Update Stock Prices in PIMS with a Discount Group Markup

Update PIMS prices for a Discount Group by a markup percentage.

In PIMs you can set a markup percentage on a Discount Group and update the prices for all stock items that belong to that Discount Group. The exception is any Stock Items that have been set / flagged as fixed price, in which case the price for such items will not be updated by the discount group markup.

When you update your Lentune stock records from PIMS to your Lentune database, these price changes will flow through.

Applying a markup to a Discount Group

• Start in PIMS at Discount Groups (on the top menu> Stock > discount Groups) and select the Discount Group to update.
• In the Markup Percent field, enter the markup that you want to apply. This will multiply the Current Base Buy Price by this percent and add that increase to the Current Base Buy Price to calculate the new Marked Up Selling Price as follows:

New Marked Up Selling Price = Current Base Buy Price + (Current Base Buy Price x Markup %)

• Click Save and you will see a confirmation message.
• Click Yes to proceed.

Now you will see the list of stock items that belong to this Discount Group that will have prices updated.

• Click Save.

Take a look at our example: In the list below, the first item is 1234teststockitem2. The current price is 5.

The new price is [(5 x 500%) +5] = 30, as calculated by the formula:

[New Marked Up Selling Price = Current Base Buy Price + (Current Base Buy Price x Markup %)].

Check the pricing for a Stock Item in PIMS

If you want to check the new price for an item in that Discount Group, you can see the pricing details here:

• Go to Stock > Stock Search and find the stock item, then click the Pricing tab.

 In the Selling Price Type column on the right hand side, this shows DiscountGroupMarkup, which tells you that this price has been calculated by the Discount Group Markup calculation.

The column for Is Current Base Price is ticked, showing that this new price has been set as the Current Base Price.

Export and Reimport prices

When importing a Pending stock batch, you can first export existing stock. In this exported spreadsheet, the Selling Price column will be blank for all stock items that have the field set to Use discount group markup to compute selling price. However, stock with fixed prices will have their selling price exported in this column. That allows you to update the spreadsheet and reimport it without overwriting prices that are based on the Discount Group Markup.

Refer to Create & Upload a Price File to read about importing a pending stock batch.

Other Pricing Options

Pricing could also be based on a Supplier Account Markup, or manually entered as a Fixed Price.

To enter a Fixed Price for a Stock Item:

• From the Stock Search menu, select the Stock Item you want to update and go to the Pricing tab.
• Click Create New Pricing.

In the Create New Stock Pricing window:

• Untick the field Use discount group markup to compute selling price. This allows you to add a price manually.
• Effective Date: Enter today's date.
• Selling Price: Enter the new selling price.
• Click Save.

If you want to change a Stock item that has a Fixed price so that it will be included in the Discount Group Markup price update, you can re-tick the flag Use discount group markup to compute selling price for that Stock Item.

• In the Stock item > Pricing tab, click Create New Pricing.
• Then tick Use discount group markup to compute selling price and click Save.

Updating Pims Pricing to your Lentune Stock module

Refer to Update Lentune Stock Prices from PIMS to read how you can now update the pricing in Lentune.

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