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8Q Estimated Landed Cost

streamline Your Landed Cost Calculations with 8Quanta! Navigate the Labyrinth with Confidence
Home » 8Quanta Solutions » Optimizing Landed Costs in NetSuite with 8Q Estimated Landed Costs

Why are landed costs so crucial?

Think of them as the iceberg lurking beneath the water’s surface. The visible price tag is just the tip, while the hidden costs – freight, customs duties, taxes, and more – form the bulk of the iceberg. Ignoring them can lead to underpriced products, eroded profits, and inventory chaos.

Imagine this: you’ve sourced the perfect product overseas, negotiated a fantastic price, and eagerly await its arrival. But then, a surprise awaits at the doorstep – a hefty bill for hidden fees and charges you never saw coming. Landed costs, those sneaky expenses beyond the product price itself, can wreak havoc on your profit margins and budget.

Don’t let hidden costs sink your business. 8Quanta is your lifeboat to navigate the landed cost labyrinth with confidence. Contact us today and discover how we can help you streamline your operations, optimize your finances, and unlock a world of profitability.

It's like switching from roadmap to GPS

Real-time Visibility

Gone are the days of manual calculations and spreadsheet errors. 8Quanta gives you instant quotes factoring in all relevant costs, including fluctuating currencies and regional variations

Seamless Integration

No more data juggling! 8Quanta integrates seamlessly with NetSuite, eliminating manual data entry and ensuring consistency and accuracy across your operations

Granular Insights

Drill down into cost breakdowns by item, vendor, and shipment. Identify cost trends, pinpoint areas for improvement, and optimize your pricing and procurement strategies

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Landed Cost is a combination of

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8Q ELC benefits

Cost Efficiency

By pinpointing the exact cost of landing your products, you can adjust your pricing strategy to maximize profits while staying competitive. It's like finding the perfect balance on a seesaw, ensuring you don't tip over into the red

Informed Decision Making

With 8Q, you're not just making decisions; you're making informed decisions. It's the difference between shooting in the dark and hitting the bullseye with the precision of a skilled archer

Streamlined Operations

Imagine your business operations as a well-oiled machine, running smoothly and efficiently. That's the kind of streamlined operation 8Q helps you achieve, eliminating the friction caused by uncertainty and inefficiency

Enhanced Competitiveness

In the cutthroat world of business, every advantage counts. 8Q gives you the edge, allowing you to price your products more aggressively while maintaining healthy margins. It's like having a secret weapon in your arsenal

The Challenges of Landed Cost Calculation

Conquering landed costs requires more than just basic arithmetic. It’s like navigating a labyrinth blindfolded, where every twist and turn holds the potential for costly missteps. Here’s where even the most seasoned business whizzes can get tripped up:

Data Daemons

Imagine juggling a dozen ping pong balls, each representing a different cost factor - freight, insurance, customs fees, fluctuating exchange rates...the list goes on. Manually tracking them all is a recipe for errors and omissions. One missed ball (cost) and your entire landed cost calculation goes wonky, leading to underpriced products, eroded profits, and inventory chaos

Currency Chaos

The foreign exchange market is a fickle beast, its fluctuations adding another layer of complexity. Imagine your meticulously calculated landed cost suddenly morphing into something unrecognizable thanks to a currency swing. Pricing strategies become muddled, profitability takes a nosedive, and forecasting becomes a dart-throwing exercise

Invisibility Cloak

Some sneaky costs lurk in the shadows, waiting to pounce. Think storage fees, inland transportation, and obscure handling charges. Without proper visibility into these hidden expenses, businesses end up footing the bill for surprises, throwing their budgets and inventory management into disarray

The stakes are high, my friend. Inaccuracies in landed cost calculations can lead to a domino effect of negative consequences. Pricing becomes inaccurate, profitability suffers, and inventory management becomes a guessing game. But fear not, for in the next chapter, we’ll unveil the secret weapons to conquer the landed cost labyrinth and emerge victorious (and profitable!).

If your business is involved in international trade, the cost of freight and duty on items purchased overseas can be quite high.

In developing a fully realized product cost to maintain profit margins, you must capture every cost of doing business associated with each product.

The Challenges of Landed Cost Calculation

«We’ve worked with 8Quanta to help integrate new bundles and Modules into our NetSuite account. They are attentive and have helped guide us better optimize our system capabilities with existing out of the box functionalities. Stephanie’s communication was excellent during our first build with 8Quanta and Jay tried his best to always understand what we were attempting to communicate and provide us with options to achieve our needs.»

Jack Cremmen Business Operations Specialist

«Our company has been on NetSuite for almost 11 months now. In that time, we’ve worked with three other NetSuite consultants that have created multiple scripts which have not fixed our issues but have cause additional issues and made things worse. Then I found 8Quanta.

8Quanta has taken our system back to the native NetSuite functions and along the way are teaching us how to use the native functionality. With 8Quanta I feel we’re getting the personal attention and instruction needed to use the system for what it is without a lot of confusing scripts. Thank you, Gerald and team.»

Paul Cruson Inventory Accounting Director

«I wanted to reach out and express our gratitude for you and your company's services. We truly wish we had met you sooner! As you may be aware, our previous consulting group failed to fully grasp the intricacies of our business and the requisite interconnectedness of the modules needed for our Company to thrive. Although we are still addressing some of the design and implementation challenges from our past, we have gained a lot more confidence in our company's future success. Wishing you all the best!»

Andrew Barnes Chief Financial Officer

Supports six allocation methods

QUANTITY
WEIGHT
FLAT AMOUNT
% AMOUNT
VOLUME per Container
VOLUME by Item

Supports unlimited NetSuite Landed Cost templates.

Offer full auto reconciliation of the Estimates to Actual with GL inventory and COGS details.

Are posted at the same time as when you receive your inventory.

Includes margin calculation options at item level by template and by allocation method to ensure your COGS are accurate.

1
When a vendor bill is received for the actual landed costs from the shipping vendor, the amounts are entered using landed cost items that correspond to the cost categories on the template. This action writes the actual landed costs into the GL, producing a variance if the costs are different from the estimated.
2
Landed cost templates are configured with the appropriate cost categories and assigned to each inventory item. When items are ordered and received, item receipts are generated, which utilize the template to create estimated landed costs for that receipt—these estimated costs are updated to the item record.

Ready to Conquer Your Business Labyrinth?

See the power of 8Quanta in action:

  • Simplify your landed cost calculations. Eliminate manual errors and gain real-time insights with our automated platform.
  • Uncover hidden cost traps. Identify opportunities for negotiation, optimized sourcing, and even modal shifts.
  • Make strategic decisions with confidence. Base your pricing, sourcing, and supply chain strategies on accurate data.

Ready to unlock the full potential of your landed costs? — Schedule your demo and start your journey towards enhanced profitability and strategic agility.

Still have questions? Our friendly team is here to help. Contact us today and let's discuss how 8Quanta can work for you.

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