Capabilities Summary (Price Flexibility)

Capabilities

Product price recalculation based on defined triggers
Available triggers
- New product added
- Product updated (generally a change of product attribute values) – either in the table Products or Product Extension. Examples of changes:
  - Product Life Cycle state
  - New color for a product
  - New cost
  - New competitor information

Limitations:

The destination price list (where price changes are finally stored) should not be used for recalculation, only as storage of the prices.

How It Works

Changes in data are detected.
Product is added to a special LPG and recalculated.
"TODO" item is created for a user so they know they have to approve the price modifications.
New price is approved/denied in the special LPG (by users or automatically based on rules).
Note: this is not a feature of the Price Flexibility accelerator.
Approved product price is deployed/updated in the existing price list.
Product is removed from the special LPG.

Audience

Technical Admin – Installation and initial setup of the accelerator.
Business Admin (likely Pricing Manager) – Setup of the triggers which trigger recalculation.
Business User (likely Pricing Managers) – Receives the TODO notifications, approves/denies the new prices.

User Stories

Automated Price Recalculation

I want to recalculate Products based on specified conditions (e.g., new cost, change of product lifecycle state, new product, product with a new color, etc.),
so I can ensure up-to-date prices and reduce price stagnation.

New Price Verification

I want to create a ToDo for people responsible to verify the change of price,
so I can bring attention to the responsible/designated approver to review price changes.

Price List Refresh

I want to update the relevant price list with the newly approved price(s),
so I can allow approved price items to be published and denied price items to stay without a price update.