Maintaining landed cost for products your organization handles can be a crucial task. As more and more organizations acquire material from overseas sources, the process of determining the actual cost of an item becomes increasingly difficult. In order to calculate landed cost, all factors beyond primary cost of material must be considered and accounted for; so that proper costs are updated and made available for decision making.
SYSPRO’s Landed Cost Tracking is designed to address these problems as it provides visibility of imported goods through shipment tracking and enables greater control of all associated costs, resulting in accurate landed costs. It enables you to track shipments of imported goods, monitor the progress and estimated arrival times of shipments, and establish a reliable estimate of the overall cost of imported goods. Furthermore, it aids the calculation of a more accurate actual cost at which to receive the goods and provides an actual cost comparison to the various estimates made during the procurement cycle.
Key benefits of Landed Cost Tracking
- Identification of all cost elements associated with imported goods which are imported for better estimates of landed costs
- Estimated landed cost for each product through accurate cost apportionment based on volume, value, quantity, etc
- Tracking of shipment arrival dates of shipments
- Pre-costing of shipments for streamlined receipting
- Goods Received Note (GRN) system to trace element costs for accurate invoice matching
- Multiple tariff codes
- Automatic update of expected arrival date when shipping date is revised
- Archiving of completed shipments and associated costs