arc rentals chapter 3 - rental period, making a book a ... · pos, and insite. there also is a flag...
TRANSCRIPT
MBS ARC (Textbook) Manual
Preparing Rentals
Preparing rentals involves three primary steps:
1. Create the Rental Period
2. Flag Books for Rental
3. Create Rental Quote
Book flags for rental books are indicators that verify the book is allowed to
be rented for the store, term, on POS, and/or on inSite. Depending on the
type of books rented, book flags can be set manually while working with the
textbook or they can be flagged while working with a rental quote. Rental
Quotes also provide options for setting rental prices.
A Rental Quote is a list of books currently adopted with estimated sales. This
list is provided to wholesalers such as MBS. The wholesaler will review the
adoptions listed on the rental quote. The wholesaler then determines if the
titles have value to purchase from the store at the end of the term. A
response will be sent to the store that indicates which books can be bought
and the purchase quantity along with the dollar amount (or rebate price) the
wholesaler will pay.
A rental period must be created before books can be rented and rental
quotes created.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 2 OF 52
Table of Contents
Maintain Rental Period........................................................................... 3
Rental Flags: Book Level ....................................................................... 7
Make Title Available for Rental: During Adoption .................................... 7
Make Title Available for Rental: Work with Textbooks ........................... 10
Rental Quotes for Wholesalers .............................................................. 13
Create Rental Quote ........................................................................... 14
Working with the Quote List .............................................................. 17
Delete Title from Rental Quote .......................................................... 18
Exclude Title from Rental Quote ......................................................... 19
Books Adopted but not Quoted .......................................................... 22
Create a Rework ................................................................................. 23
Sending and Processing an MBS Rental Quote ........................................ 24
Send an MBS Rental Quote ............................................................... 24
Process the MBS Quote Response ...................................................... 27
Sending and Processing a Non-MBS Rental Quote ................................... 29
Send a Non-MBS Rental Quote .......................................................... 29
Importing Quote Response ................................................................ 32
Process a Non-MBS Rental Quote ....................................................... 35
Rental Pricing ..................................................................................... 38
Recalculate Rental Shelf Prices for Multiple Quotes ............................... 41
Additional Update Rental Info Options ................................................... 43
Manually Change Rental Flags from Quote .......................................... 43
Roll Thru Titles with Responses .......................................................... 46
Keep at Store Feature ......................................................................... 48
Rental Quantities to Keep at Store ..................................................... 50
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 3 OF 52
Maintain Rental Period
Rental periods indicate the term is valid for rentals. Books adopted within
this rental period can be rented at POS and on inSite. Serialized rental books
also can be reserved (if applicable).
Creating a rental period requires that a textbook term has already been set
up in Control Files > Maintain Term Options. The rental period is often
created before working with adoptions so books that need to be set as allow
rental without a rental quote can be flagged.
Rentals > Rental Periods
1. Click Add Rental Period.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 4 OF 52
Enter the fields as needed. New Term and all dates are required.
Term — Enter the textbook term for the rental period as it was entered
when setup in Maintain Term Options.
Previous Rental Term — If titles were rented in the preceding term, enter
the term information here.
For example, S17 might be entered into Previous Rental Term when setting
up F17 rental period information. Books rented in the previous term (S17 in
this example) will display rental quantity and returned quantity on the
current term’s Order Quantity Edit screen (F17 in this example).
A keep at store option is available to indicate the number of previously
rented books the store wishes to keep rather than sending on a rental quote.
Rental Start Date — Enter the date to start selling rental textbooks. The
textbook term needs to be active for sales and for PLUs to ensure books can
be rented on the selected date.
Rental Cutoff for Term — Books will no longer be available to rent after
this date, but will continue to be available to refund or return.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 5 OF 52
Rental Due Date — This is the final day for students to return rental books.
This date will associate with Non-Serialized titles and print on the receipt
detail as the due date. It also shows with the book on inSite and in the
customer’s Rental History.
Date to Remove Rental Term from POS — After this date, the rental
term will be removed completely. Returns and refunds cannot be processed.
