Dear Friends,
For certain raw materials I am having a long term (3 years or more) contract with my suppliers. This contract is with respect to quantities and not for the price. Prices will be revised once in a 6 months. Hence some times at the time of material receipt we dont know the material price. Some times this price will be fixed even after 3 or 4 months after the material receipt. But the material will be consumed within 7 days. Hence at the end of the I am not able to calcualte my production costs.
If I activate Material ledger - actual costing will it take care of this kind of business requirement. Please let me know whether my production order will get revaluated even after 3 or 4 months to arrive to the actual costs. Please let me whether this is possible through ML or not?
Thanks in advance.
Regards,
Kodand.