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In this article you will learn about how pricing works in Komet Core according to each inventory type.
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Important information. |
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How Does Core Pricing Work?
Product prices can be defined by GPM and price Lists based on specific settings or the type of order: Standing Orders, Prebooks, Purchase Orders, etc. Depending on the inventory or order type, different rules can apply. In this article, you will learn the details of each type of inventory.
Open Market Inventory Pricing
Open Market products are in the warehouse and available for any customer for immediate shipping. The system will suggest a final price based on one of the following factors:
Standing Order, Prebook, or Purchase Order prices. When a price is assigned to a product in the original order, the system will use that price.
Price Lists. When a customer and product are linked to an active season within a specific price list, product pricing will be drawn from that list.
Prices in the Inventory Pricing screen. The prices suggested on this screen are calculated using the company’s GPM and the product’s Real Landed Cost.
Company and User Settings. Settings described below can impact the final price calculation.
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You can see the cost breakdown by hovering over the Landed Cost in the Inventory Pricing screen. |
Review and Manage Open Market Inventory
Whether you want to review your inventory, place products on hold, or modify their pricing, you can do it from the Pricing screen.
To access and manage your Open Market inventory, do the following instructions:
Go to Inventory and select Pricing.
Search the products or the order you want to see.
Set the price in the column and press Enter or change the product to save the updated price. You can set three different prices on this screen:
Price A. This is the default price within Komet, and it is displayed in the price A column on the pricing screens. It's calculated according to the product landed cost and the company's GPM.
Price B. This price is used for Default Type B Customers. Some customers might want to use it as an alternative price for some customers according to sales negotiations, or you can use it as a reference price for negotiations.
Web Price. The price the system will display in the E-Commerce.
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You can also make Mass Updates to this inventory by clicking on Mass Update. Just take into account that the update is based on the filters you use, so be sure to apply every filter you might need. |
Sell Fast Markup
The Automatic Sell Fast setting marks products in the Open Market Inventory with a lightning bolt icon after a determined product age so the sales team knows those items need to be sold as soon as possible. Additionally, you can set markups and discounts to promote these products.
If you want to learn more about the Sell Fast markup, go to Sell Fast Markup.
Sell by Units Options
When selling inventory in Units, you might want to automatically markup the price of products when users open boxes to sell in bunches.
To set the Unit Price Behavior, do the following instructions:
Go to Setup and select Settings.
Click on Sell by Units Options from the Order Entry group of settings.
Select the price behavior from the Unit price should: setting. There are two options:
Remain the same as the price of the unit within the opened box. If you select this option, you can add a markup in percentage that will be automatically applied to the units when opening a box.
Be changed to the price of the last same item that was added to the inventory.
Click on Save to store the changes.
Future Sales Inventory Pricing
The Future Sales inventory accounts for products that have been confirmed but not shipped by the vendor yet. Once the vendor adds the product to an AWB and confirms the shipment, products from the Future Sales inventory will appear in the Staging Area, where salespeople can review suggested prices or apply modifications as necessary.
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Best Practice! To have an accurate estimated landed cost and suggested price calculation, we recommend you do the following: |
Future Sales and Price Lists
If your company uses price lists, there is a way to apply these prices to
Future Sales products to get the suggested prices based on your list and not the company’s GPM or the purchase order price. The system will not use FOB price for Future Sales products regardless if the customer has this price enabled.
To use price lists for Future Sales products, do the following instructions:
Go to Setup and select Settings.
Click on Future Sales Settings from the Inventory group of settings.
Enable the Price Lists setting.
Click on Save.
Once you enable this setting, the system will suggest the price assigned in the Active Price List associated with the customer or take the price from the active Master Price List. If you want to learn more about price lists, read Using Price Lists.
Future Sales Final Price Behavior Setting
Before the grower ships your products, the system will display an estimated landed cost, and this cost may change on the ship date once the grower adds the products to an AWB. Therefore, there is a setting that enables you to keep the Purchase Order prices in the Staging Area once the grower ships the products. Alternatively, you can let the system recalculate and replace the estimated landed cost and update the suggested sales price using the Company’s GPM and the real landed cost. This behavior only affects products that have not been sold to a specific customer and will be going to the Open Market inventory.
To set the staging area price behavior for future sales products, do the following instructions:
Go to Setup and select Settings.
Click on Future Sales Settings from the Inventory group of settings.
On the Final Price Behavior setting, select the behavior you prefer:
Recalculate the price based on the real landed cost and the Company’s GPM.
Maintain the sales price set in the Purchase Order or in the Future Sales Inventory screen.
Click on Save to store the changes.
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If you want to learn more about landed cost, go to Landed Cost. |
Allocation Price Behavior
You can also configure the price behavior for Future Sales products that get allocated to Prebooks without a price.
To set the allocation price behavior for future sales products, do the following instructions:
Go to Setup and select Settings.
