A quotation can look profitable until someone discovers that it uses last month’s supplier prices. Updating a price list sounds straightforward, but different product codes, pack sizes and discounts can make a simple import unreliable.
Identify where prices come from
Your suppliers may provide spreadsheets, downloadable catalogues or an API. Some may only send changes by email. Establish the formats available, how often they change and whether you have permission to use them in your system.
Automation depends on the source. A consistent spreadsheet can support a repeatable import; an irregular document may need preparation and review.
Match products and units correctly
Keep the relationship between your product code and each supplier’s code. Check whether the price is for one item, a box, a metre or another unit. Record relevant quantity breaks, delivery charges and agreed discounts separately.
For example, a price of £24 for a pack of ten is different from £24 per item. The system should make that distinction clear before staff use the figure in a quotation.
Review changes before accepting them
An import preview can identify unmatched products, missing prices and unusually large changes. Staff can review exceptions before the accepted prices become available for new quotes. Keep a record of the source file, import date and person who approved it.
A failed import should leave the current approved prices available. Display when those prices were last checked so staff know when a manual confirmation may be needed.
Protect quotations already sent
Updating the product catalogue should not silently rewrite a quotation the customer has already received. Store the cost and selling price used for each quote version. If staff choose to reprice it, show the differences and create a clear revised version.
Where prices take effect on a future date, agree whether the quote uses today’s cost, the expected order date or a confirmed supplier quotation. The right rule depends on how your business buys and sells.
Separate cost changes from selling decisions
A higher supplier cost does not automatically determine your customer price. Agree who can change margins, apply discounts or approve an exception. Show the effect of revised costs so the person responsible can make an informed decision.
Start with one supplier
Use a representative price list and a few existing quotes to test the process. Include a discontinued product, a pack-size change and a large price increase. Prove the checks before extending the approach to more suppliers.
Digital Solutions can help connect quotation and estimating software with your supplier management process.