Redwood: Create and Edit Cost Elements Using a New User Experience

Cost element represents the level at which the costs of items are tracked through the inventory accounting life cycle. Cost components are mapped to cost elements, which enables you to calculate item costs at different granularity levels for different business needs.

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

On the Cost Elements page, by default, you can view the cost elements that are sorted by last updated date in the descending order. You can filter the records by:

  • Cost Element
  • Cost Element Set
  • Cost Element Name
  • Inventory Organization

You can also modify and delete any exiting cost element. When editing a cost element, you can view, edit, and create analysis group and analysis code mappings to the cost element.

Cost Elements page

Cost Elements page

Create Cost Element

Click the Add (+) button to create a cost element. When creating a cost element, you can create analysis group and analysis code mapping to define alternate views of item costs and summarize costs for different reporting needs.

Create Cost Element page

Create Cost Element 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 create cost elements to calculate item costs at different granularity levels for different business needs.
  • Define alternate views of item costs and summarize costs for different reporting needs using analysis group and code mapping to cost element.

Steps to Enable

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

Tips And Considerations

  • You can provide guidance such as tutorials, company policies, and best practices in the context of cost elements using guided journey tasks. 
  • Default sort order for the page is all cost elements sorted by last updated date in the descending order.
  • Cost elements are defined at the set level. You can manage the cost elements only for the sets you've access to.
  • A Profit in Inventory cost element must be assigned to the common cost element set so that it can be shared across cost organizations.
  • Inventory organization is a mandatory attribute for a Profit in Inventory cost element.
  • In the Setup and Maintenance work area, the Redwood version of the Cost Elements page is enabled by default in this update, but the existing version of the Manage Cost Elements 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.

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 Cost Elements (CST_MANAGE_COST_ELEMENT)
  • Manage Cost Element by Web Service (CST_MANAGE_COST_ELEMENT_WEB_SERVICE)