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Note: Vendor Pricing is typically not used in Change Orders.
Note: Vendor Pricing is typically not used in Change Orders.
Before Vendor Pricing can be ran, Vendors need to be added to the "Project".
1. Add vendors:
a. From the “Project”, select the [Info] Module
b. Right-click the white space in the upper-right pane and select “Add”
c. Select all required vendors to be used for this project. Be sure to include “08 - Average Market Price – Trade Service”
d. Select “OK”
Trade Service’s Average Market Price (AMP) is now available as a VENDOR.
With this new feature, capturing average market price is no longer dependent upon manual updates; typically performed every 8 weeks. This process will enable our teams to capture current pricing as markets fluctuate.
Capturing (AMP) within each estimate has several benefits, see below. This will be especially useful for jobs that may not start for a while, or jobs that we do not want to use pricing from Graybar, Viking, Werner, or Crescent.
Feature Benefits:
(AMP) pricing captured within the estimate will be current to date ran
(AMP) pricing is updated frequently, sometimes daily, depending on fluctuations in the market
“Alternates”, Alternate products can be leveraged within the Vendor Pricing tool
Risk may be significantly reduced
“Safe” pricing for items that do not return values from our other vendors
Potentially more complete pricing in your estimate
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The use of Average Market Pricing is no longer recommended. Since mid-year 2020, AMP pricing is often lower than we can purchase these materials.
2. Run Vendor Pricing
a. From the Estimating > Extension module, select “Vendor Pricing…” from the ribbon. Or right-click and select “Vendor Pricing…”.
b. Select “Cheapest” from the drop-down menu
c. Select “Get Prices”
Once the Vendor Pricing tool starts, the following dialog box will appear. You may close this window and work in other areas of the estimate.
Note:
It is recommended to not add takeoff during this process.
You may select "Do not show again" if you do not want to see this dialog box again.
Once the Vendor Pricing tool has finished, the following dialog box will appear.
d. Review each Vendor tab
e. Review the [Results] tab
f. Reject (08 - Average Market Price - Trade Service) pricing for items that are returned at a lower cost than other vendors selected. See step #3 below.
g. Close the dialog box
Note: The "History" tab shows when Vendor Pricing was run in the estimate.
h. Vendor pricing will be reflected in the Extension.
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Note: Average Market Price (AMP) from Trade Service may be lower than the values returned from our other vendors. Be sure to review the Vendor Pricing [Results] tab and reject (AMP) pricing returned that is lower than our other vendors.
3. Rejecting pricing:
a. From the [Results] tab, identify and note items where "08 - Average Market Price - Trade Service" (AMP) is lower than our other vendors
b. Select the (Results) tab
c. Select the cells in the (08 - Average Market Price - Trade Service) to be rejected
d. Select "Decline Price" from the ribbon
d. After rejecting (08 - Average Market Price - Trade Service), the next lowest price will now be shown in "green" as the accepted price.
e. Vendor Pricing will be reflected in the Extension.
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