This article will explain what Vendor Part Pricing is and how to setup Vendor Part Pricing



What is Vendor Part Pricing 


Vendor Part Pricing allows the dealership to automatically set the Retail Price value for all parts supplied by a certain Vendor


When Vendor Part Pricing is setup, any change made to the Cost or MSRP for that part will be used by the automatic Part Pricing setting to calculate a new Retail Price


This way when Part Records are updated by Price File, Vendor Receiving / Invoicing cost updates or even manual edits to the Part Record, the Vendor Retail Price setting will always maintain the desired markup or margin



How to setup Vendor Part Pricing 

  1. Navigate to the relevant Vendor Record and click on User-added image


User-added image



  1. On the Edit Vendor screen, scroll to the section Price Pricing > Vendor Controls Part Retail Price
Use the toggle to switch the Price Pricing feature ON / OFF for that particular Vendor

  1. Move the toggle to the On position and then set the controls you want in place


For our example below, we want to set a Part Pricing for Vendor: Smith and Co to have:

  • the Part Retail Price based on MSRP

  • a Markup of 5% from $0 to $2000

  • a Markup of 7% from $2,000.01 to unlimited

  • Price to be rounded to the next 5 cents

This is what our settings would be:


Tip:
Dealership can add up to 11 markup tiers to the Vendor Controlled Pricing



Once you are happy with the Part Pricing setup, click onUser-added image



  1. The end result will be that after you click on save - the Retail Price for all parts with the Vendor Smith and Co, will automatically change to meet the Part Pricing setup

Going forward if a new Price File is upload for the Vendor Smith and Co, the Retail Price will change automatically to meet the Part Pricing setup

Keep in mind that if upload a new Price File, please do not expect that all the relevant parts will update in a matter of minutes with the new prices - it may take a little while especially if there is a huge amount of parts attached to the relevant Vendor