As we know, TradeGecko features Wholesale, Retail and Buy price lists by default. However, one single Buy price list may not be enough as it’s common for businesses to procure the same item from multiple manufacturers or agents, for a diversity of reasons: limited production bandwidth, peak periods, reduce dependence on a single supplier, save shipping costs depending on geographical markets, etc.

In this post we’ll guide you through creating and managing multiple buying price lists, including how to place a Purchase Order (P.O.) that features the right cost from the right supplier.

Identifying the item

During a tradeshow, we have fallen in love with this brand new piggy bank that we know for sure is going to be a hit in our market! So we have decided to source it from 2 different suppliers, located in China (Meow China Ltd) and Mexico (Feline Mexico LLC). If not done already, we first need to create the item in TradeGecko.

Shall we assign a cost in the Buy field? If you have one item which only comes from one manufacturer, then it’s advisable to assign the purchasing cost in that field. If however like this example illustrates, we have multiple suppliers, it’s recommended to leave it empty.

Why is that? When creating a P.O., TradeGecko automatically pulls the value assigned to the Buy price list for that specific item. When detecting that the value is missing, it will default to $0, which is a visual indicator that we need to assign the correct supplier price list instead of placing a P.O. with no value. Therefore leaving the Buy field empty reduces chances of human errors (i.e. selecting the wrong purchasing price) since $0 is, more likely than not, an incorrect value for a P.O.

Populating price lists

Let’s assume that we purchase the item from Meow China Ltd at $6.10, and from Feline Mexico LLC at $5.90 (tax and landing cost considerations not taken into account here).

If not done already, we first need to create the price lists for both suppliers, ensuring that Price List Type is set to Buy. Now there are 2 methods to linking an item to price lists:

1) Update individually: Simply enter the correct value in the right fields and hit the Save button. This method works best if we only have a few items and a few supplier prices to type in.

2) Bulk upload: We recommend this method when there are over 20 items to assign prices to.

On the price list page, either click on Add Products to this price list via CSV (displays only if the price list contains no pricing information) or press Update Price List via CSV

On the next screen, open a new tab when choosing to download the template to fill in. This will provide us the variant’s internal Product ID and Variant ID that we require for bulk upload purposes. When given the choice to select attributes, only need to select the price lists that we want to update.

After downloading and opening the CSV file, here are the steps to follow:

  • Delete the variants that we don’t need to update
  • Leave the IDs columns untouched
  • Enter the correct purchasing costs under the right column
  • and Save the file before uploading it to TradeGecko as we return to the previous page – select Yes I have a spreadsheet with updated price list ready for upload.

After uploading the file, you may be surprised to read that 0 Products and 2 Price Lists will be updated. 

While the wordings can be confusing, this is correct and will result in the outcome that we want: our piggy bank has now 2 purchasing costs from its 2 suppliers.

Placing a P.O. at the correct price

Before placing a P.O., our 2 suppliers first need to be entered into TradeGecko as new suppliers. We make sure to assign the correct price list when populating our new supplier relationship.

When creating a new P.O., we simply select the SKU that we want to purchase (PIGGY-BANK-001) and choose the correct supplier in the Select supplier field (e.g. Feline Mexico LLC).

We then select the correct price list in the Price List dropdown box, and click on Do It! to update the page with the correct prices from Feline Mexico LLC. 

That’s it! The same method applies if we decide to change the supplier of an existing P.O., for example if the initial supplier is not able to fulfil the P.O.


Did you find this article useful? As official TradeGecko partner, Rue Digital can help you turbocharge your TradeGecko with hands-on custom implementation services, backed with in-depth expertise. Focus on your business. Contact us now.


Bonus

“OK, thanks Rue Digital team. One important question you have yet to answer in this post though, and it’s killing us, we must know: What in the world is a stealing coin cat piggy bank?”

Here you go 😉

Categories: Inventory