Students returning overdue books will be charged for the title.
2. A message appears at the bottom of the window: “Rental period for term has been added. Continue.”
3. Click Go Back. The rental period now appears among other periods.
The “Overlapped by…” message will display in a term’s row if another term is
still ongoing when rentals sales begin. For example, D17 shows it is
overlapped by F16. Processes like rental sales, refunds, and/or returns could
take place for both terms until the overlapping term ends.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 6 OF 52
These other helpful options (bulleted below) are available on the listing of
rental periods:
• Rental Periods can be modified using the work with option Modify Rental Period.
• If a rental period is created in error, you can delete it using Clear Rental Period as long as the Activity Exists column shows “No.”
• Work with Rental Books displays titles allowed for rent in a store and will show Serialized Rental reserve, total serials, and total serials
rented.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 7 OF 52
Rental Flags: Book Level
As books are adopted, the options to flag the book to allow rentals for store,
term, and on POS/inSite can be selected. Books flagged through this method
will be rentable regardless of a rental quote response.
If only books with rental quote value will be rented, rental flags are best
selected using the wholesaler’s quote response.
Make Title Available for Rental: During Adoption
Two main areas contain rental flags when working with an Adoption:
1. Maintain/Update Book Information provides an Allow Rental activation
option.
• This displays the rental option in the local database when Allow
Rental is set to “Yes.” A book with Allow Rental flagged to “Yes” also has the potential to be rented for this term and/or future
terms.
• Books with Rental History should have Allow Rental set to “Yes”
even if no longer renting the title. This ensures that store/term
history shows rental information.
2. The Inventory screen provides a “Reserve Rentals” menu where
allowances for term, POS, and inSite exist. This step must be completed before flipping the Allow Rental flag to “Yes”. If the book is
not allowed for rental in that store, the “Reserve Rentals” menu is not available.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 8 OF 52
To set the Allow Rental Flag, navigate to the Book Information screen during
an adoption or from the Maintain Book Information menu.
1. Click the “Yes” bottom next to “Allow Rentals?” to allow that textbook to be rented. Click Save.
2. A message appears at the bottom of the screen: “Record updated. Continue.”
What the Allow Rental flag does:
• It makes the title a rental on the Local Database.
• Rental history is displayed in Adoption History.
• The rental title is accessible under Textbook Rentals > Rental Textbooks.
• The title displays Rental Shelf Price in Book Information and Prices if using a pricing margin for rentals.
NOTE: “Allow Rentals?” is also set to “Yes” when a rental quote response is
processed. “Allow Rentals?” and other rental options can be set at Rental
Quotes > Update Rental Info/Exclude Titles > Highlight first title > Click Roll
Through Titles.
To set the Reserve Rental flags navigate to the Inventory screen: Order
Quantity Edit > Inventory during the adoption, or Inventory Option from the
adoption list in Maintain Adoptions.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 9 OF 52
1. Reserve Rentals will display if the book is flagged as Allow Rentals on the Update Book Information screen, and if the title is adopted for the
current term. Click Reserve Rentals.
2. The options to allow rentals appear as a series of Yes/No questions.
Answer these questions to allow rentals.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 10 OF 52
Selecting “Yes” results in the following actions:
Allow Rentals for this Term — This flag notes that this book will be used
for this term. Yes must be selected to rent titles at POS and on inSite.
Allow … Non-Serialized Rentals at POS for this Term — Yes on these
two options allow New/Used non-serialized rentals to be purchased on MBS
POS. To rent New or Used and not both, click Yes only to the class you want
to rent.
Allow Serialized Rentals on inSite for this Term — Selecting Yes allows
the purchase of any serialized inventory on inSite. It is recommended to not
rent both serialized and non-serialized for the same title. Click No if the title
is non-serialized.
Allow … Non-Serialized Rentals on inSite for this Term — Yes on these
two options allow New/Used non-serialized rentals to be purchased on inSite.
To rent New or Used and not both, click Yes only to the class you want to
rent.
