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August 30th and 31st 2022, Release Note: Inventory | Restaurants: Last Cost Price on Product Update in RME

Comments

4 comments

  • Ivan Braun

    Hi

    I can see the potential of the change as we are one of the customers asking for similar fuctionality.

    However i cannot really see how this could works in the way it has been built

    I think it will actually lead to more discrepancies between RME and Inventory.

    Site member will be able to process invoices without realizing the price changes. This will lead to administrator not being able to be notified about those changes and update RME for Theoretical cost evaluation

    In my opinion it should have been avaliable for transfer and returns, not for next purchase

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  • Stewart Maranello

    Hi Ivan,


    Thank for for your feedback.

     

    The ability to edit last cost price is actually (optional) long-standing functionality used by many customers, for varying reasons.

    Your comment regarding discrepancies is correct, but this is a known consequence.

     

    This release is simply adding some refinements to that functionality for those customers using it (and of course any other customers wishing to utilise this functionality):

    • The ability to control if the edited price becomes the next purchase price for that location (instead of by default)
    • The ability to action an organisation-wide reset of the product price from RME to Inventory.

    Many thanks

    Stewart

    Solution Director - Inventory Management

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  • Ivan Braun

    Hi Stewart

     

     

     

    Thanks for the explanation.

     

     

     

    Following my comment , I believe i can get this enabled at supplier level without enabling it for the next purchases.

     

     

     

    That means it would only work for manual imput orders and transfers/returns ( without impacting next purchases and other metrics such as stock evaluation). Is that correct?

     

     

     

    If so that would be great.

     

     

     

    An additional feedback would be the below:

     

     

     

    1) considering those refinements would it be possible to finally get the Theoretical COS hardcoded to the last paid price rather then cost price and model in Starchef?

     

     

     

    This will avoid the current paradox where ,assuming i have 2 identic weeks( in terms of sales and sals mix), if in one of the weeks I buy the products at way higher price(from alternatives suppliers), the theoretical COS will be the same for both.

     

     

     

    Many thanks

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  • Stewart Maranello

    Hi Ivan,


    Thats not quite correct.

    You can enable the ability to Edit the Price of a GRN utilising the Supplier Can Edit GRN option (soon to be relabelled).

    This allows all GRNs for that supplier (Manual or via a Purchase Order created in Fourth), and Supplier Returns to have the price edited. It does not make the Transfer price editable.

     

    If you also enable Use Last Cost Price Paid as Next Purchase price, then Purchase Orders will utilise the most recently edited received price for that supplier instead of the default.

     

    Editing the receiving price will absolutely have an impact on stock valuation as received pricing is utilised in the stock valuation process.

     

    Regarding your other point;I can see you have already raised an idea regarding this, received feedback and it is open for voting.

     

    Many thanks

    Stewart

    Solution Director - Inventory Management

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