Core System Pricing
In this article you will learn about how pricing works in Komet Core according to each inventory type.
User Roles: Admin, Sales Manager, and Setup.
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.
Table of Contents
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.
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.
We recommend you read and use every additional setting available when you enable selling by units.
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.
Best Practice!
To have an accurate estimated landed cost and suggested price calculation, we recommend you do the following: