Abel Pricing tracks every item that can be bought, sold, expensed, used or manufactured so all business processes are costed in real time.
Highly flexible across multiple currencies, it provides complete cost summaries across any group of items so you can accurately derive buying and selling prices.
It is essential that ERP computer systems have very flexible pricing capabilities which can be used to develop sophisticated pricing strategies. Abel provides a best of breed pricing arrangement. This ensures that documents are priced correctly, consumption is costed correctly, the warehouse values are accurate and the accounts are an accurate representation of movements and balances.
Abel provides pricing on every item that can be purchased, sold, expensed, used or manufactured. This is not only against inventory items, but includes expenses, recharges, machine and labor recoveries, employee and labor code pricing, in fact any group of items that the user chooses to purchase, consume, manufacture or sell.
Abel’s pricing can be exported and imported from spreadsheets if the organization requires, with pricing history maintained against each pricing line. Future pricing can be established ahead of time which incorporates price promotions with automatic reverts.
All Abel pricing lines are held by unit of measure and currency. Where specific pricing is not provided, unit size and currency conversion will occur as required. Quantity breaks are also provided for all customer and supplier price types. Buying and selling prices can be used to derive each other. For example, a selling price can be derived by marking up a cost or purchase price by a fixed amount and or percentage.
Where it is appropriate to begin price established from a base price, then mark up or mark down to establish other pricing scenarios, a base price line can be created for this purpose. Like all other prices, the user can create multiple base prices according to unit size and currency. Unit size and currency conversion will occur as required.
Supplier or cost prices are held as base or standard costs, branch or branch standard costs, or supplier specific costs. Cost prices can be derived from base pricing, standard costs or selling prices and marked up or down accordingly. Like all other prices, the user can create multiple cost price lines according to unit size and currency with conversion as required. Eight levels of quantity break discounting is provided, which can also be used to determine graded product pricing. Cost prices can also be calculated from multi-level Bill of Materials which is attached to an inventory item.
Customer or sales prices are held as base prices, branch prices, customer prices and customer category prices. Sales prices can be derived from base pricing, cost pricing, or lower level sales prices. For example, a selling price could begin with a branch sales price and mark it up or down according to the customers category. Sales prices are also held by unit size and currency with conversion as required. Quantity break discounting is provided which incorporates customer level pricing and specific customer item level pricing. Customer discount percentages and gross margin percentage is also available by providing a price level matrix for item categories or for individual items on each customer. You can set Consignment Stock selling prices (for general use) and also customer-specific prices for consignment stock if required. Abel also offers a price override for sales promotions that will temporarily override all other ‘sell’ pricing, including customer specific pricing.
In addition to the standard base, cost or sales pricing, prices can also be specified for:
- Rental Items – setup is identical to sales items except the unit of measure specifies the time horizon. For example, week or month.
- Replacement Items – replacement pricing is configured the same as sales items but is driven by different line types on sales documents.
- Labor and Machine times – different price lines are provided for setup, clean and run time with the unit of measure always being hours. Where setup or clean is not specifically provided the recovery rate used will default to the runtime price. Price lines are available as a base, a branch, a supplier or as a selling price to on-charge to a customer for time and materials usage.
- Transfer Pricing – Transfer pricing incorporates the pricing rules for both cost and sales pricing. This allows items to be transferred from one warehouse to another at stock, or standard values or to incorporate a profit handling or freight margin collected by the supplying warehouse. This is frequently used when transferring stock between one company and another.
- Service and Assembly Pricing – these costs can be used as standard costings for particular quoted repairs, services or assembly. These prices attract all rules from cost based pricing.