Database configuration formula | Maximo

Formulas are introduced from Maximo 7606 on ward, which leveraged us to make calculation related things easier as we were already doing it through auto scripts.

Although it is not new after 761 release but still not very common.

There are 2 types of DB formulas; attribute formulas and Object level formulas.

Below mentioned is one example of Attribute formula in database configuration.

In this example we write a simple Excel style IF condition formula.

Formula Average Cost of an Item | IBM Maximo

(Old Balance * Old Average Cost) + (Receipt Qty * Receipt Cost) /
(Old Balance + Receipt Qty)

for example:

Old Balance: 0
Old Average Cost: $1000.00
Receipt Qty(one new item purchased): 1
Receipt Cost: $4000.00

(0 x 1000) + (1 x 4000) / (0 + 1) = 4000