3 Ways to Set Up Komet to Komet Final Pricing
The level of automation that Komet to Komet offers is truly unprecedented! For wholesalers, one of the most interesting steps of this process involves the pricing as the system is able to calculate it automatically for each one of your K2K products based on a one-time setup of your landed cost components, but you also have the option to use price lists or even setting up pricing on the go.
First, remember that the importer’s price (the wholesaler’s cost) is affected by the markups and/or any price lists the importer may have associate to the wholesaler (as a customer). Also, if the importer has the Fuel Surcharge and Show FOB Price settings enabled for the wholesaler, the system will include the fuel surcharge in the cost.
Now, here’s a more detailed look at each one of these options wholesalers have when it comes to the final price. This is the pricing that will be displayed for your customers online.
Please keep in mind that this information is based on the assumption that the vendor is an importer and the customer company is a wholesaler.
Final Price Automatic Calculations
Being able to display your final price for your customers through the e-commerce is extremely important! You’ll want to make sure that the price that shows up online and on your Prebooks/Orders takes into account your margin, cost, etc. The initial setup process for Komet to Komet involves the configuration of each one of the components that ensure being able to automatically calculate final prices. During this process, we ensure the importer’s cost and your GPM % are properly setup in the system as they will all be taken into account to reflect the final retail price for your customers. Also, any existing customer markups (either positive or negative) will affect the final price calculated for Komet to Komet items being displayed through the e-commerce.
Note: If any additional surcharges must be taken into account, the system allows you to do so. Ask us how!
Price Lists for Final Prices
There is also an option to create price lists for all your K2K products. When you create price lists, you must associate them to your customers so that your sales team doesn’t have to worry about inputting a price; it just gets automatically populated into the system when a product is chosen. If you want to make sure you never lose profit for K2K products or if these items need to have specific pricing, you can create a price list so that the price that reflects is the one in the price list instead of the price usually calculated for these products. However, there will probably be no need for this as the system calculates pricing based on your company’s GPM and financial settings. Also, be sure to take into account that you, as the wholesaler, could lose money if the Price List information is lower than what the K2K final price should be.
Note: To be able to enable Price Lists for K2K pricing, contact us directly.
Inventory Price Setup for Final Prices
Aside from the two previous options, you can also insert final prices manually during the mapping process. Under the Inventory > Add Inventory > Available Items screen, you can change any of the pricing previously filled, either one by one or massively for any Komet to Komet products. This is available to allow wholesalers more flexibility when it comes to setting pricing for these particular products (also available for Vendor Availability items) but please note that these prices are not manageable through the Inventory > Pricing tab.
Although we have three different options to set your pricing for Komet to Komet items, we strongly suggest using the first one. The automatic calculation done by the system requires only a one-time setup and you can rest assured that it will always take into account all the necessary costs to accurately calculate your final price and never have to worry about it again.
Have any questions? We can walk you through the specifics of Komet to Komet Pricing!