Cost Prices wrong 50% of the time
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Crispin
it seems that SIM gets cost pricing wrong 50% of the time, we were wrongly understanding that we could trust SIM data, but it seems half of our suppliers give "generic pricing" (i.e. standard trade prices) to SIM, rather than ones specific to each company. we all know that margins are based on doing deals with suppliers, and margins change depending on what stock-ins and commitment you make to a brand/season. this means we are constantly manually updating cost prices, and it makes no sense for this to be so complicated when all we should need to do is maintain a chart of "brand margins" - i.e. if you know you get 30% margin for a brand, then why isn't this wonderful system able to calculate the cost price if we each maintain a simple look-up table of supplier/brand/margin. that way we are back in control of understanding if the data feed is reliable.
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Phil Topliss
It would be amazing to be able to import a product and for it to have the correct cost price. Its a massive job to then have to create a file with v look ups to put the correct supplier cost into the database and then to do it again for the warehouse stock. If the price goes in incorrectly it effects what finance is offered, as generally the cost price is importing at a higher amount than it really is
Neil McQuillan
We have added support for HLC in the US and Canada for electronic purchase orders. Where suppliers offer this as option we are keen to progress it. It's unquestionably the future of stock ordering. Accurate data, faster orders etc.
Neil McQuillan
We're working to implement Electronic Purchase Orders across as many suppliers as possible, this means you can raise orders directly from Cloud POS and an accurate cost price is provided at the point of order.
Currently we support Giant, Specialized, Cube and Trek, so it's worth us pushing suppliers together to provide this service. Once you've used it, it saves a staggering amount of time keeping your PO's upto date.
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Crispin
or simply get the suppliers to sort out their data feeds... seems there is a lack of understanding the seriousness on this issue by both CL and suppliers.
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Steve
Crispin: Spot on.
Neil McQuillan
Crispin: We do get it, but when you consider volume discounts, special buy prices on certain items for certain customers it becomes tricky for suppliers to manage.
The prices for suppliers who have fixed price bands (e.g. Bonze, Silver, Gold) tend to work well enough to save a lot of time - a quick check of order confirms is enough to find any odd items. Ultimately we need Electronic Purchase orders to be the norm in the industry to solve this problem, that is what has happened in other industries, and we're trying to lead the charge here.
My understanding is Cloud POS is the only platform offering this to cycle retailers globally.