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As you probably know, the Product has a non-sufficient form for most customers. Let’s have a look at the actual form, and see what’s missing:

image

Now, from what we see, the List Price is what is being used in the system calculations as the price to sell. The Standard Cost could be the MSRP, and the Current Cost is the price your company pays for the product, or the total cost to produce. This is minimalistic, so let’s look at a scenario:

Your company ABC Inc. buys products, and installs them for customers (let’s say Doors & Windows). How do we apply the form to this model?

First off, you have MSRP (Standard Cost). To that apply a standard discount percentage (needs to be added custom), to result in your Current Cost. To that you apply a percentage for S&H, and any other necessary fees, resulting in your List Price.

Since we do have the Description section, which includes the Vendor details, I think this was the scenario envisioned.

Otherwise, on to the manufacturing scenario:

Your company XYZ Inc. produces paper weights. Applying the form to this model:

Materials Cost + Labor Cost + Other expenses incurred = Current Cost

Current Cost + X Amount (expressed as % in many cases) = List Price

The Vendor becomes an interesting concept now. Either XYZ Inc. is the vendor, in which case the field becomes irrelevant, or you have multiple vendors/distributors, in which case you add the same product for each vendor, so you can track against vendors.

As I was saying, the Product is an entity where you should spend some time to map it correctly to the business model used.

Starting to customize a CRM without considering all the aspects could potentially force you in a corner when you get to the Product entity customization.

Enjoy!

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