Updating Standard Cost, Vantage 8.0

Yahoo Archive
1
Load the cost details, make the necessary changes to labor and burden
rates, etc. and then perform a rollup. All manufactured parts will
rollup with the new burden and labor rates you entered in the
workbench. To do the analysis, create a BAQ using the Part,
PartCost, CostPart and PartWhse tables so you can bring in the
original cost, the new cost and the quantity on hand. Then create a
dashboard using that query and export the data to excel for
analysis. The report Vantage gives you in the Costing Workbench does
not use the inventory on hand for its analysis but only gives you a
percentage of change to the part cost. Worthless Report! All
Accountants I have ever worked with want to know the expected change
in inventory value.

There is no mechanism in Vantage to do what other packages I have
used call a "Cost Rollup Process" for purchase parts. That process
would take a predetermined field and roll that cost into the Standard
Cost field. In the past we have normally performed that procedure
once a year. In Vantage, you have to manually update the cost for
each part once they are loaded into a Cost Group. At least that is
all I can find in Vantage. With 75,000 purchased parts in our system
that process is not feasible. I had to develop a process to do that
in Vantage. Because of several factors we could not use the Last
Cost field, one being we buy parts for more than one supplier (one
being foreign) and with the cost being much different we could not
use the last cost. I actually customized the Part Maintenace UI and
added one of the user defined fields to it. I then populated that
field with the Last Cost using a VB program. This gave the buyers a
starting point to enter the new standard cost we wanted to use. When
it came time to perform a cost rollup, we created a cost group for
just purchased parts, I ran another VB program that updated the
standard cost in the Cost Group to the value of the user defined
field the buyers updated. We then posted that cost group to update
the purchase parts cost. If you always want to use the Last Cost
field then you could skip the customization of the Part Maintenance
UI.

I think Vantage has missed the boat on some of the processes that are
needed when using Standard Cost. The global update of purchased part
cost is one they definitely missed.

--- In vantage@yahoogroups.com, Robert Brown <robertb_versa@...>
wrote:
>
> Use Last Cost as the costing method for the set of purchased Parts
you described as Last Cost being most appropriate for your company.
>
> Costing method is a Part Class/Part inheritance model (with Part
settings over-riding the Part Class when specified).
>
> You can mix any combo of offered cost methods (average, last,
standard, etc.,).
>
> Some reports (& I suspect system processes) likely are
(inappropriately) hard coded to ignore the actual set Part Cost
methods and use one (likely standard). Just be wary of that if you
get different results using different reports.
>
> Rob Brown
>
>
>
>
> "Butler, Bruce" <bbutler@...> wrote:
> I am new to a standard cost environment. I would like to
know after
> running the load cost details where I can find the results of that
run
> for analysis.
>
> I would also like to know if I can simply make our last cost the
> standard cost as this would seem to work for us in regards to
purchased
> parts.
>
> Finally, I want to make sure if we update our Methods standards if
these
> will in fact run when we work with mfg parts through the Cost
Workbench.
>
> Bruce Butler
>
> Information Systems Manager
>
> [Non-text portions of this message have been removed]
>
>
>
>
>
>
> ---------------------------------
> Be a better friend, newshound, and know-it-all with Yahoo! Mobile.
Try it now.
>
> [Non-text portions of this message have been removed]
>
2
I am new to a standard cost environment. I would like to know after
running the load cost details where I can find the results of that run
for analysis.



I would also like to know if I can simply make our last cost the
standard cost as this would seem to work for us in regards to purchased
parts.



Finally, I want to make sure if we update our Methods standards if these
will in fact run when we work with mfg parts through the Cost Workbench.




Bruce Butler

Information Systems Manager








[Non-text portions of this message have been removed]
3
Use Last Cost as the costing method for the set of purchased Parts you described as Last Cost being most appropriate for your company.

Costing method is a Part Class/Part inheritance model (with Part settings over-riding the Part Class when specified).

You can mix any combo of offered cost methods (average, last, standard, etc.,).

Some reports (& I suspect system processes) likely are (inappropriately) hard coded to ignore the actual set Part Cost methods and use one (likely standard). Just be wary of that if you get different results using different reports.

Rob Brown




"Butler, Bruce" <bbutler@...> wrote:
I am new to a standard cost environment. I would like to know after
running the load cost details where I can find the results of that run
for analysis.

I would also like to know if I can simply make our last cost the
standard cost as this would seem to work for us in regards to purchased
parts.

Finally, I want to make sure if we update our Methods standards if these
will in fact run when we work with mfg parts through the Cost Workbench.

Bruce Butler

Information Systems Manager

[Non-text portions of this message have been removed]






---------------------------------
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[Non-text portions of this message have been removed]