Configuring parts price matrices

The Parts Department can assign an individual parts matrix to each part in the MPI from the Parts List page or Parts List window.

Each parts matrix can be configured to apply specific markups to specific price ranges, based on either cost or MSRP (manufacturer's suggested retail price) and applied to either the cost or MSRP. This allows for different pricing for different business categories. It also reduces the need to manually adjust markups.

As an example, parts matrices can be used to differentiate pricing for wholesale versus retail sales, OEM versus non-OEM sources, or repair versus maintenance services.

Start by selecting Pricing Matrices under the Pricing and Services heading.

 

In the Parts Price Matrix section, select "Add" to add a matrix.

To add a new matrix:

  • Enter a unique Matrix Name up to 25 characters.
  • Select (check) Default if this should be the default matrix when pricing parts. It is not mandatory to have a default.
  • Select Markup Based On Cost or MSRP.
    • i.e. will the parts price markup be based on the part's cost or MSRP.
  • Select to Apply Markup To Cost or MSRP.
    • i.e. will the markup be applied to the part's cost or MSRP.
  • Click "Create". The parts matrix is added to the list of matrices, and a window appears for setting up the data:

 

To enter records into the matrix:

  • Enter the To Price.
  • Enter a % Markup (from -100.00 to + 99999.00)
  • Click "Insert". The record is saved and a new row appears.
  • Delete rows as needed (click "Delete") starting with the most recently inserted row.

Note: The first From Price is always 0.00. For subsequent records, it is always 0.01 more than the previous To Price.

Continue entering and inserting records until your matrix is complete. The data is automatically saved as it is inserted.

 

To update an existing matrix,

  1. Click "Select" beside the matrix name.
  2. Change the name, default selection and/or markup settings as needed then click "Update" to save.
  3. To change a matrix entry, click "Edit" beside the row. Update the record and click "Update" to save.

Note: You can only update the % Markup field of an existing record. To change the From/To Price ranges, you need to delete rows, starting at the bottom, and recreate them.