Managing Supplier Prices
Dynamics 365 Business Central
Provides several features and functionalities that can help manage supplier prices in buying management effectively. Here are some ways Dynamics 365 Business Central can assist in this area
- Supplier’s Offer Price Lists: Business Central allows you to maintain comprehensive supplier price lists within the system. You can create and manage multiple price lists based on various criteria such as supplier, item, and currency. This enables you to have accurate and up-to-date information about supplier prices.
- Purchase Price Calculation: Business Central supports different methods for calculating purchase prices, such as standard cost, last direct cost, and FIFO (First In, First Out). These calculations ensure that the purchase prices are determined accurately, taking into account various factors like discounts, additional charges, and currency fluctuations.
- Purchase Order Management: With Business Central, you can create and manage purchase orders efficiently. When creating purchase orders, the system provides visibility into the current supplier prices, enabling you to select the most appropriate price from the available price lists. This helps in ensuring that you purchase items at the agreed-upon prices.
- Price and Discount Agreements: Business Central allows you to set up price and discount agreements with your suppliers. These agreements can be based on various criteria, such as item, quantity, and duration. The system automatically applies the agreed-upon prices and discounts when creating purchase orders, ensuring consistency and accuracy in supplier pricing.
- Price History and Analysis: Business Central maintains a complete price history for each item, providing you with insights into past supplier prices. You can analyze the price trends over time and compare them to current prices to identify any significant changes or discrepancies. This information helps in negotiating better prices with suppliers and making informed purchasing decisions.
- Supplier Performance Tracking: Business Central enables you to track and evaluate supplier performance based on factors like price adherence, delivery reliability, and quality. By monitoring supplier performance, you can identify any issues related to pricing and take appropriate actions, such as renegotiating contracts or exploring alternative suppliers.
- Reporting and Analytics: Business Central offers robust reporting and analytics capabilities. You can generate various reports related to supplier prices, purchase orders, and supplier performance. These reports provide a comprehensive view of your buying management, enabling you to identify opportunities for cost savings and improve overall procurement efficiency.
By leveraging these features, Dynamics 365 Business Central helps businesses streamline the management of supplier prices in buying management, ensuring accurate pricing, better negotiation outcomes, and improved purchasing processes.
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