How to Calculate multiple prices for different products in bulk

The jewelry industry teems with a solid number of factors that directly impact the Price of the final product. Accuracy of the cost breakdown is fundamental to your pricing strategy, budgeting, and profit margins. 

Accurate jewelry pricing involves calculating the cost of various materials and processes involved in its production. This guide will help you set up a system to structure, control, and automate price calculations using Formulas and Procedures.

Follow the steps:

1. Create Formulas

2. Create Procedure(s)

3. Apply procedure(s)

Create Formulas

Structure and control the pricing process using Formulas. Create specific formulas to calculate the prices of various components involved in jewelry production. 

 Define desired price calculation levels and create formulas accordingly. For example:

• Materials (Metal, Stones)
• Components (Chain+Clasp, Labret+Ball, etc.)
• Production (Casting, Enameling, etc.)
• Other costs (Package, Shipping, etc.)
• Final product cost
• Final Price for a specific Sales channel (eBay, Amazon, Retail stores, Reseller, etc.)

Create Procedure

Automate, streamline, and ensure the accuracy of the pricing process using Procedures. 

Unify created formulas into procedures to apply these formulas to relevant products in bulk. 

• Create Blocks - each block should correspond to a specific type of product or material. 
• Define Conditions based on the formulas you created to apply to related products.
• Add formulas by selecting the Destination field and Template. Enable Use Price Improvements, if relevant.

Apply Procedures

Once the procedure is created, apply it to products whenever you need it. 

• Run procedure while importing new products and updating listings and products. 
• Schedule procedures to keep your inventory pricing up-to-date.