Redwood: Create and Edit Default Cost Profiles Using a New User Experience

Cost profiles define the cost accounting policies for items. The cost processor refers to the attributes of a cost profile to calculate costs and create accounting distributions for inventory and trade transactions. Each item in a cost organization book requires a cost profile to calculate the inventory transaction costs. You can simplify the effort of assigning cost profiles to items by using default cost profiles at the cost organization book level or at the item category level within the cost organization book. Default cost profiles are generally used if the costing policy is the same for all items in the cost organization book or in the item category. 

You can now create, modify, delete and search for default cost profiles using the Redwood pages. You can verify the existing default cost profiles and also download the information into a spreadsheet for offline analysis and collaboration. You can manage the default cost profiles only for the cost organizations that you've access to.

Search, Update and Delete Default Cost Profiles

On the Default Cost Profiles page, by default, you can view the profiles that are sorted by last updated date in the descending order. You can further filter the records using:

  • Cost Organization
  • Cost Book
  • Category name
  • Asset Cost Profile
  • Expense Cost Profile
  • Consigned Cost Profile

You can also view the details of the asset, expense, and consigned cost profiles by clicking the links in the respective columns. You can also modify and delete any exiting default cost profile.

Default Cost Profiles page

Default Cost Profiles page

Create Default Cost Profile

Click the Add (+) button to create a default cost profile. You can see the details of the corresponding Asset, Expense, and Consigned cost profiles while you are creating the default cost profile.

Create Default Cost Profile page

Create Default Cost Profile page

Some of the benefits of this feature include:

  • Quickly navigate to related setup pages using the navigation links at the bottom of the page.
  • Quickly review and assign cost profiles to items at the cost organization book level or at the item category level within the cost organization book.

Steps to Enable

You don't need to do anything to enable this feature.

Tips And Considerations

  • In the Setup and Maintenance work area, the Redwood version of the Default Cost Profiles page is enabled by default in this update, but the existing version of the Manage Default Cost Profiles page is still available in the Manufacturing and Supply Chain Materials Management offering. You should move to the Redwood version of the page at your earliest convenience, because the existing version of the page will be removed from the application in a future update.
  • You can provide guidance such as tutorials, company policies, and best practices in the context of default cost profiles using guided journey tasks. 
  • Default sort order for the page is all default cost profiles sorted by last updated date in the descending order.
  • Based on nature of items you can default asset, expense, or consigned cost profiles at the cost organization book level or at the item category level within the cost organization book. If you want to use a specific cost profile for a particular item. cost organization, and cost book combination, use the Item Cost Profile setup page.
  • You can update a default cost profile anytime, but the changes would only be applicable to item cost profiles prospectively. Already created item cost profiles won't be changed.
  • Already created item cost profiles won't be effected by the deletion of the default cost profile.

Key Resources

  • Oracle Fusion Cloud SCM: Implementing Manufacturing and Supply Chain Materials Management Guide, available on the Oracle Help Center.
  • Oracle Fusion Cloud SCM: Using Cost Management Guide, available on the Oracle Help Center.

Access Requirements

Users who are assigned a configured job role that contains the following privilege can access this feature:

  • Manage Default Cost Profiles (CST_MANAGE_DEFAULT_COST_PROFILE)
  • Manage Default Cost Profile by Web Service (CST_MANAGE_DEFAULT_COST_PROFILE_WEB_SERVICE)