3. Click Save after answering the questions. Exit or click Previous to
continue searching.
At this point the book is ready to be rented in the upcoming term once the
term is active for sales and a PLU is sent.
Make Title Available for Rental: Work with Textbooks
Once adopted, the term book list displays in Work with Textbooks. The
majority of book screens and “work with” options are available in Work with
Textbooks. An additional option called Update Rental Info also is available.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 11 OF 52
1. Highlight a title and Click Update Rental Info.
2. If the book is not currently set to Allow for Rentals in Book
Information, the following screen appears.
A summarized book information screen displays with the option to flip the
Allow Rentals for Book Information.
The bottom of the screen displays vendors with active rental quotes for this
term. If this title is included with a response on a rental quote, the Response
column will show the number of units that can be sold.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 12 OF 52
3. Select “Yes” next to Allow Rentals, then Click Save to continue.
4. The Rental Flag options display to turn on Rentals for Store, Term,
POS, and inSite. There also is a flag to Display Rental Price on inSite and Allow Serialized Rentals on inSite (if applicable).
5. Select “Yes” to Allow Rentals for this Store, Term, and POS/inSite to ensure the book will be rentable in this term. Click Save.
6. A message will appear stating “Rental Indicators were updated. Continue.” Click Save again to return to the list of titles in Work with
Textbooks.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 13 OF 52
Rental Quotes for Wholesalers
The Rental Quotes feature in the textbook rental application is an integral
part of a successful rental program.
• These quotes contain the term’s book list and estimated sales information for each title. The title does not need to be selected as
allow rental to display on the quote.
• The quote is sent to a wholesaler such as MBS. That wholesaler will
review the book list to determine if any title can be purchased. The wholesaler will send the quote back to the bookstore with the buy
quantity and selling price for each title.
• The wholesaler will buy rental books from a store regardless of where
the book was bought. When returned by students at the end of the
term, the quoted books are shipped to the quoting wholesaler.
An approximation of submission dates:
• For summer term (start late May), quote list submitted late Feb of same year.
• For fall (start mid-August), submitted mid-June of same year.
• For spring (start mid-January), submitted Nov of previous year.
MBS rental quote availability dates will be publicized by client
representatives and via the Message Center on ARC.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 14 OF 52
Create Rental Quote
Textbook Rental Application > Rental Quotes
1. Click New Quote.
2. Highlight the wholesaler being sent the quote and click Select.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 15 OF 52
The Store, Term, and Vendor all display based off of previous selections.
The remaining information is required. Enter the dates the same as the
dates are entered when setting up the rental period.
Start Date —Indicates when rentals will start being sold for this term.
Last Course Add/Drop Day — The last day to add or drop a course for the
term. This is a required field.
Last Day of Finals — Should mirror the last day of the school term and is
typically the rental returns’ due date. This date is used to determine the
maximum amount of time before a rental quote must be shipped. Most
wholesalers require rental shipments completion 14 days after this date.
Email Address — Enter the quote recipient’s email address. For MBS rental
quotes, an email will be sent once the quote is ready to be processed.
3. Click Save. An acceptance note appears. Return to the quotes listing
with Go Back or Save. The new quote will be on the list with a status of “Building Request.” Click Refresh Quote Status from the Options to
verify quote generation.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 16 OF 52
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 17 OF 52
Working with the Quote List
Building the rental quote creates a list of all the books adopted with
estimated sales. This list can be edited prior to sending the quote to delete
titles. It also can be edited to enter Requested, Response Qty, and Price
prior to loading a quote response. If a quote response is already loaded,
these options become available again if doing a rework. Exclude a title
before deletion so the title will not appear on future reworks.
Rentals > Rental Quotes
1. Highlight the quote and click Work with Quote List. The screen will display the book list with the Request Quantity, Response Quantity,
and book information.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 18 OF 52
2. To edit the Request Quantity, or to manually add a Response Quantity
and Price, highlight a title to edit and click Update. Enter the changes and click Save.
Fields that can be changed include:
Requested – This number automatically fills from the rental quote creation
and pulls from estimated sales. It can be decreased or increased.
