Updating Cost in ERP
There are multiple ways cost can be derived in Oracle Fusion ERP Cloud. The current scenario is for Standard Cost.
To update the cost in Oracle Fusion ERP Cloud:
1. Login to Oracle Fusion ERP Cloud.
2. Navigate to Supply Chain Execution > Cost Accounting.
3. From the Task menu:
a. Click Manage Cost Scenarios.
b. Create a cost scenario.
a. Select the Cost Organization, Cost Book, and Effective Date.
b. Also select the Scenario Type and Rollup Scope.
c. Provide the item number in the Item Details section.
d. Save and close.
c. Create standard cost:
a. Navigate to Task menu> Manage Standard Cost.
b. Create the standard cost.
c. Select the cost scenario created in step 3b.
d. Enter the item.
e. Enter the valuation unit.
f. Add the standard cost details.
g. Select the cost element and expense pool.
h. Enter the unit cost.
i. Save it.
4. To fetch the cost updated record, run the batch job.
a. Navigate to the Manage Cost Scenarios page.
b. Search the cost scenario.
a. In the scenario, navigate to Actions and select Update Standard Cost.
b. Enter the submission notes (as a hint to search the current process) and submit.
c. After the batch job is completed, the status will be changed from “New” to “Completed Successfully”.