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Setting up Prices for Your Future Sales Products
Originally published Tuesday, Dec 12, 2017
We have talked about Future Sales and the importance of using this feature as an allied in the industry. However, there is a main fact that is waiting to get the right attention: pricing. Do you know how to establish it correctly according to your business operations? To answer this question, let’s start talking about Future Sales, just to give you a complete picture of this feature.
Future Sales allows you to sell inventory in transit to all your customers through different channels, but that’s not all, it also integrates your sales and procurement departments, making every process simpler than ever. Also, this feature gives your sales team the tools needed to sell the products once the Purchase Order has been confirmed.
Now we described some of the benefits this feature provides you, it is time to talk about the Final Price Behavior setting for Future Sales, helping you to answer the question we mentioned at the beginning of this blog.
Final Price Behavior
This setting is the one that helps you to establish the price that products from Future Sales orders should have when they are transferred into the Inventory. Knowing that, maybe you are thinking that every company operates differently in the industry, and that’s correct! Komet Sales, always keep in mind that fact, so you have two options to assign the price to Future Sales products:
Get a New Price Based on the Landed Cost and GPM: If your procurement team generates POs in advanced (two, three or more weeks prior) this one is for you. As you might know, the freight and other financial components can vary in the future and you need those aspects to be considered along with the price. Using this option, the system re-calculates the price based on the updated landed cost and GPM, once the products are confirmed into the Inventory from the Staging Area.
Important Detail: Modifying the price within the future inventory pricing screen updates the price on the Purchase Order automatically.
Maintain the Sales Price Specified in the Purchase Order or Future Inventory Pricing Screen: You can select this option if your procurement team generates POs for shorter periods of time (less than a week). In this case, the system calculates the price based on the landed cost and GPM, once the products are confirmed into the Inventory from the Staging Area.
Important Detail: Modifying the price within the future inventory pricing screen updates the price on the Purchase Order automatically.
Note: The difference between these two options is the number of days in advance that Future Sales products are ordered and whether or not the price is maintained once transferred over to the inventory.
Two options that ensure you can have the correct price to sell these items to your customers! Don’t worry about losing money for Future Sales products and start selling in an unprecedented way. If you are interested in this feature and want to know more, watch our webinar and learn all the benefits and how to use it.
