Gain Greater Insight Into The Profitability Of Manufactured Items With New Price Modifiers

ManufacturingFor many manufacturers, offering customised options on their products is all part of the sales process. It may be that certain manufactured products are available in different sizes, colours, with different accessories or with bespoke additions, something that is particularly common for businesses selling apparel or electronic goods. These are often provided to customers as options on their products when ordering, offering them greater flexibility and personalisation of their desired items. Manufacturers will tell you though that depending on the options that customers end up going for, there can often be a real impact on the final sales price.

Manufacturing WorkThis is because different components costing different amounts are often required to complete the option part of the build, with businesses needing to adjust their sales order price as a result to ensure their desired margins continue to be maintained. However most manufacturers lack the structure to manage this process effectively, resorting to simply pricing up their revisions based on standard component costs, without taking into account the cost of delivering these additional options or using unreliable estimates to see how prices should be adjusted. Therefore without the right structure in place to manage these manufacturing revisions that have various options, businesses can soon find that prices start to become too low and their profitability is negatively affected as a result.

With OrderWise Manufacturing, businesses are already presented with comprehensive functionality to manage multi-level BOMs, customised revisions and various options, as well as accurately and effectively work through complex manufacturing processes. You can read more about the OrderWise Manufacturing module HERE.

Price calculatorMaximimise Your Sales With New Price Field 

Now a monumental new price modifier feature has been added to this popular module in version 11.11 of OrderWise, which ensures that when an option is selected for a manufacturing revision, the additional price of the option is added to the sales order line price.

This has been facilitated by a new price field which can be found against the BOM option component record within OrderWise. This price will be the additional base net price for the specific component used for the chosen option. When the required option is then added within the sales order entry screen, the additional component costs will be applied when the sales order line price is calculated, with the customer’s currency also taken into account.

Rising CostsFast & Accurate Works Order Component Selection 

Coinciding with this price modifier functionality, a new component grid has also been added to the sales order entry screen. Now when choosing revisions or viewing the quantity available to manufacture, OrderWise will show the components of the selected revision in the grid. This gives staff even greater insight into what can be built and sold at any one time, allowing sales opportunities to be maximised.

With these two great new features, businesses using OrderWise Manufacturing can now ensure that the cost of supplying options on their manufactured items are now accordingly reflected in the price. By also having the ability to easily view the components available within sales order entry, users can make the most of this new feature to help maintain high profitability when selling manufactured products.

For more information on OrderWise Manufacturing, you can download our brochures.

Existing users can contact our Client Services Team.

To discuss your requirements in more detail, contact us today on 01522 704083.

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