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Invoicely pricing for Procurement

it all starts with a bid sheet and a bid sheet goes is the way to keep list your prices that you're paying for grain currently we keep a basis at each location and we as a parent-child relationship to with freight differential to make maintaining that base is quick and easy and we'll get a look at that today the first step then is grower offers again it's an optional step but if a grower calls in and says hey I'll sell you my corn when it hits three dollars and fifty cents you can track that with a grower offer system so we have two types of grower offers firm and notification author is a firm offer is where you don't have to call the grower you can just go ahead and contract for that grain when it it's his price and a notification offer is one where the the grower wants you to call them if it hits that price and then based on that phone call they'll you'll decide to either execute the contract or not and that's the next step is to execute the contract the purchase contract and we'll have we have that in a future webinar so the next screen we're talking about the the grain delivery so we've agreed with the grower to to buy the grain we've built a couple pieces in here that are optional and one is called the the delivery sheet of the delivery intention and the delivery completion and the delivery intention is where the grower calls in and says hey I think I'll be delivering against that contract next week and it just sets up the elevator and gives notification at 8:00 this customer plans to deliver X quantity and estimated quantity and an estimated amount of time the delivery itself when the grower brings the grain and goes over the scale with that's usually or that's complet accomplished through a scale ticket and we leverage has a scale app that we've built it's pretty neat and then we also integrate with other scale applications such as one-way comp away and and others the tick is then either vitae the delivery sheet but if there's no delivery sheet we can apply that ticket to a storage or a purchase contract when the grower is all done delivering we have a way for them to complete that delivery so again this is an optional set step but basically if the delivery intention is all all correct as in other words the intention the disposition like whether it's going on storage or or caught onto a contract if that was all right we can just use it just confirm it or if at this point he wants to change the splits like who he's splitting the grain with or if he wants to change the disposition or average grades that's all done in the delivery completion step then then after the the grower has delivered the grain then it's it's time to to settle so the settlement is actually paying the grower for the grain and that's a three step can be a three step process one is a settlement request and that's where their grower or another user of the system maybe an accountant or a merchandiser it could be anybody who has security just request that on the growers behalf or for payment of the grain we record information such as who to pay when to pay how much to pay what grain we're paying for is all done as part of that request then the request moves on to actual de settlement and the settlement is where we confirm the settlement make sure that there's if there's any lien holders any third party payments any advances to subtract make sure it's on the right contract at the discounts and fees and everything is confirmed and okay and then we go ahead and move it we use dynamics D 365 for actually paying and creating the check or the EFT so so that's how we get the money through the grower the this screen is leverage and dynamics 365 finance and operations this is the main screen you come into when you log in and will get will just take a look at I have on my favorites at a bid sheet and the board price configuration and offers you can navigate two ways one is you can use the long menu navigation that goes through commodity accounting and you can see all the different choices under commodity accounting for the purposes of this webinar I've went and put stars next to other offer in the bid sheet and the board bid sheet configuration so that they all show up here in my favorites so let's take a look first at the the leveraged bid sheet I'll just look at all of them ok so this is the bid sheet and you'll notice a crowd we'll take a closer look across the top we have the delivery periods and then the ticker symbol that that pricing is tied to and then what the board price is currently that board price can be keyed in at the end of each day or periodically during the day or we can get that price from a market price service such as DTM then for each branch location as you can see I have Barnesville Alexandria Arthur and Crookston we have the basis any adjustment to that basis for the net basis and then the cash bid for the day is for example 307 for Alexandria you see if we have a - 25 cent basis for a bid cash bid price of 298 for May of 2020 and then we goes on and on for each location now if you wanted to look at just a certain just one location we can restrict it and just say hey show me the Alexandria bids what's neat about this is that now it's showing the Barnesville location and the Alexandria location and the reason for that it's because Alexandria bid is the Barnesville is a parent to the Alexandria and so we use a parent-child relationship so that changes through the basis in Barnesville automatically rolls down to the changes in the base it will automatically change the basis at each of its child locations in this example Alexandria let's look at how that bid sheet is configured first of all you set up a parent-child relationship so we have the child branches here and they in this example they're all set up to the same parent we could set up multiple locations one or more locations to its own parent or to a different parent or they could be their own parent if you don't want