Response Quantity — Manually enter the quantity from the wholesaler’s
rental quote response. This option only should be used if you are not
processing the quote automatically through the system, or if you are making
a manual change to a current response.
Price —Enter the price the wholesaler will pay per unit for this title. Use this
if you are not processing the quote automatically through the system, or you
are making a manual change to a current response.
Delete Title from Rental Quote
A title deleted from a rental quote will reappear on the quote if the quote is
reworked. The title must be excluded to ensure it does not reappear on the
quote.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 19 OF 52
Work with Quote Lists
1. To remove a title from ONLY this rental quote request send, highlight
that title and click Delete Title. You will be asked to confirm the delete.
Exclude Title from Rental Quote
To hide titles on a rental quote request for this term, exclude the title first.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 20 OF 52
1. Highlight the rental quote and click Update Rental Info/Exclude Titles from the Additional Options.
2. Highlight the title to remove and click Exclude from Quote. The
Exclude Title column will change from No to Yes for that title.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 21 OF 52
3. Click Go Back to Work with Rental Quotes. You can either Work with Quote Lists to Delete Title off the rental quote if the quote has not
been sent, or Rework Quote Request to reprocess the book list.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 22 OF 52
Books Adopted but not Quoted
Some adopted titles may not generate on a rental quote. These include:
• Custom Titles not in the MBS Database (if sending a quote to MBS).
• Titles not merged to the MBS Database (if sending a quote to MBS).
• eBooks and other Digital Content.
• Books with no Estimated Sales.
Custom Titles and non-MBS database titles will display on non-MBS quotes.
Custom Titles can be removed and excluded from future quotes.
Books that are not matched to the MBS Database can be merged.
Print the Merge Print by ISBN Report (Reports > Enter Report Requests >
Merge Print by ISBN) and use Merge Book Data on Maintain Book
Information. More information on merging book data can be found in ARC
Textbooks Chapter 3 – Course and Book Adoptions.
Books that currently do not have estimated sales can be added through a
later rework to the rental quote.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 23 OF 52
Create a Rework
Reworks refer to regenerating the book list on a rental quote so updates for
new book adoptions, estimated sales, and book exclusions apply to the
quote prior to transmission or rework.
1. Highlight the quote and click Rework Quote Request. A message will display at the top of the screen stating the batch “was submitted to
Rework Rental Quote”.
2. Click the option to Refresh Quote Status to show the rework update.
A book was excluded, so the requested amount decreased from 50 to 49
titles.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 24 OF 52
Sending and Processing an MBS Rental Quote
The steps for creating a rental quote are the same regardless of wholesaler.
There are few differences however when sending quotes and processing
responses.
Send an MBS Rental Quote
Rentals > Rental Quotes
1. Highlight the rental quote and click Transmit/Export Request Info. A message displays stating the batch “was submitted to transmit Rental
Program Requests.” A quote transmit confirmation document is sent to
the document center.
2. Quote status is Transmitting Request. Refresh Quote Status from the
Options, and the status changes to Awaiting Response.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 25 OF 52
A response will be ready within 24 hours, and an email will be sent verifying
the quote is ready for processing. This email is sent to the email address
entered when the quote was created. A separate email will be sent with a
PDF and Spreadsheet (excerpts of both are below) of responses for the
rental book list.
The quoted value is based on a percentage of estimated shelf price, and it
can be up to 46% of the estimated shelf price.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 26 OF 52
Many stores will set a static pricing structure for their rental titles. If you
need assistance with setting rental margin pricing, please contact your MBS
Client Representative.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 27 OF 52
Process the MBS Quote Response
Once the email confirmation has been received (stating that the rental quote
response is ready), it can be processed into the rental program.
Textbook Rental Application > Rental Quotes
1. Highlight the MBS Rental Quote and click Process Response. The
following screen appears.
2. Answer the Pricing Update options and the Yes/No questions based on
your preference.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 28 OF 52
Calculate Rental Price Using…
• No Recalculation — No update to the rental price in Book Information for titles with responses. Rental Price will remain blank if no previous
price was entered.
