This exercise will summarize the Optimized Pricing Guidance Results for Product Recommendation approach used in your quotes for cross sell and up sell opportunities.
Today you are a Pricing Analyst, and you must determine the ideal recommended product for your sales quotes at your company.
For this exercise, you will navigate through and existing Quote with available recommended products list, identify the optimized product recommendation model used and the different conditions created in the company parameter tables (no calculations execution is required).
For adding recommended products into the quotes, there are two options available:
Using the “Add recommended product” icon that fetches results from the Optimization Recommendation model. These results are stored in the Company Parameters tables.
Using the Product Recommendation field available at the Item level that allows the user to select a quote line item and get alternatives for cross-sell, upsell products related to the selected item. These results are stored in the PFX alternate products (extension) tables.
Go to Quoting > Quotes as follows:
From the quote listing, click on the P-948-v2.1 quote:
Click on the Items tab.
Review current listed products in the quote. Click on the dropdown in the Add Items icon and select the Add Recommended Items option. Here you will use the first option to add recommended products from the optimization.
The system displays a list of recommended products to add to this quote based on the optimization model results. Notice the last column for Category Name, which displays the condition parameter where the product recommendation model results are stored.
Close the window by clicking on the “X” (top-right corner) or the Cancel icon.
Locate the Products Recommendation column and click on the “Open” icon for any of the product listed.
These are the alternative products related to the selected item coming from the Product Extension tables.
Click on the “Pricefx” icon on the top-left corner to go back to the Home page.
This section presents a deprecated functionality. The Product Recommendation accelerator is a Model Class, using model evaluations to access the results for different Pricefx capabilities. More details in Revise Product Recommendations and Usage of Product Recommendation in Quotes.
Pricing or Company Parameters are internal tables designed to store rules, conditions, and results for different Pricefx capabilities. For the Optimization and Negotiation Guidance models, these tables store the optimized results. For this example, you can see the product/customer recommendations created from the optimization model.
Click on the Company Parameters icon on the top-right corner of the window:
On the left Categories menu, click on the Price Optimizer option.
On the right side of the window, the system displays the tables associated to the Optimization process. Select the second Recommendations per Customer parameter option with active status:
You can see the recommended per customer products listed. Also review the Product Rank column used for priorities. These values will be updated during the product recommendation model execution and the values will be pulled from the logic to be displayed in the sales Quotes and Analytics.
Click on the second Recommendations per Product parameter option with active status:
You can see now the recommended per products listed. Scroll the bottom bar to the right to review the rest of the results stored.
Click on the “Pricefx” icon in the top-left corner to go back to the Home page.
Pricefx offers Product Extension tables to store alternative products to be added into the quote manually
Click on the Master Data icon in the top-right corner of the window and select the Product Extensions option.
Using the dropdown in the Category field, select the Alternative Products option:
Master tables can store products alternatives for cross sell and upsell for specific business purposes.
Click on the “Pricefx” icon on the top-left corner to go back to the Home page.