Click on Future Sales Settings from the Inventory group of settings.
On the Allocation Price Behavior setting, select the behavior you prefer:
Recalculate the price based on the real landed cost and the Company’s GPM.
Maintain the sales price set in the Purchase Order or in the Future Sales Inventory screen.
Click on Save to store the changes.
Price Reminder Setting
If you want to use the same price for Future Sales products once they arrive in the Staging Area as the products you have in the Open Market Inventory, you can enable a price reminder. The price reminder will use an existing or recent price from the same product in the Open Market and apply it to these products.
To enable and configure the price reminder feature, do the following instructions:
Go to Setup and select Settings.
Click on Price Reminder from the Inventory group of settings.
Check the box to enable the feature.
Optional: Set a time limit in days of the product from which the system will take the product price and apply it to future sales products.
Optional: Enable the Override Future Price with On Hand Price setting, set the number of days the system will store, and use the last available open market price and apply it to products in the Future Sales inventory.
Price Reminder Setting
If you want to use the sameprice
and apply it to
products
To enable and configure the price reminder feature, do the following instructions:
Go to Setup and select Settings.
Click on Price Reminder from the Inventory group of settings.
Check the box to enable the feature.
Optional: Set a time limit in days of the product from which the system will take the product price and apply it to products when they are added to the Staging Area.
Click on Save.
Review and Manage Future Sales Inventory
Whether you want to review your inventory, place some products on hold, or make modifications to these products, you can do it from the Pricing screen.
To access and manage your Future Sales inventory, do the following instructions:
Go to Inventory and select Pricing.
Click on Future Inventory.
Search the products or the order you want to see.
Set the price in the Unit Price column and press Enter or change the product to save the updated price.
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You can also make Mass Updates to this inventory by clicking on Mass Update. Just take into account that the update is based on the filters you use, so be sure to apply every filter you might need. |
Additional Information
Description.
To do “action”K2K Pricing and Vendor Availability Pricing
The K2K and Vendor Availability (VA) inventories give priority to active price lists between the Vendor and Buyer companies, as well as on-screen manual pricing, over other pricing methods. Note that Price Lists can only be used for VA, not K2K. If there is no available pricing for a K2K item, the system will suggest a price based on the estimated landed cost and the company GPM. On the other hand, if there is no available pricing for a VA product, the "Call Icon" will be displayed.
Vendor Availability products do not take “Other Charges” into account when calculating the suggested price. FOB price will not be considered for VA or K2K products.
Price Definition According to the Ship Via
When there are no available prices or price lists, the system will calculate the suggested price based on the Ship Via selected by the customer when creating an order. There are two options available:
Ship Via Warehouse. When the customer selects this option, the system will calculate the price with the real landed cost and the Company’s GPM.
Ship Via Grower. When the customer selects this option, the system will calculate the suggested price with the Unit Cost and the Company’s GPM.
If the Company’s GPM is unavailable, the system takes the Price configured in Inventory>Add Inventory>Vendor Units> Availability Item in the Price column.
To access and manage your K2K and Vendor Availability Inventories, do the following instructions:
Go to Inventory and select Add Inventory.
Click on Vendor Units Availability
Click on Available Items.
Search the products or the order you want to see.
Set the price in the Unit Price column and press Enter or change the product to save the updated price.
Hard Goods Inventory Pricing
The hard goods inventory is managed similarly to other inventory types from the Inventory Pricing screen. In this section, you will learn how to add and manage this inventory.
Upload Hard Goods Inventory
There are two ways to upload Hard Goods into Komet Sales:
Manually. To learn how to add products this way, go to Add Hard Goods Inventory.
With an Excel file. This way, you can add multiple products with a single file. To learn more, read Upload Hard Goods Inventory.
Do
Conclusion.
For an easier way to price Hard Goods items, the system allows the user to set the price directly from the Inventory tab.
To manually manage prices, do the following steps:
Go to Inventory > Pricing > Click on Hard Goods Products.
Use the search option to filter specific items.
Click on the Unit Cost and Unit Price fields for the line items that need to be updated.
After the Unit Cost and Unit Price are updated, the user will have the option to enter a discount percentage and a minimum discount quantity required to be invoiced for the discount to apply for each product line item.
Finally, on this window, the user will have the option to Export the information to Excel
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You can learn more about Hard Goods by going to Hard Goods. |
Staging Area Pricing
Products in the Staging Area are currently in transit or are just pending confirmation or scanned as received. Products that display in the Staging Area were previously added to an AWB by the grower.
The system will calculate the prices in the following order:
Standing Order, Prebook, or Purchase Order prices. When a price is assigned to a presold product or to a future sales item, the system will use that price.
Price Lists. If the customer has an associated price list with an active season, the system will use the prices from that list for the products.
Prices in the Inventory Pricing screen. The prices suggested on this screen are calculated using the company’s GPM and the product’s Real Landed Cost.
FAQs
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