Understanding each of the pricing method options that CoreBridge offers for Assemblies is a key piece in determining which method will work best for your business.
Table of Contents
- Pricing Tab
- Active Pricing Method
- Cost Plus - Margin:
- Cost Plus - Markup:
- Market - Assembly Pricing:
- Market - Component Pricing:
- Tables
- Assembly Settings
- Advanced
For all Assembly pricing, navigate to Settings / Components / Assemblies, and select an Assembly.
Pricing Tab
All Pricing Methods can be found in the Pricing tab.
1. Select the Pricing tab.
2. Select Active Pricing Method.
a. For additional information on how each Pricing Method works, hover over How are Costs and Price Calculated?
Active Pricing Method
CoreBridge offers five different Pricing Methods for your Assemblies including Cost Plus - Margin, Cost Plus - Markup, Market - Assembly Pricing, Market - Component Pricing, and Custom Formula. You can edit this information at any time by changing the appropriate field and clicking Save at the bottom of the page.
Note: The industry standard and the recommended Pricing Method is Cost Plus pricing, either Margin or Markup.
Cost Plus - Margin:
This pricing method begins with the combination of Machine, Material, and Labor Costs for this particular Assembly. This number becomes the Total Cost. Your Margin is then added to the Total Cost number as well as the cost of any Optional Features. Any discounts you have set will then be subtracted. Assembly Minimums and Assembly Fees will be factored in as well. The remaining amount is what you will charge your customers for this Assembly. For more information on cost based pricing, please see Cost Based Pricing.
1. Select Cost Plus - Margin from the Active Pricing Method dropdown.
a. Formula Customizations - These boxes can be filled in with the formulas for any discounts you would like to have applied to this Assembly.
b. Assembly Minimums - Set the cost you would like to charge at minimum for each item and the total price on the Assembly.
c. Assembly Fees - The costs you would like to charge for this particular Assembly. These can include a One-Time Fee charged when this Assembly is used, or a Per Item Quantity Fee that is charged with each item that uses this Assembly.
Cost Plus - Markup:
This pricing method begins with the combination of Machine, Material, and Labor Costs for this particular Assembly. This number becomes the Total Cost. Your Markup is then added to the Total Cost number as well as the cost of any Optional Features. Any discounts you have set will then be subtracted. Assembly Minimums and Assembly Fees will be factored in as well. The remaining amount is what you will charge your customers for this Assembly. You can edit this information at any time by changing the appropriate field and clicking Save at the bottom of the page. For more information on cost based pricing, please see Cost Based Pricing.
1. Select Cost Plus - Markup from the Active Pricing Method dropdown.
a. Formula Customizations - These boxes can be filled in with the formulas for any discounts you would like to have applied to this Assembly.
b. Assembly Minimums - Set the cost you would like to charge at minimum for each item and the total price on the Assembly.
c. Assembly Fees - The costs you would like to charge for this particular Assembly. These can include a One-Time Fee charged when this Assembly is used, or a Per Item Quantity Fee that is charged with each item that uses this Assembly.
Market - Assembly Pricing:
This pricing method is based on the current Market Price for this Assembly and is calculated by multiplying the Total Quantity by the Market Price and then adding in the cost of any Optional Features. Discounts, Minimums, and Additional Fees are factored in to reach your final cost that you will charge your customers for this Assembly. You can edit this information at any time by changing the appropriate field and clicking Save at the bottom of the page. For more information on market based pricing, please see Market Based Pricing.
Note: The total cost of Machine, Material, and Labor is calculated by the System and stored for reporting. However, this number is not included in this Pricing Method.
1. Select Market - Assembly Pricing from the dropdown.
a. Formula Customizations - These boxes can be filled in with the formulas for any discounts you would like to have applied to this Assembly.
b. Assembly Minimums - Set the cost you would like to charge at minimum for each item and the total price on the Assembly.
c. Assembly Fees - The costs you would like to charge for this particular Assembly. These can include a One-Time Fee charged when this Assembly is used, or a Per Item Quantity Fee that is charged with each item that uses this Assembly.