• Store Rental Price Defaults — Rental minimum margin recalculates the
rental price for books with responses. The margin uses a percentage of the new shelf price to create the new rental price, and a percentage of
the new rental price to create the used rental price.
• Shelf Price less Quote Price — This method subtracts the Shelf Price for
New and Used textbooks by the Quote Price to create the New/Used
Rental Price. For example, a book with a $100 New Shelf Price has a Quote Price of $46. The New Rental Price would be $100 - $46 = $54.
Update Rental Flags…
• on title quoted for Store/Term — “Yes” will flag all books with
responses as Available to Rent on the store level (in Maintain Book Information) and the term level (in the Reserve Rentals option in
Inventory for each title).
• Allow … non-serialized Rentals at POS for this term — “Yes” on these
two options set the Reserve Rentals option to allow new/used non-serialized rentals to be rented at POS.
• Allow Serialized rentals on inSite for this term — Click “Yes” only if renting books that have been serialized on inSite, and if those titles
were on the rental quote.
• Allow … non-serialized rentals on inSite for this term — “Yes” on these
two options set the Reserve Rentals option to allow new/used non-
serialized rentals to be rented on inSite.
3. After selecting Yes/No on the rental flags, click Save. A message will appear at the bottom of the screen stating “The record was updated.
Continue.” Click Save to continue.
You are returned to the Work with Rental Quotes screen, and a message
verifies “Job… was submitted to receive responses from MBS.” The
responses are loaded and can now be viewed.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 29 OF 52
Sending and Processing a Non-MBS Rental Quote
Due to the nature of non-MBS wholesaler rental quotes, these do not have a
way to directly be sent electronically from ARC. Instead, an added option
exists to retrieve a spreadsheet version of the rental quote when the request
to send the quote is completed.
Send a Non-MBS Rental Quote
Rentals > Rental Quotes
1. Highlight the wholesaler’s rental quote and click the menu option to
Transmit/Export Request Info. Status changes to Exporting Request, and the Print Document Ready box displays by the printer icon.
2. Go to My Documents and locate the report named QUOTEREQ.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 30 OF 52
3. Preview Document or Download & Remove.
4. Depending on your web browser, you will either be asked to open the
file in Excel or download the file. In some browsers, the file will download immediately. If downloading, click on the download to open
the spreadsheet.
5. Save the spreadsheet to an easily retrievable file location (such as Desktop). The rental quote response needs to be in a format of .CSV,
so save the file in this format.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 31 OF 52
6. Send the spreadsheet to the wholesaler via email or best method.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 32 OF 52
Importing Quote Response
The majority of wholesalers that provide rental quotes will send a response
also in a spreadsheet format. If not, the spreadsheet saved to send to the
wholesaler can be used as a template.
Prior to importing the quote, verify the spreadsheet response is in the
correct format and there are no noticeable data errors. Check the following:
• The spreadsheet is saved to your computer in a .CSV format.
• All columns are present and in the correct order:
o Column A = Author
o Column B = Title
o Column C = ISBN
o Column D = Request Qty
o Column E = Response Qty
o Column F = Rebate Price
• Response Qty is required. If a vendor does not restrict a Response
Qty, it is recommended to use the Request Qty.
• ISBN is a valid number. Sometimes, the response will come in showing
an ISBN as “9.78008E+12”. To ensure this is a valid number, click the ISBN and validate that the in the entry field (next to “fx” in Excel) is a
valid ISBN.
o The ISBN column can also be changed to a Number format if it is
currently set to General or another format. If changing the
column to a number, be sure to set the number format to not have any decimals.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 33 OF 52
Once the spreadsheet has been verified, it is ready to be imported into
rentals.
1. To import the file, go to Textbook Rentals > Rental Quotes. Highlight the vendor and click Import Quote Response.
2. A separate browser tab opens for uploading the response.
3. A listing of the column order requirement and a sample rental quote appear in this section. Click Choose File to select your rental quote for
upload.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 34 OF 52
4. After selecting your rental quote response file, the quote will display
next to the Choose File button. Click Upload Quote Response to pull the response into ARC. A File Uploaded Successfully message will appear after
uploading.
