Optimize Purchasing with Dynavistics' Vendor Price Management Module (Full Transcript)

Speaker 1: Welcome to this video presentation from Dynavistics on the Trinity module Vendor Price Management. As we can see from the Item Vendor screen, Dynamics GP records the last known invoice cost for each item that's been purchased across multiple vendors. Vendor Price Management enhances this functionality much further by allowing single or multiple prices for purchased items, quantity breaks dependent on the quantity purchased, pricing on a contract or non-contract basis, and the facility to post purchase prices on specified date ranges so that prices will depend upon when you make the purchase. This pricing information can then be viewed in Purchase Order Creation via the Generator and Standard Purchase Order Entry screens, where lookups allow you to compare, select and view current and future prices. Here we are entering a purchase order for a food vendor and a specific product, Z102. The price of $13 will be drawn from the Vendor Price Contract, and we can verify that by viewing the relevant price record. For this next item, a pop-up screen will appear as soon as we tap off the quantity. This is because we've chosen Option in Setup to see prices where there are quantity options or imminent price changes. In this case, we can see that there will be a special deal with a reduced price, effective in 19 days' time, so we may choose to keep our order today to a minimum. Similarly, for Item Z101, the pop-up screen appears because there are quantity breaks offering us reduced unit prices for larger quantities. This ability to record and utilise accurate prices helps us take advantage of upcoming price changes, as well as reducing potential errors down the line in the invoice matching process. There is a comprehensive maintenance program that allows direct updating of pricing records, but workload can substantially be reduced by using this Import-Export routine. Here we're going to import vendor prices. We'll select the Import option, the Template ID, which controls the format of the file, and then the file itself. The Preview screen allows us to view the price information prior to final import. Prices imported can be future prices, and they will cut in as appropriate. You can even have nested prices, a price for a whole year is, say, a special price for a month within that. An enquiry program will show comparative prices from different vendors for the same item. From the drop-down, we'll see options for price history and future prices. The PO Generator utilises vendor prices, and if it's set to use best price, it will select the lowest priced vendor for the quantity ordered. Against a vendor, we can assign a target order threshold, typically weight or number of cases based on a specified unit of measure held against each product. And if required, we can also store an ordering frequency. In addition, we can also assign a vendor grouping. Both of these features can then be used in Purchase Order Generator. We can raise purchase orders for vendors in the same group, and we can check on supply minimum thresholds. The third Advanced Inventory Prevention video explains this in more detail. So to conclude, Vendor Price Management allows you to better manage current and future supply prices, thereby helping you to reduce purchasing costs, make better purchasing decisions, reduce invoice matching errors, and improve vendor comparison. I hope you found this interesting. If you'd like to know more, please schedule your free demonstration today. Thank you.