Item Cost Savings
Dashboard Path: Purchasing -> Purchasing Cost Savings -> Item Cost Savings
The purpose of the Item Cost Savings dashboard is to provide the big picture of the Cost Savings or Cost Increases. To compute the Cost Savings/Increases a benchmark needs to be chosen. This dashboard provides the ability to take the Avg Cost from the Previous Year or the Year Before Previous. The combination of filters & dynamic bar charts provides the ability to summarize the Cost Savings or Increases by Planner Code, Product Code, Family Code and Item.
- Only Inventory Items are included for this analysis. Non Inventory items are excluded.
- Items that were purchased in different unit measures (U/M) in the years of comparison are excluded from this analysis.
- With the selection as displayed below, Avg. Cost from Previous FY is considered as the benchmark and used to compute the Cost Savings/Increases for purchases made in FY Period 2023
- With the selection as displayed below, Avg. Cost from the Year before Previous FY is considered as the benchmark and used to compute the Cost Savings/Increases for purchases made in FY Period 2023 September
- Only Items purchased across both the FY Period and the benchmark year are included for the analysis.
- On the Summary Metrics table where the "Total Cost Savings/Increase Amount" and the "Total % Cost Savings/Increase" are provided, the numbers will be displayed in Red if the Cost has increased YoY and Green if the Cost has decreased YoY.
- The "Dynamic Bar Charts" have the option to summarize the selected measure by different dimensions - Planner Code, Commodity Code, Family Code, Product Code and Item as shown below,
Metrics | Description |
Qty Purchased in Selected Period | Sum of quantity received in the selected period across all receipts |
Avg. Unit Cost in Selected Period | Weighted Average of Unit Cost in the selected period across all receipts |
Qty Purchased in Previous Yr or Qty Purchased in Yr before Previous | Sum of quantity received in the benchmark year across all receipts |
Avg. Unit Cost in Previous Yr or Avg. Unit Cost in Yr before Previous | Weighted Average of Unit Cost in the benchmark year across all receipts |
Unit Cost Reduction/Increase | Avg. Unit Cost in Current Yr - Avg. Unit Cost in Previous Yr |
Cost Savings/Increase Amount | Qty Purchased in Current Yr * Unit Cost Reduction/Increase |
% Cost Saving/Increase | Cost Savings/Increase Amount / (Qty Purchased in Current Yr * Avg. Unit Cost in Previous Yr) * 100 |
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