New Functionality Update – Cost Warning Threshold
New functionality coming in Version 5 (.Net)
Within the stock system the Current, Average and WAC cost types of a part are recalculated for certain stock movement types. When a mistake is made, such as a user missing a decimal point, the average cost calculation can cause the Current, Average and WAC costs to jump to unrealistic levels. The incorrect price may not be noticed or corrected and can flow through the system to a point where it is too late to be reversed.
To solve this issue we have introduced a ‘Cost Warning Threshold’ percentage into Safe Milling, at Stock Group level. When the threshold value is greater than zero all changes to the Current, Average and WAC costs will be monitored. Any price fluctuations greater than the threshold percentage and both the original and resulting cost is non-zero will issue a detailed email to a new or existing email group. This will allow any errors to be caught and corrected before they flow through into the Financials system.
This cost warning only applies to Current, Average and WAC cost types and only to costs changed by stock movements, not manual cost adjustments.
There are two new fields on the Stock Group maintenance field that control this functionality ‘Cost Warning Threshold’ and ‘Cost Warning Group’. The ‘Cost Warning Threshold’ field is where you set the percentage tolerance figure for parts within the stock group. The ‘Cost Warning Group’ points to the current or new email group that will be notified of any price fluctuations outside the tolerance percentage.
This new development will ensure that your stock is managed effectively and efficiently without any mistakes going unnoticed. Remember to look our for this functionality in Version 5 (.net).