A Live Price Grid (LPG) is used when you need to handle a large number of products with rapidly changing prices, e.g., in an e-shop. In LPG prices are recalculated every day or even several times a day – this is a direct contrast to Price Lists which are calculated only once (see a detailed comparison of price grids and price lists).
A Live Price Grid:
- Is a collection of products to which a Pricing Scheme has been applied.
- Contains dynamic data and each row (product) in the grid can be updated at any given time (manually, in Excel Client or via integration). This way it is possible to manage the price of a large number of products with rapidly changing underlying data upon which the price depends (Company Parameters and Product Extensions).
Includes auto-approval of prices and approval workflow and offers a data-rich user interface in order to allow the seller/product manager to make an informed and rapid decision.
- Is intended for storing active prices; whereas future prices are best to be stored in a Price List and historical prices in the Analytics module. It is not recommended to store all three types of prices in LPGs.
This section contains the following topics: