Inventory – Pricing Section: Adding and Tracking Cost

Alberts allows you to add any relevant quote or pricing estimate for any inventory item in the Pricing tab. This will allow you to estimate the cost of each formula that you create. 

Accessing the Pricing Section

1. Click on the "Inventory" Module in the top header.
   
   
   
2. Click on the Albert ID to see the inventory item Details Page that you are interested in: Raw Material, Consumable or Equipment.
   

   Raw Materials	Consumables	Equipment

3. Click on the "Pricing" to navigate to the Pricing section. Here you will see a list of different price points based on different locations.
   
4. To see the available price points for a specific location, click on the location name.
   

Adding a New Price point or Pricing Line

1. To add a new price point, click on "Add Price".
   
   
   
2. Fill in all the required information in the pop-up window.
   
   

   Field	Description
   Price (required)	Indicate the price and select the units: $/gram, $/kg, or $/lb.
   Vendor (required)	Select a vendor from the dropdown list. If the Vendor does not exist, you can add one by typing in the vendor name and clicking on "Add <Vendor Name>". Click "Add" in the popup to confirm.
   Pack Size (required)	Select a size from the dropdown list.
   Location (required)	Enter the location for this price point. Note that the different price points are grouped by location in the Pricing section of the Inventory Details page.
   FOB Point (optional)	Indicate the location where the Vendor will ship the material to, for free. You must pay to ship to your facility from this location.
   Lead Time (optional)	Indicate the time required by the vendor and the units: days, weeks, months, or years.
   Expiration Date (optional)	Indicate if there is a date when the price is no longer valid.

   
   
   
   
3. Click on the "Create" button. Albert will create a new price point.
   
   
   
4. Click on the menu button next to a price point to edit or delete it. 
   
   
   
5. Select the price you want to use for formulation raw cost estimate.
   Next to each price estimate there will be a checkbox. If you click this checkbox, Albert will use this price-point for real-time formulation pricing estimates, which appear in the formulation module.
   
   
   If you only have 1 price-point, it will be selected by default and used for formulation price estimates.
   Additionally, when you add a new Inventory lot to track physical inventory, the cost of the lot will default to the price that is selected in this section.

Note: you might be also interested in Inventory – Lots Section and Inventory – Usage Data Section.