I am working on a project and am aware of a second project that have the same problem around standard cost estimates.
Both clients have decided to use value contracts to purchase their raw materials. It is known that maintaining a separate purchasing info record for the same price on the contract is difficult to synchronize, so the decision is nearly made in both project environments to maintain value contracts only for these items.
When we come to maintaining standard cost estimates for the higher level items that the procured materials are consumed for, we are unsure of how to drive the cost estimate to consider the value contract, where no purchasing info record exists.
I'm not a CO person and none of the CO folks on either project seem to have an answer for this.
How can we maintain final product cost estimates when one or more of the raw materials are managed with value contracts INSTEAD of purchasing info records?