Setup Step: 17 - Basic Pricing
The Basic Pricing component of Oracle Order Management provides the capability to price orders according to price lists, pricing formulas, or agreements. You can also apply discounts, control the lowest level price that may be given in order to
comply with General Services Administration Agency (GSA) regulations, and apply freight and logistics related charges to orders.
The ordering process leads to:
- Shipping of goods
- Invoicing of customer
- Receipt of cash and reconciling of the bank statement.
The customer hierarchy in Basic Pricing enables you to roll up individual customers according to the following structure:
■ The sold-to organization
■ The ship-to organization
■ The bill-to organization
■ Customer Class
You can use elements of the customer hierarchy as defaults to control the operation of price lists and modifiers.
The pricing engine is the program module called by Order Management that prices the order as orders are entered or order data changed.
The pricing engine works through open APIs to provide the pricing results to the calling application. It consists of a search engine and a calculation engine. From the pricing request, the pricing engine evaluates the appropriate modifiers and price lists, resolve incompatibility issues, retrieves the list price, and calculates the unit selling price and adjustments. The search engine receives pricing information from entities like price lists, modifier, qualifiers, formulas, products and pricing attributes.
API For updating Sales order price
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