QuoteCQ: How to Use Target pricing

Content Index

• What Is Target Pricing in CalcuQuote?
• How to indicate the Target Pricing
• How to Use the Target Pricing

The Target Pricing in CalcuQuote

Target Price can be thought of in a couple different ways in CalcuQuote:

• Target Price can reflect your standard, or expected, unit price for the component. This will allow you to compare the current quoted unit price against your standard cost.

• Target pricing could also reflect the unit price your company's or customer's has establish as the goal price. With this example, your team would be comparing the selected price to the goal.
• Target Price could also be considered as the ERP price, the unit price indicated in your ERP for the component. This will allow you to compare your last but price agains the current quoted price.

Ultimately, the functionality of target pricing in CalcuQuote is best used as a comparison tool in order to review current pricing versus the expected or established goal pricing. 

How to indicate the Target Pricing

The same way Target Price might be considered in many ways, you can also upload it or indicated it using different methods.

Including the Target Price information in the BOM file or tab

You can enter your Target Price and Target Price currency columns in your BOM file. When importing the BOM using the Smart Import widget, you will be able to map those columns as Target Pricing and Target Pricing Currency. 

The Target Price column will be still available even if you don't import it, so you could still manually enter the Target Price information in the BOM tab by editing the line.

If you leave the Target Pricing Currency column blank, the system will use your Company's default currency.

Auto-populate the Target Pricing from the Data Source.

Mostly used for indicating the ERP Unit Price as a Target Price. You can connect your ERP file data to CalcuQuote and populate automatically the Target Price and currency in the BOM tab based on the BOM MPNs.

Convert your selected Unit Price into the Target Price.

If you don't want to use any external input to determine your Target Price, you can also use the Quoted Unit Price as a Target pricing. This will allow you to re-negotiate the Quote with your suppliers after a first review of the availability and pricing.

How to use the Target Price

In the CQPS

You can review the Target Price in the CQ Price Selector by choosing to display the column using the Hamburger icon in the top right-hand corner. 

• Target Price: this is the Target Pricing uploaded or indicated from your side using any of the methods above.
• Target Price Currency: this is the specific currency for the Target Price, also indicated from your side. It will be set to the Company's default currency if blank.
• Target Price Variance $: this is the monetary difference between the Target Price and the Supplier's Unit Price. 
• Target Price Variance %: this is the difference between the Target Price and the Supplier's Unit Price, in percentage.

In the Review tab

To review where the selected pricing is greater than your target price, you can use the Material Costing Review tab > Negative Target Price Variance, to see the amount the selected price is greater than the target price. 

Using the Bid Lines Filters

You can also review a specific Negative Target Price Variance value using the Auto Select Bid Lines function in the Material Costing tab.

1. In the Material Costing tab, navigate to the Actions button > Bid Sheets > Auto Select Bid Lines.
   
2. In the Filter Lines screen you can set a filter for the Negative Target Price Variance, indicating the value for the variance you want to review.