Cost prices in Inventory Planner are used in purchase orders and analytics. By adding them to your catalog, profitability metrics can be calculated in the many Reports that Inventory Planner has to offer.
Note: If your connected platform has a cost field, we recommend updating cost prices there to keep all information in sync (updating costs in Inventory Planner will not push that information to your platform). If your platform does not have a cost field, then you can add costs directly to Inventory Planner.
For a full list of integrations and details that are pulled from every system, visit https://inventory-planner.com/integrations.
- Update Cost Prices in Catalog
- Reset Manually Edited Cost Prices
- Update Cost Price in Replenishment
- Configure Tiered Pricing
- Comparing Vendor Costs
Update Cost Prices in Catalog
Manage vendor attributes for variants by selecting Catalog > Vendor Attributes.
In this section you can Manage Cost Prices, Associate Variants with Vendors, and apply Vendor Rules (eg. minimum order quantity, units of measurement) to variants.
Select 'Save Changes' to finish updating Vendor Attributes.
Note: You can also 'Set Vendor' from the Replenishment screen by selecting items > Bulk Actions > Set Vendor. Learn more about associating variants with vendors.
Reset Manually Edited Attributes
Editing attributes directly in the Catalog section overrides the synced attributes information from your platform (if applicable). These can be easily filtered and adjusted at any time to refresh the synced data.
For Example: if Cost Price has been manually edited, in Catalog > Vendor Attributes you can add a Filter for "Cost Price Assigned" to see items that have been manually updated. They will be marked with "Assigned in Inventory Planner" under the Vendor column. To refresh the synced data, you can select the cost price displayed in purple text under each cost price field (displayed with red arrows below).
Select Variant > Bulk Actions (at the bottom) > Clear Attributes Assigned in Inventory Planner to reset manually edited data and restore values from your synced platform.
When your supplier offers discounts based on bulk purchasing, you can use tiered pricing to enter the price breaks.
- Select Catalog > Vendor Attributes
- Enable the 'Tier Prices' column using the gear icon on the right side.
- Select 'none' in the Tier Prices column to add detail about price breaks.
- To add price breaks, click '+ Add Price Tier'.
- Then enter the number of units needed to meet the price tier and the corresponding cost price or discount to the 'Vendor Cost Price'.
Finally, click Save.
Now in the 'Tier Prices' column, you will see the units needed to meet each tier and the corresponding cost price.
On a Purchase Order, you will be prompted to change the quantity ordered when the current quantity and the tiered quantity with discounted cost are within 30% of one another.
Comparing Vendor Costs
If you have different cost prices from different vendors for the same item, then you can view this in reports by enabling the 'Cost Compare' column.
Import Cost Price Data
To import cost prices you need to upload a CSV file with SKUs and costs.
- From Replenishment, Select Import > Cost Prices;
- Select CSV file to upload.
- Use the dropdowns to match with column headers in your spreadsheet. Most of the columns are optional, if they are not selected, their value does not change
Use the dropdown options for each field to make sure the correct information is matched. Finally, click Upload.
You will then see the results of your import, including information that successfully imported and an error log. Click on 'Download all errors as CSV' to see issues that need to be corrected. The number in the 'Line' column indicates the row in your spreadsheet where the error occurred.