5. Click OK to close. The quote is now ready to be processed.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 35 OF 52
Process a Non-MBS Rental Quote
Rentals > Rental Quotes
1. Highlight the quote and click Process Response.
2. If errors exist in the response, those will be shown. You can Print
Errors to review them and correct them on your Excel listing, or you can Continue Processing. Note that errors could be caused by non-
book items without ISBNs, spacing of blank lines, or other book types that would not have a rebate price.
3. If errors are listed because of spaces or items without a rebate price, click Continue Processing.
4. A list of titles and prices will display. Confirm Update of Prices from the Tasks bar to continue the processing of the response. If an error
message occurs, contact your Client Representative for assistance.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 36 OF 52
5. The option to flag rental books from the quote response will display. Respond “Yes” or “No.” Pricing changes also can be changed to either
account for quote price or not. Click Save.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 37 OF 52
Calculate Rental Price Using…
• No Recalculation — No update to the rental price in Book Information for titles with responses. Rental Price will remain blank if the previous
price was not entered.
• Store Rental Price Defaults — Rental minimum margin recalculates the
rental price for books with responses. The margin uses a percentage of the new shelf price to create the new rental price, and a percentage of
the new rental price to create the used rental price.
• Shelf Price less Quote Price — This method subtracts the Shelf Price for
New and Used textbooks by the Quote Price to create the New/Used
Rental Price. For example, a book with a $100 New Shelf Price has a Quote Price of $46. The New Rental Price would be $100 - $46 = $54.
Update Rental Flags…
• on title quoted for Store/Term — “Yes” will flag all books with
responses as Available to Rent on the store level (in Maintain Book Information) and the term level (in the Reserve Rentals option in
Inventory for each title).
• Allow … non-serialized Rentals at POS for this term — “Yes” on these
two options set the Reserve Rentals option to allow new/used non-serialized rentals to be rented at POS.
• Allow Serialized rentals on inSite for this term — Click “Yes” only if renting books that have been serialized on inSite, and if those titles
were on the rental quote.
• Allow … non-serialized rentals on inSite for this term — “Yes” on these
two options set the Reserve Rentals option to allow new/used non-
serialized rentals to be rented on inSite.
6. Rental list displays once more to review, but the message at the bottom will show Job… was submitted to process response. Continue.
Click Save to continue and finish the upload.
7. The rental books updated from the quote are now showing with
responses in Work with Rental Quotes.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 38 OF 52
Rental Pricing
Renting textbooks provides the option to sell the rental to a student at a
lower price point than the retail dollar amount. Rebate value from Rental
Quotes, renting the same title for multiple terms, and charging students for
non-returned rental books guarantees the rental profit margin can be closer
to the value of the title if sold as a new or used textbook.
Rental prices can be maintained using:
• Minimum Margin — A percentage is set up for rental shelf prices based on the New Retail Inventory Shelf Price. Your Client Representative will
assist you with setting up the rental margin.
The margin is set first by establishing a percent of New Shelf Price for New Rental. The used margin is then set as a percent of the New
Rental Price for Used Rental.
• Competitive Pricing — Competitive pricing software can be used to set both shelf prices and rental prices. Additionally, a competitive lock-in
price can be set for both shelf price and rental price under the Pricing menu using Enter Competitive prices.
• Manual Entry — A price can be entered manually for a title under the For Rental area in the Pricing Menu.
Work with Textbooks > Pricing
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 39 OF 52
• Shelf Price Less Quote Price — When loading a rental quote, an option is available to subtract the rebate value for a textbook from the
New/Used Shelf Price to calculate the Rental Price. This method is designed so that the rental shelf price and rental quote rebate will
provide the same value as selling the book. This option can also be used to select the best price from multiple wholesaler quotes.