Market - Component Pricing:
This pricing method combines the Total Component Price from all of the Components contained in this Assembly, plus any Optional Features. Discounts, Minimums, and Additional Fees are then factored in to reach the final cost that you will charge your customers. You can edit this information at any time by changing the appropriate field and clicking Save at the bottom of the page. For more information on market based pricing, please see Market Based Pricing.
Note: The total cost of Machine, Material, and Labor is calculated by the System and stored for reporting. However, this number is not included in this Pricing Method.
1. Select Market - Component Pricing from the dropdown.
a. Formula Customizations - These boxes can be filled in with the formulas for any discounts you would like to have applied to this Assembly.
b. Assembly Minimums - Set the cost you would like to charge at minimum for each item and the total price on the Assembly.
c. Assembly Fees - The costs you would like to charge for this particular Assembly. These can include a One-Time Fee charged when this Assembly is used, or a Per Item Quantity Fee that is charged with each item that uses this Assembly.
Custom Formula:
This pricing method is a powerful way to calculate prices in a completely customizable way. The system executes the Custom Formula as it is written. You can edit this information at any time by changing the appropriate field and clicking Save at the bottom of the page.
Note: The Total Cost, a combination of Machine, Material, and Labor costs, are calculated by the system and used if the Custom Formula calls for them. Otherwise, that information is gathered and saved for use in reporting.
1. Select Custom Formula from the dropdown.
a. Custom Formula - The system will automatically populate this with a base formula that is Cost Plus in nature. You can edit and make changes as necessary to fit your pricing needs.
b. Assembly Minimums - Set the cost you would like to charge at minimum for each item and the total price on the Assembly.
c. Assembly Fees - The costs you would like to charge for this particular Assembly. These can include a One-Time Fee charged when this Assembly is used, or a Per Item Quantity Fee that is charged with each item that uses this Assembly.
Tables
This is where you are able to define price for each Unit, as well as the percentages for your Markup, Margin, and Discount. You can access this and edit at any time by typing in the appropriate field and clicking Save at the bottom of the page.
Note: These pricing tier tables may appear differently on your Assembly depending on the Pricing Method you have selected.
a. Unit Price - This is the price you will charge for each individual unit in this Assembly.
b. Markup - The Markup percentage automatically populates as 50%. This can be edited to suit your needs.
c. Margin - The Margin percentage will automatically populate as 50%. This can be edited easily at any time.
d. Discount - This will automatically show as zero, but can be edited at any time.
e. Custom Tables - To create a Custom Table, click on this button. You will be directed to a pop-up that allows you to provide the Table names and a description. For more information on custom tables, please see Custom Pricing Tables.
f. Click on the ellipsis to access more options. Selecting Edit Table Properties will bring up a pop-up allowing you to make changes to the Table.
Note: On a Custom Table you will also have the option to Clone and Delete the Table.
g. Click on this field to edit either the Unit Price, or Percentage.
Assembly Settings
The details contained within this bar will vary depending on the Assembly you are working on. You will see different headers and text fields that allow you to input detailed information about the Components contained as well as Materials, Machines, and Labors used. This information will be the default every time you use this Assembly. You can access this and edit at any time by typing the new information in the appropriate field and then clicking Save at the bottom of the page.
Advanced
The details contained within this bar will vary depending on the Assembly you are working on.
a. Percentage - This discount is calculated using a percentage of the total price of the Assembly.
b. Flat Amount - Choose a discount that is a set dollar amount, regardless of the price of the Assembly.
c. Formula - Create your own custom Formula for the system to use in calculating the discount.
d. Enable Calculated Item Quantity - Checking this box will enable the system to use a calculated value for the Item Quantity, rather than one entered by a User.
Note: Changes made in this bar will need to be saved by clicking Save at the bottom of the page.
