Add or Edit Average Purchase Price of Products

Products

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Orderhive continues with its refinement drive and as a part of our continuous improvement efforts, we have added the facility to add and update the average purchase prices of the products. 

 

The average purchase price will be visible on the product listing page and it will also auto-update as you issue new purchase orders. 

 

Go to the Products page and select the product for which you want to update/add the average purchase price. Now click on ‘Edit’:

 

 

 

 

Next, enter the average purchase price for the product in the respective field and press save:

 

 

 

 

As you can see, the average purchase price for the respective product is now updated:

 

 

 

 

The Average Purchase Price of the product is re-calculated when a new PO is released.

 

Note: Average Purchase Price of product calculated according to the following formula:

 

New Avg Cost = {(Old avg cost x old available Qty) + (new purchase cost x new received Qty)} / (Old Available Qty + New Received Qty)

The Star Developer...

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Prem Parmar

Software Engineer

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Neel Vithalani
WRITTEN BY

Neel Vithalani

Neel is a creative who's always ready to lay his hands on anything that is innovative and captures masses. He is currently working with Orderhive. Apart from technology and business practices, he drools over psychology, history, and cinematography. You can find him on hiking trips, talking over anything from alien belief systems to 90's cartoon shows.

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