Modifiers let you define the price adjustments, freight charges, promotional free items.

Modifier List types can be Deal, Discount List, Freight and special charge list, Promotion and Surcharge List. You can create a eligibility rule for each modifier to ensure these price adjustments are applied only when eligibility conditions apply.

Each modifier list can have modifiers (lines) and you can set different line level qualification criteria. Modifier lines can be of types – Discounts, Surcharge, Other item discount, promotional goods, term substitution, Item upgrade, Coupons, Freight charges.

Navigate to Oracle Pricing Manager responsibility -> Modifiers -> Modifier Setup.

1 ) Enter the Modifier List type

2 ) Enter the name of the modifier list

3 ) Enter the modifier list number

4 ) Check/uncheck ‘Active’ and ‘Automatic’ flags

5 ) Enter the currency

Click on ‘List Qualifiers’ to select previously defined qualifier group or create a new qualifier group.

Click on ‘List Limit’s to setup limitations on the modifier to prevent major misuse of modifier.

Click on the like level to define the modifiers.

1 ) Select the modifier type at line level

2 ) Enter effective dates

3 ) Check / Uncheck the flags (Print on Invoice, Automatic, Override)

4 ) Set the additional applicable rules like item or item category for which this modifier to be applied.

Click on ‘Line Limits’ to setup line level limitations to prevent misuse.

Click on ‘Exclude’ to exclude some items to have this modifier applied.

Click on ‘Line Qualifier’ to have additional line level qualifier criteria.

When price list is setup with formulas it can be setup as ‘static calculation’ or ‘dynamic calculation’. For static calculation you must run the background concurrent program to update prices, for dynamic calculations pricing engine can calculate the price real time.

This functionality is used to update static list price calculations.

Navigate to Oracle Pricing Manager responsibility -> Pricing Formulas -> Update Formula Prices.

1 ) Check the check box to run for new and modified price list lines only.

2 ) Select whether to update all pricing formulas or specific formula, if specific formula is chosen then select the pricing formula name.

Click ‘Submit’ to launch the concurrent program. This program updates all static pricing formulas.

One of the important feature of Advanced Pricing is Pricing formulas.
Formulas are mathematical equations to derive the list prices. You can attach a price to  price list line or you can enter a formula the retrieves the price dynamically when pricing engine is called.

Navigate to Oracle Pricing Manager responsibility -> Pricing Formulas -> Formulas Setup

1 ) Enter the formula name
2 ) Enter the description of formula
3 ) Enter the effective dates for the formula
4 ) Enter Formula. Formula is entered based on step numbers.

Navigate to formula lines
Enter the formula type, pricing attribute context, pricing attribute, component and step number.

Once Formula is created you need to run a concurrent program ‘Build Formula Package’ to generate the formula package.