Material Surcharge

I am not an experienced SAP user so sorry for inappropriate phrasing of my question. In a different platform, we have items linked to material surcharge codes which define a price (loaded manually) and an update frequency (fixed, eg quarterly). Once this link to the part set, then the price gets automatically updated based on frequency (material weight * material actual cost), so the material surcharge element is flexible. Is there any similar solution to do price / contract updates in SAP? (Define base price + a flexible element that can be more or less automatically changed.)