set up custom pricing per item and store from store inventory (in site inventory form).

 4. Migration to Store-Average Pricing

Store-average pricing can be configured in bulk through excel upload.

  • Report: Inventory | Report | Store Inventory
  • This report may be exported, updated and upload back to Calem to initialize item store-average pricing.
  • The excel template can also be downloaded here: cmv_in_site_store.StorePrices.xls

 5. Menu for Store-Average Pricing

Convenience menu is available to set an item store-average pricing at site inventory and store inventory - see screenshots below.

Surfacing Step Conditions in Work Orders
How to Report a List of Items Checked Out

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