Summary:
Enable users to create a single blended rate in Rate Builder by combining weighted percentages from multiple labor categories. This allows pricers to define and manage blended labor assumptions directly in the system rather than calculating them externally.
Problem Statement:
Currently, pricers who need an averaged rate across multiple labor categories must calculate the blended rate outside of Rate Builder and then manually enter the result. This is inefficient, reduces traceability, and makes ongoing updates harder when any underlying labor category rate changes.
Proposed Solution:
Allow users to build a blended rate by selecting multiple labor categories and assigning a percentage weight to each one. The system should calculate the final blended rate automatically based on the defined weights and current component rates. Users should be able to easily adjust percentages, ensure the total weighting is valid, and maintain visibility into how the blended rate was derived for future updates and audits.
Benefits:
Improves efficiency by eliminating manual external calculations.
Increases traceability by keeping blended rate logic within Rate Builder.
Makes updates easier when component labor rates change.
Reduces the risk of errors from hardcoded or manually maintained blended rates.
