Item Price Group, Item Price Grp, and Item Group

Enter a value from UDC 40/PI to identify an inventory price group for an item.

Inventory price groups have unique pricing structures that direct the system to incorporate discounts or markups on items on sales and purchase orders. The discounts or markups are based on the quantity, dollar amount, or weight of the item ordered. When you assign a price group to an item, the item takes on the same pricing structure defined for the inventory price group.

You must assign an inventory price group to the adjustment definition or the item, for the system to interactively calculate discounts and markups on sales orders and purchase orders based on an item group.