When uploading your BOM or creating a new BOM without a file, BOM Insight will prompt you to choose Cost Prioritization and adjust your price source options.
This step provides the ability to specify if you want it to automatically use the Lowest Price Settings; and also configure your Price Source priorities and details. The price sources priorities determine how BOM Insight should cost the line items in your BOM.
Price Sources
You can use the Price Source priorities section to choose how you want BOM Insight to cost the line items in your BOM. Your sourcing options include: Contract Price, Quote Price, Purchase History, (Customer) Specific Price (API), and Web Price. Availability of results can vary depending on your admin settings, previously loaded data or API connections.
Uncheck in the Active column any Price Sources that you want to be disregarded for pricing when populating your BOM. Results from those sources will still be available within a part’s details in your BOM, but that price result will not be utilized in applying selections. You will be able to manually override pricing selected if needed with these other results.
You can modify the priority hierarchy of Price Sources by dragging preferred sources up or down to different orders. This will set the price sources priorities when populating your BOM.
When utilizing Contract Price, Quote Price, and Purchase History, choose if the result should be Based On IPN/CPNs or MPNs, as well as if within a date range.
Then for both Specific Price (Customer/API) and Web Price, BOM Insight can pull data results based on Best price and stock, Best price at quantity, Best price available, or Match stock. The option of Best Price and Stock prioritizes identifying stock for results. When using Best price at quantity, this focuses on pricing items based on the best available price, while also taking into account the requested quantity falling within the distributor's correct quantity break limit. Then for the choice of Match Stock, a price result's MOQ is used to differentiate between all the lowest prices found to help determine the selection. When the stock is not met, then the next price source preference in your hierarchy is considered.
You can access optional preference selections for Contract Price, Quote Price or Web Price by clicking on the specific price source’s Edit Details pencil icon.
Contract Price: Choose if to Use All Contract Pricing Lists or specific contracts, as well as if to exclude results with Expired Dates. Click on Close when finished with your selections.
Quote Price: Choose if you want to to Use All RFQs or specific quotes; if you want to Exclude Expired Dates; and if results should only be those Awarded from RFQ parts. Click on Close when finished with your selections.
Web Price: Within Web Price, you can set your Supplier Preferences and choose whether to have BOM Insight pull data from All Suppliers, your Preferred Suppliers First or Preferred Suppliers Only.
If you choose to use either Preferred Suppliers option, there are many options listed for both Authorized Suppliers and Independent Suppliers. Web pricing results are dynamic based on your location and will reflect the appropriate vendors servicing the region. You will need to scroll down to see all of the options. Check the boxes of the suppliers that you want to use. You can also use the Select All or Deselect All to change your selections as a whole. Click on Close when finished with your selections.
Price Source Help Icons
There are also Price Source "Help" icons. Hovering over the “?” icon will display the logic that is used for calculating that particular source.
Checking the box Lowest Price Settings will then automatically choose the lowest price from all of your active price sources.
Once you've completed your desired Cost Prioritization options, click on Save to finish.