to use the parent-child relationship but this shows how each of the locations is tied to a parent this is where we put the basis entry for each for the parent again we have the parent branch name the commodity the delivery period in this case February of 2020 and the ticker that it's tied to the ticker symbol and then the basis and notice since February delivery period is old it is not published so we don't we only show the records that are checked as published so in this example corn for May delivery tied to the May ticker is going to be 16 cent basis again that that's at the parent okay so then we can for each child of that parent we click on the child set up we set up the child location the branch well the parent that it's tied to comes in the commodity and then we have a freight differential for each location so for corn we have a nine cent rate differential between Barnesville and Alexandria and then we can do miscellaneous adjustments to if we want to for each location all of that set up results in a that looks like this the parent and the child that concludes the bid sheet portion of the presentation let's take a look at grower offer so in merchandisers and grain buyers and oftentimes have conversations with growers and customers and say hey what are you paying for grain today and they might say something like god we're paying 350 and the GAR goes well that's not enough what I but call me if it gets to 375 because I don't want to take the time to watch the market every day if it gets to 375 give me a call so what a grower or so you know so at that point you got a choice do I write it down on a yellow yellow sticky note do I put it in my phone do I call up a spreadsheet how do I keep track of that so I remember to call the grower when that price gets close or hits that mark so that's really what grower offers are all about so if we clicked on the menu choice for grower offers and we see all the grower offers that we've I've put in the system from before and let's just take a closer look at what information we see here first of all we see the offer type and there's really two offers that we support a notification and that means call them before you execute the contract to see if they're still interested in selling at the price they they said and then we have a market offer that says hey don't bother to call them just execute the contract and send them a contract if that price hits we have the date of the offer who did the offer what's the commodity what branch was the they were gonna deliver to in this case Barnesville what delivery period in this case our naming convention is to 20 2006 that's June 20 20 2009 is September no 5 is May and so forth the net price that the offers for so they offered 3 if it gets to 3 dollars and 35 cents they want to be called based on the board price of 350 and the basis of -15 this is the quantity of grain 5,000 bushels that they're offering at that price and when the offer expires so if we don't get a hit on this buy 531 the end of May this one is going to expire and goes off the list let's take a look at how easy it is to create a new one we simply click on new we select what location the grower wants to deliver to let's say Barnesville the offer date defaulted to today what type of offer it is is it a notification or a market offer who the customer is let's say it's just Rowan farms so I started by typing a little bit and it popped up to the customer I hit enter which commodity we have a naming convention here if five thousand one is corn and then the delivery period let's say he wants to offer it for July and then how much let's say five thousand bushels and July will die to the July of 2020 sticker symbol and let's say they're going to offer to sell us at 395 that would be the board price maybe a minus 15 basis for net price of 380 and let's say that offer expires I click the calendar symbol the offer expires June 15th it's good through June 15 and it is going to be a cash contract the offer they could be they could do a basis offer if they like but just the cash in this example and then the location is Barnes Hills where they deliver we simply hit create and we're good to go many details we have a chance to change it and everything's good we can hit save and close and we're out to the list and notice they have that they're added to the list let's dig up this list let's take a look at how we can filter the list first of all quickly we could so by delivery location we'll just say ok let's look at Barnesville and then what commodity we can just choose the commodity so now I'm seeing only Barnesville corn in this list and let's say I'm only interested in seeing this delivery period for June what I can buy immediately now you notice every one of these columns are sortable and filterable so what we can do is we click on this little down arrow and we get how we want to sort it and then we can filter on the delivery period so I can say delivery period begins with 20 2006 apply that filter and now only offers 4 for June of all 6 are shown in the list and let's say if we so the same thing I can do here I can filter and I can go from smallest to largest and now I can see the lowest price on the top and the largest price on the bottom so it's easy to filter slice and dice and look at these offers any way you'd please in addition we have if there's a single click if you don't if you want to send them to excel we do a single click to excel here we open the offers in Excel and the it exports into an Excel spreadsheet and you see all the offers are here and you can sort filter and using Excel the last step of the process is to if-if-if offer is yets and you'd like to turn it into a contract you simply select the content of the offer and hit create purchase contract and then with a single click all this data goes into purchase contract and is ready to further grower to sign and complete the contract so it saves a lot of data entry because a vast majority of this information and will end up on a purchase contract you