The Supplier Costs window provides an overview of the total expenses your company incurs for goods and services received from suppliers. These costs may include raw materials, labour, shipping, and other related expenditures.

This window is automatically updated by the system, ensuring that you always have access to the most current cost data. Monitoring supplier costs is crucial, as they can have a significant impact on your company’s profitability, any increase in supplier costs can lead to a decrease in your company’s overall profitability.

To maintain control over expenses, it is important to regularly negotiate with suppliers and explore opportunities to optimise costs. By having a consolidated list of supplier costs, your company can:

• Quickly compare prices and source more cost-effective materials or labour from alternative suppliers.
• You can also take advantage of volume discounts and special offers to reduce procurement costs.

Effective supplier cost management helps your business maintain profitability and competitiveness by ensuring cost-efficient procurement and resource allocation.