Redwood: Review Standard Purchase Cost Variances

Review variance details associated with standard costed items using the new Redwood page Standard Purchase Cost Variance Summary. You can now analyze favorable and unfavorable variances, and detailed breakdowns for better cost control and variance analysis. The page displays all the variances by cost organization, cost book, and variance type in the last 30 days, by default. You can search for variances and their corresponding transactions using keyword search and further filter the results.

You can now view the standard purchase cost variance with the variance type in a flat structure. You can easily access the related variance details pages using the navigation links at the bottom of the page, which provides a breakdown of the variances shown in the summary by item and transactions.

Figure 1: Standard Purchase Cost Variance Summary

Standard Purchase Cost Variance Summary

Standard Purchase Cost Variance Details

Click on the total variance of any cost organization-cost book combination with the variance type to drill down to the details of that variance by item and valuation unit combination. The cost organization and variance type is already selected when you navigate from the summary page. You can also click the Variance Details tab at the bottom to view this page without any filters applied. 

Figure 2: Standard Purchase Cost Variance Details

Standard Purchase Cost Variance Details

Standard Purchase Cost Variance Transactions

Click the total transaction of a item and valuation unit combination to drill down to the variance of that item by transaction type and transaction number. The cost organization, variance type, item, and valuation unit is already selected when you navigate from the details page. You can also click on the Variance Transactions tab at the bottom to view this page without any filters applied. 


Figure 3: Standard Purchase Cost Variance Transactions

Standard Purchase Cost Variance Transactions

Some of the benefits of this feature include:

  • Enhanced speed and accuracy with keyword search and filters.
  • Customizable columns to meet your specific needs.
  • Effortless navigation between related setup pages without changing contexts.
  • Quickly view your variances up front without having to search for a cost organization or an item. 
  • Easy to read UI which allows understanding of the variance type using the flat view, instead of a tree hierarchy.

Steps to Enable

  1. In Supply Chain Execution select the root menu, and select Cost Accounting.
  2. On the Manage Administrator Profile Values page, search for and select the ORA_CST_ANALYZE_STD_COST_PURCHASE_VARIANCES_REDWOOD_ENABLED profile option code.
  3. In the Profile Values section, set the site level to Yes. The default value is No. 
  • Yes = Enables this feature
  • No = Disables this feature
  1. Click Save and Close. Changes in the profile value will take effect the next time you sign in. 

After you've set the profile value correctly, the task pane under Cost Accounting will show the task menu link as Standard Purchase Cost Variance Summary. Using this link, you can access the Redwood page.

Tips And Considerations

  • You can provide guidance such as tutorials, company policies, and best practices in the context of standard purchase cost variance using guided journey tasks.
  • Regularly monitor the variances to ensure that you can prioritize standard costs that require review. 

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:

  • Review Standard Cost Variances (CST_REVIEW_STANDARD_COST_VARIANCES)
  • Review Standard Cost Variances by Web Service (CST_REVIEW_STANDARD_COST_VARIANCES_WEB_SERVICE)