Custom report showing price change trends on items by vendor.
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Overview | Samples | Variables | Alert Functionality | OnDemand Report Filters | Best Practices & Tips | Related Alerts |
Overview
Overview
Are your vendors slowly raising prices, and not making you aware?
Did you negotiate a great deal, and then discover your purchasing department is paying more?
If a vendor raises an items price by a couple of dollars, an administrator will typically just put in the new invoiced price which will automatically update the preferred item price. Small price changes are often not seen by your staff as significant, but several incremental changes can have a serious overall effect.
ID518 is a report you run on demand, that will show trends on price changes by vendors.
**Please be aware that the report assumes that your items have both a Service Code and Sales Code assigned. Items without both of these will not populate on the report.
Run Schedule: On demand
Type of Output: On-Demand Custom Report
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Sample
Sample
1. The receipt amount on the PO.
2. Price entered on invoice.
3. Shows the difference, increase (or decrease) for that purchase.
4. Reports the total of all increases in costs for the date range for that item.
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Variables
Variables
This alert has no variables.
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Alert Functionality
Alert Functionality
1. The report logic assumes all items have both a service code and a sales code set on the item record:
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OnDemand Report Filters
On-Demand Report Filters
Available filter options: narrow down by certain vendors, items, date range, if needed.
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Best Practices & Tips
Best Practices & Tips
We recommend a periodic review of the report to check for price increases.
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Related Alerts
Related Alerts
ID613 - Vendor Cost Variance between Purchase Order Receipt and Purchase Order Voucher
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