Variety is the spice of shopping. If you carry lots of products in different options, like colors and styles, you may have to also deal with different vendor prices.
For example, you may carry T-shirts 👚 and your vendor charges $5.99 for the T-shirts in all colors except red. Those are $6.99. Wait, what? 😮
Since red shirts are the most popular or may require more handling to make, the vendor charges a little more for them and passes that cost onto you.
So how do you figure that in your inventory costs??? 💸 With your Volusion Admin tools!
Using the Vendor Price Diff Field
The Vendor Price Diff field is an advanced option available on options settings pages (Inventory > Options > Option#) that can be used to specify the price you will pay a vendor for the cost of a product, based on a specific option.
Using this, you can enter a value of 1 into the Vendor Price Diff field for the T-shirt's red product option, to represent the higher price. Easy peasy!
This Vendor Price Diff field can be found by going to Inventory > Options, and clicking on the Option ID you want to edit. The Vendor Price Diff field is under Advanced Info.
⚠️ Good To Know: You’ll want to keep the following in mind when using the Vendor Price Diff field:
- Don’t use this setting in conjunction with any product/product options combination configured to use the Inventory Control Grid feature
- The product must have the Vendor Price field configured for the Vendor Price Diff field to apply to a product when an option configured with a Vendor Price Diff is selected
- The Vendor Price field can be found within the product settings under the Vendor Information heading
- The Vendor Price Diff field within a product option will only be applied to a product if that product is configured to drop-ship from a vendor via purchase order, and it will only be displayed within a purchase order
- The price difference will not be reported for product's cost of goods sold within the Reporting page
Keeping track of your inventory and costs a must if you want to run a profitable business. 👍 With Volusion, you can do it all within your Admin area, even when a vendor throws you a curveball ⚾💨 with a one-off price difference!