An example for rental pricing is as follows:
Publisher Price: $75 (New Book Cost)
Wholesaler Cost: $50 (Used Book Cost)
New Retail: $100
Used Retail: $75
Rental Rebate Price: $46
In the above example, pricing for rental shelf price may be:
• Margin (for this example 54%)
o New Rental Price: $100 (new retail) X 54% (margin) = $54
o Used Rental Price: $54 (new rental) X 54% (margin) = $29.16
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 40 OF 52
o Note that the percentage you use for margin will be the
percentage used on books with multiple rebate percentages. A book with 46% rebate value and a book with a 12% rebate value
will both use the same percent of the New Shelf Price to calculate the rental price.
• Shelf Price less Rebate Price
o New Rental Price: $100 (new retail) - $46 (rental rebate price) =
$54
o Used Rental Price: $75 (used retail) - $46 (rental rebate price) =
$29
o Since this takes the actual retail price and rebate price into
consideration, the rental price plus the rebate value will always equal the original retail amount.
• Manual Price Adjustment/Competitive Prices
o New Rental Price
� Lowest Threshold (rent at cost): $29.01 (cost of new
textbook, $75 (used retail), minus rebate value of $46).
� Highest threshold: $74.99 (to stay below Used Textbook
Retail).
o Used Rental Price
� Lowest Threshold (rent at cost): $4.01 (cost of used textbook, $50 (used book cost), minus rebate value of
$46).
� Highest Threshold: $74.98 (to stay below New Rental Price
threshold).
While the thresholds demonstrating possible low and high rental prices
represent extremes, they do reveal the unique aspect of rentals. Books can
be rented below cost, and retail profits can still be achieved due to rental
quote rebates.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 41 OF 52
Recalculate Rental Shelf Prices for Multiple Quotes
Since Shelf Price minus Rebate Price is the most accurate way to achieve
total retail value for a title, there is an option to generate rental prices based
on the highest quote value.
Rentals > Rental Quotes
1. Click Recalculate Rental Shelf Prices from the Additional Options list. A
confirm screen displays.
2. Click Confirm Recalculate to change the rental price for all books with a rental quote response equal to Retail Shelf Price minus Highest
Quoted Rebate Price.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 42 OF 52
3. The screen returns to the Rental Quotes main screen. A report is sent
to the document center with updates from this process.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 43 OF 52
Additional Update Rental Info Options
Manually Change Rental Flags from Quote
Rental flags can be changed to Yes or No when processing a rental quote
response. However, the Rental Quote Menu also includes the option to flip
these rental flags manually without navigating to specific book screens. This
can be done prior to a rental quote response and after a response has been
processed.
Whenever a rental flag is manually flipped, the system will remember that it
was a manual change. If you process a new rental quote response and flip
the rental flags differently on the quote response, it will not modify your
manual updates.
Below are the options for manually updating the rental flags for books that
were sent on a rental quote and/or received rental quote responses.
Rental Quotes > Work with Rental Quotes
1. From the Tasks bar, click Update Rental Info/Exclude Titles.
2. Highlight the title to update and click Select. You can highlight and select multiple titles or search for a specific title. A red asterisk will
appear next to the Exclude Title column once the title is selected.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 44 OF 52
3. Click Updated Selected Items.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 45 OF 52
4. The first selected title will show, and the rental flags can be updated.
Click Save keep your changes. Click Save again to roll to the next selection. If there are no additional selections, you will be returned to
the previous screen.
These steps can be conducted at any time after a rental quote is first
generated. A response is not required to display titles, nor is it a
requirement to Update Selected Items.
Once a quote has been processed, you can roll thru all titles that had
responses from the vendor if you choose. The option to Roll Thru titles with
responses is on the Tasks bar in the Update Rental Info/Exclude Titles
screen. If the title has been flagged as a rental on the store level, you will
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 46 OF 52
only be asked to answer rental questions. If it has not been flagged to allow
rental on the store level, you will first be asked to Allow Rentals, then flag
the rental questions.
