Item price (list) for current market price/competitors


We would like to keep track of the current market prices by tracking our competitors prices. The idea is to compare our prices with the competitor prices and potentially adjust our pricing. As much as I can see, ERPnext only has item prices /price lists for selling or buying. What would be the best process to implement the tracking of current market prices in ERPnext? Should we create a new doctype or just use the item price (list) doctype and customize it?

It would be important for us to track the evolution of the competitors’ prices. As there are no transactions linked to the competitors’ prices (if we used the out-of-the-box Item Price doctype), we could not recreate a price history. Did anyone face a similar issue and if so how did you solve or what would be your suggestion to address this issue?

Create a new Price List called Competitor X's Pricelist and add prices in the Item Price linked to this pricelist.


Thanks for the suggestion. But will I have access to the history of the price list this way? I think this is not implemented in ERPnext, yet?

How do you intend to capture the history of Prices? These transactions are not happening on ERPNext. Do you plan on entering the data manually? Then you will have to store the prices in Custom Doctype and do some scripting to fetch these rates on your transactions in a child table for your reference