The Price Variance Report displays inventory item price changes over the course of the past five inventory cycles. This report can be accessed from the Reports module or from the Inventory module under the ‘Reports’ tab.
The Price Variance Report is a helpful tool that you can use to pinpoint inventory item price fluctuations. Price fluctuations may be a result of incorrect data entry or vendor pricing, both of which will affect overall inventory item pricing.
- Filter by location(s) or location group(s).
- Filter by date.
- Enter an alert level percentage. Any items with a variance percentage greater than the value you enter will be marked with an up/down arrow.
- Filter by Inventory Item Group. Select whether or not to view all items or only the top 20% of AP purchases. “All Items” is selected by default.
- Filter by Inventory Cycle.
- Select the order in which you would the report to sort.
- Select whether or not to group by GL Code.
- Filter the number of items to display, based on variance percent, by the top five, 10, 15, 20, or 25 items. Once you have selected the number of items to display, select a variance type. “Off” will be selected by default. Filter By GL Code.
- Filter by Inventory Item.
- This report can be viewed/exported in various formats. It can also be directly emailed.
Frequently Asked Questions
Q: What does the information in the last two columns of this report mean? And what does the acronym ABS stand for?
A: The last two columns display the cycle (of the five cycles rolling) that had the largest dollar value variance and percent variance. ABS simply stands for "absolute value". In other words, these columns simply display variance values (in $ and %) and ignore whether the variance values are positive or negative.