Odyssey Academy: Tailor Your Pricing Strategy with Odyssey ERP
Odyssey ERP offers a versatile set of pricing tools designed to accommodate a wide range of business needs. Whether you're working with custom pricing, bulk discounts, or detailed invoice charges, Odyssey provides the flexibility needed to align your pricing strategy with your operational goals. Here's an overview of the key pricing features available at the Product Level and through the Pricing Module:
Product-Level Pricing Options
- Ship-To Pricing
Odyssey allows you to define product pricing based on the Ship-To customer. This means pricing and quantity breaks can be uniquely set for each Ship-To record. If no manual pricing is entered during order entry, the system defaults to these records. This feature also supports multiple currencies based on Ship-To settings. - Default and Custom Pricing Records
Every Product Master includes a default pricing record that updates automatically with changes to the customer part number and cannot be deleted. Custom pricing records can be created for specific customers or Ship-To locations as needed. - Price and Quantity Breaks
Set tiered pricing based on purchase quantities to incentivize larger orders and support bulk buying strategies. - Invoice Charges
Assign default invoice charges to each price/quantity break, which are then automatically applied during invoicing—simplifying the billing process. - Price Breakdown Amortization
Manage tooling or pattern amortizations by tracking amounts charged against predefined limits. When limits are reached, the system can automatically reduce prices accordingly. - Price Change History Logging
When enabled, this feature requires users to enter a reason and comment for any price change—ensuring a clear audit trail and promoting pricing compliance.
Pricing Module-Level Options
When you need to make broader pricing updates, the Pricing Module offers several efficient methods:
- Price Increase by Customer/Product
Adjust selling prices by percentage, amount, or new fixed price for individual customers, Ship-To locations, or price categories. Overrides are available at multiple levels. - Price Increase by Product
Apply change factors to specific products, with options for overrides at the customer, Ship-To, or price category level. - Price Increase by Price Breakdown
Modify prices based on miscellaneous breakdown codes, with granular override options and support for zero or negative price changes in unique scenarios. - Pricing with Effective Dates
Plan future pricing updates by setting effective dates for new prices. Only one set of changes per date/type is allowed, making this ideal for pre-scheduled pricing adjustments.
Managing Energy and Metal Surcharges
Odyssey ERP also supports the inclusion of energy and metal surcharges, which are commonly used in manufacturing and materials-driven industries. These surcharges can be configured as additional line items or as part of the product’s price. They can be applied dynamically based on product type, weight, material type, or customer-specific agreements. Surcharges can be maintained in a centralized table and updated independently of base pricing, ensuring transparency and ease of adjustment in response to market fluctuations.
Optimize Your Pricing Strategy
Odyssey ERP's pricing capabilities give businesses the tools to fine-tune their pricing strategies while simplifying order processing and compliance. Whether you're managing routine updates or complex pricing structures, Odyssey makes it easy to stay in control.
For more detailed guidance or real-world use cases, consult the Odyssey Help documentation or speak with your Odyssey consultant.
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