Hi,
Kindly can I know how purchase receipt update supplier purchase cost and under which criteria? is it updated in supplier for purchase part screen or in a different one. it is urgent as since we have started live (5 years before) the price in supplier for purchase part is not updated and still equal zero.
Best Regards,
Best answer by ShawnBerk
View originalThe purchase receipt price is not updated in the supplier for purchase price. It is recorded in the inventory transaction history related to the ARRIVAL and then into the invoice for the supplier. But if you have not reviewed and captured the prices using an analysis of the Last Purchase Price at some point (we do it annually), there is nothing that will update the Supplier for Purchase Price. That is a manual process that should be done by the Buyer responsible for the Supplier or the Part Type or some other mechanism.
If you’ve been running for 5 years without this information being anything but 0, you have much bigger problems I would assume.
Thank you.
if there is cost in supplier for purchase part it comes automatically to purchase order line. in this case how cost be retrieed into purchase order line cost, we have to update periodically supplier for purchase part?
Yes, if you have the price listed on the SfPP, then it is the price retrieved to the purchase order (assuming you aren’t using supplier agreements or supplier price lists). If the price on the purchase order line isn’t correct and the buyer has been updating the PO Line only, then likely your purchase order and received cost has been more accurate, but the SfPP Price has to be updated manually.
We require our buyers to maintain the SfPP price AND the Inventory Part Estimated Cost fields throughout the year part by part, this way it always holds the most current pricing. Once per year we analyze the last purchase price for all parts from all suppliers and use that to do a one time update of the Estimated Material Cost and then set that as the Standard Cost. We only update the SfPP price via job on special request. Normally, that is the responsibility of the Buyers to maintain - so you have to work out whatever method works for your business, but there isn’t anything automatic to do that for you.
Enter your username or e-mail address. We'll send you an e-mail with instructions to reset your password.