Roll Thru Titles with Responses
Rental Quotes > Update Rental Info/Exclude Titles
Roll Through Titles is a tool to ensure rental flags are flipped for titles you
wish to rent after processing a response. This is especially useful if the rental
indicator flags to allow rentals for the store and term were not selected when
processing the quote response. Any title with a response can be rolled
through in order by Author Title and the rental flags can be selected or
verified using this process.
1. Click Roll Through Titles. Any title with a rental quote response will
display.
2. If the book is not already flagged as a rental on the store level, the
following screen appears first to select the book as a rental.
3. If the book is already flagged as a rental on the store level, or after
selecting Yes to Allow Rentals if the book was not previously flagged, the following screen will appear:
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 47 OF 52
4. Update the rental flags as needed and Save. The next title will display to be updated. Once all titles with responses have been viewed, you
will be returned to the Update Rental Info/Exclude Titles screen.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 48 OF 52
Keep at Store Feature
When the rental period is set up, a previous rental term can be entered. This
previous term’s total rentals and returns display on the new term’s Order
Quantity Edit screen.
Order Quantity Edit (Fall 17, displaying Previous Rental Term S17)
• An option also exists for titles rented in the previous term to enter a
number of Rentals to Keep at Store. The number of rented books entered in Rentals to Keep at Store will show up as a Keep at Store
title on rental shipments, even if the book had a rental quote.
• Since these titles are expected back in inventory, the Withhold from
Order field is also moved to below Rentals to Keep at Store. Withholds can be entered to lower Open to Buy based of previous term rentals.
• These options display on any Order Quantity Edit screen regardless of where it is generated (Adoptions, Work with Textbooks, Roll-Thru’s,
etc.).
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 49 OF 52
They can also be modified from the Rental Quotes menu by generating
a list of all books rented in the previous term that are readopted in the
new term.
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 50 OF 52
Rental Quantities to Keep at Store
Rentals > Rental Quotes (select Previous Term)
1. Validate the term is the Previous Rental Term, then click Rental Quantities to Keep at Store from the Additional Options.
2. A window appears confirming the term to check for re-adopted titles.
Click “Yes” or “No” on the selection questions as needed.
The Rental Term is the Previous Rental Period, and the term it is tied to is
the Term to Check for re-adopted titles.
Default the current rented quantities as the Keep at Store quantities
for the re-adopted term? — “Yes” will automatically add the total rented
units for the previous rental term (S17 in the above example) into the keep
at store field in Order Quantity edit for the re-adopted term (F17 in the
above example).
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 51 OF 52
Add the amount entered as Keep at Store to the withhold from
Ordering in the re-adopted term? — “Yes” automatically takes any
quantity in Keep at Store and puts that quantity into Withhold from Order.
This will lower Open-to-Buy for that title by the Keep at Store amount.
If “No” is selected for these questions, the Keep at Store and Withhold fields
can still be edited manually.
3. Once the questions are answered as needed, click Save. A list of all titles rented in the previous term (S17) and are re-adopted in the new
term (F17) display.
The table displays any quantities being kept and/or withheld so far as well as
the Rent Qty and Return Qty for each title. Estimated Sales also displays.
Titles can be worked with by selecting:
Update Keep Qty — Select a single title and click Update Keep Qty to work
with that title’s Order Quantity Edit information and update keep and
withhold amounts.
Roll through All — Review and update keep and withhold amounts for all
titles by rolling through them automatically by Author/Title.
Roll through New Adoptions Only — Only displays titles to edit keep and
withhold amounts that were not reviewed on the previous Roll Through.
4. Select the needed method for review of the title(s).
ARC Rentals – Rental Period, Rental Flags, Rental Quotes MBS Systems
MBS TEXTBOOK EXCHANGE, LLC PAGE 52 OF 52
5. Update Rentals to Keep at Store and Withhold from Order as needed, then click Save. Books set to Keep at Store will display as a kept title
when working with rental quote shipments and rental scanning, and units withheld will lower Open to buy.
If more titles are rented and returned then what was entered in Rentals to
Keep at Store, the units not being kept will be on the rental quote shipment.