When a supplier raises prices

Lumen & Fern’s soy wax supplier writes that wax goes from $4.00 to $5.00 a kilogram. The job: get the new cost into Keelvy, see which candles no longer earn what you want, and change selling prices on every shop.

1. Record the new price

Open Warehouse → Suppliers, open the supplier and go to Products purchased. Click Edit offering on the wax row, enter the new Quoted price and the Quotation date, and save. New purchase orders now fill their price from this row. If the supplier announced a price for a future date, tell Skipper instead: “Soy wax from Northfield Wax goes to $5.00 a kilogram on November 1.” The current price keeps applying until that day.

Steps in detail: Record what a supplier sells and at what price, Rate a supplier and record a price change with Skipper.

2. Receive at the new price

A quote is not a cost. Cost moves when goods arrive. Create the purchase order from the supplier’s catalog, check the price on the line, and receive the delivery with Receive. The wax’s Actual cost blends the new units into what was on the shelf: 100 kg at $4.00 plus 100 kg at $5.00 gives $4.50. Freight and duty you add later reach the unit cost too.

Steps in detail: Create a purchase order, Receive goods, Add freight and duty to what you paid.

3. See which costs have drifted

Open Finance & team → Cost variance (finance roles only). Rows where the cost you set has moved past the Flag threshold % are marked Drifted, with the Variance and the Margin %. The wax is under Components, and the candles built on it under Products.

Steps in detail: Spot cost drift with cost variance.

4. Find the products below your target margin

Ask Skipper: “Which products earn less than a 55% margin on Retail USD and Wholesale USD? Show planned and actual cost side by side.” It reads prices and costs, so it answers only for roles that can see both. Ask it to draft the new base prices; each arrives as a proposal with the old price beside the new one.

Steps in detail: What Skipper can do, Approve or reject Skipper’s changes.

5. Re-set the cost and the prices

Open the wax in Warehouse → Materials and click Adopt actual, or type a new Production cost and save. Cost-based price lists are built from the production cost, so they recompute. Derived lists follow their parent list. Base lists hold what you typed: change them on each product’s Variants & prices tab with Edit price, then Confirm & recompute. A price pinned by hand stays where it is and shows Pinned override. Open the dot in any cell to see why the price is what it is.

Steps in detail: How a purchase changes what a material costs, Price from production cost, Make a wholesale list from your retail list, Set and pin prices on a product.

6. Let a second person approve

A new workspace holds product price changes for a reviewer; you can also gate Price list rule change, Production cost change and Customer price list assignment in Settings → Approval policies. A held change shows Sent for review and waits in Approvals. Whoever can approve applies their own changes directly, and the price stays as it was until the reviewer decides.

Steps in detail: Require approval for changes, Review and decide approvals.

7. Update the channels

Open Sales → Channels, open the shop’s channel and use Push to the shop. Tick Prices, click Preview push and read the count under “to update”, including any listing held back because a variant has no price. Then click Push to the shop. The Channel price column on each product’s Channels tab shows what the channel will send.

Steps in detail: Push products to a shop, Choose what is listed where.

What you have at the end

The wax row on the supplier shows the new quote and its date, and the wax’s Actual cost shows the blend.
Finance & team → Cost variance no longer marks the wax Drifted once you adopted the actual cost.
A product’s price trace reads the new computed or typed price.
Skipper’s margin list comes back empty, or names only products you chose to leave.
The shop shows the new prices after the push.