LANDED COST TRACKING PROCESS

Created by ChecklistGuro (https://checklistguro.com)

[ ] Retrieve Purchase Order Details: Fetch the initial shipment details and item quantities from the Purchase Order data model.
[ ] Retrieve Shipping Documentation: Get all related freight invoices, customs duties, and insurance documents linked to the shipment.
[ ] Initialize Landed Cost Record: Create a new Landed Cost Entry record to begin tracking costs for the specific shipment ID.
[ ] Input Freight Charges: Update the Landed Cost record with freight, fuel surcharges, and handling fees once invoiced.
[ ] Input Customs & Duties: Update the record with customs clearance fees, import duties, and taxes paid.
[ ] Input Logistics Extras: Update the record with secondary costs like warehousing, inspections, or documentation fees.
[ ] Sum Total Ancillary Costs: Aggregate all individual cost line items (freight, duty, fees) to calculate the total additional cost.
[ ] Calculate Total Landed Cost: Execute formula: Original Product Cost + Total Ancillary Costs.
[ ] Calculate Unit Cost Variance: Calculate the difference between the original estimated unit cost and the new calculated landed unit cost.
[ ] Finalize Landed Cost Entry: Update the final calculated total and the updated unit cost back into the primary record.
[ ] Financial Audit Task: Create a task for the Finance Controller to verify the accuracy of the landed cost against bank statements.
[ ] Notify Procurement Team: Send an email to the Procurement Manager notifying them that the final landed cost is available for review.
[ ] Generate Monthly Landed Cost Variance Report: Create a report summarizing cost deviations across all shipments for the current month.
[ ] Create Cost Variance Log: Create an entry in the Cost Variance Data Model if the deviation exceeds a predefined threshold.

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