Enable "Low Cost" Tracking Feature
With computer hardware and parts, the prices tend to fluctuate, A LOT. Currently, we are using the "worst case scenario high price" for our Cost field on inventory items. That way we know not to buy if it's above that cost for some reason.
A good example is SSDs (256GB). We have our cost in (conservatively) at $119. However, sometimes they cost as much as $140 (in which case we'll hold off on buying until the price drops), other times they're as low as $105 (in which case we'll stock up). Currently, they are on sale for $95-100. In a case like this, it would be nice to see we're common to paying $105 (low) to $119 (high) - and therefore $95 is a kind of "alert" to buy.
It would be really helpful to have an option in Inventory to "Enable Low Cost" feature, where POs would automatically continue to query the current (High) cost of an item, but we could reference the "Low" cost of an item to keep track of how good of a deal the purchase is at that time.
This is a good idea but probably a major feature and not on our immediate roadmap.
Ryan (CTO, Pinellas Computers) commented
An add-on to this post: Inventory managers would have a lot easier time if they had more data. The more information about a product (cost, price, history, msrp) the better. I was looking at inventory today and thought of the columns I'd really like to have in view when ordering parts.
Target Cost Range (low-high) | Cost | MSRP | Price
This way, we could easily see what the price/cost range of a product is (normally) versus the MSRP, so we can make good purchasing decisions.
@August - Looking forward to that!
I have heard they are going to soon be implementing different SKUs for the same item so you can have varying costs for the same part. That would probably help in keeping margins healthy and do something like what you are mentioning here.