The Factor Grid section of the Inventory Detail screen is used to create the different factors (containers) of selling for the product in each location of the venue.   The factor grid also controls the price of the different factors in different locations.  For example, the Carlton Cold Stubby stock item has 24 inners in the outer purchase unit.  Inners can be sold in the form of singles (stubbies), 6 packs or by the carton (outer).  Therefore the Carlton Cold Stubby stock item has 3 factors.

 

The Divider number is how many units of this factor are produced from one outer.  For instance, there are 4 x 6 packs in a carton so the divider is 4.  The divider is then used to calculate the quantity of inners are decremented from Stock in Location when the item is sold.

 

Click to learn how to add a new factor

 

All PriceNames are displayed in the factor grid in order to enter the corresponding retail price.  PriceNames are used to indicate the different pricing structures across the venue.  These are often location specific but additional PriceNames can be added to accommodate special pricing such as Happy Hours or Member Prices.  There is no limit to the number of PriceNames created, however each location can only have up to 5 PriceNames (or 4 if using Versaterm POS terminals).  

 

Click to learn how to create a PriceName

 

A right click on the factor grid will produce a pop up menu with the following options:

 

Edit Selected Factor/Barcode Alias

Allows the user to edit the description or divider of the selected factor.  Barcodes can also be added or edited from here.

Create PLU

This begins the process of creating a PLU which is the selling code for an inventory item defined by the factor.  Factors without a linked PLU will have an asterisk next to the factor description.   The price cell must be highlighted first before a right click to ensure the correct factor is selected. Click to learn more

View Stock in Location

This option takes the user to the Stock in Location List.  This will list all of the locations that use or sell the inventory item.  

Add/Edit/Delete Factors

Allows the user to add new or edit existing factors

Add/Edit/Delete Pricename

Opens the PriceNames window to allow editing or creating of new PriceNames

Update Salesstock Prices

This will refresh the PLU prices based on the prices displayed in the factor grid.  

Reprice this factor for all items in this range

After selecting a price cell, choosing this option will apply this price to all products that belong to the same range and factor size. For example, if there is a 2lt Soft Drink bottle range and the price is adjusted, selecting this option will then apply the new price to all products in the 2lt range with the same factor.

 

Setting Prices

To set the price of an item, simply highlight or click into the desired price cell and use the keyboard to enter the retail price and a price calculator window will open.  Alternatively a double click into the price cell will open the price calculator window.  

 

Sale Price Calculator

Set the price by Dollar Value inc or ex tax, Gross Profit Percentage inc or ex tax or Markup Percentage.  The Gross Profit and Markup options are useful if the user does not know how much to retail the item for but have an idea of their expected Gross Profit Percentage or what Markup could be applied.  Entering the desired figure here will calculate the retail price accordingly.

Price Rule

Used in conjunction with the Dynamic Pricing application, clicking the CHANGE button allows the user to select a price rule to apply to this price cell.

Rounding

Rounding can be enabled if not setting the price directly by dollar value

Future Price

This will allow the price change to take effect on the designated date.  This creates an entry into the Future Prices table which schedules the price change at a later date.  If not checked the price change will take effect immediately but the new prices will only be sent to the POS if the Update Prices function is performed.

 

At the bottom of the price calculator window, the user can see the calculated cost of the item, the selling price entered and what the expected Gross Margin would be if sold at that price.