Price Setting Types in Caribou Lou 14.0 aims to empower both configuration engineers (CE) and business users. For CEs, it provides a solid framework to define the creation process of Live Price Grids (LPG), Price Lists (PL), and Calculation Grids (CG), moving away from the creation wizards and configuration defaults currently in use. This new approach allows for greater customization and control, ensuring that pricing objects are created accurately and efficiently.

For business users, particularly pricing managers, Price Setting Types offer a simplified and user-friendly interface. This eliminates the need for technical knowledge, making it easier for them to create the necessary pricing objects without confusion. These upgrades empower you to shift towards an increased use of Price Lists over LPGs, as the new system streamlines the creation process and reduces the reliance on workarounds.

Understand Price Setting Types

Price Setting Types are predefined templates used in Pricefx for creating Price Lists and Live Price Grids (LPGs). These templates come with preselected headers, pricing logic, and matrix logic, making it easier and faster to set prices without having to fill in every detail manually.

Key Components:

• Header: Basic information such as the name, validity period, and description.

• Pricing Logic: Rules and conditions that determine how prices are calculated.

• Matrix Logic: Handles complex pricing scenarios like tiered pricing or volume discounts.

How to Create a Price List from the Price Setting Type

Creating a price list is a straightforward process that allows you to manage your pricing strategies effectively.

Steps:

1. Access the Price Setting Type Section:

   • Navigate to the Price Setting Type section in Pricefx.

   • Click on the "Price Lists" option.

   If you are in the Pricefx dashboard, look for the "Price Setting Type" menu on the left-hand side and select "Price Lists."

2. Initiate the Creation Process:

   • Click the "Add" icon to start creating a new price list.

   You will see a "+" or "Add" button at the top right corner of the Price Lists page. Click on it to begin.

3. Define the Price List:

   • Name: Enter a descriptive name.

   • Description: Provide a brief description.

   • Validity Period: Set the start and end dates.

   Name your price list for instance "Q1 2025 Electronics Pricing," and describe it as "Pricing for all electronic products for Q1 2025," then set the validity from January 1, 2025, to March 31, 2025.

4. Set Up Pricing Logic:

   • Choose the pricing logic, including rules and conditions.

   Set a rule for example, that applies a 10% discount on all products if the purchase quantity exceeds 100 units. Make sure that you set a rule that benefits your business as you can adjust this seasonally if needed.

5. Configure Matrix Logic (if applicable):

   • Set up a matrix for complex pricing scenarios.

   Create a matrix that offers different discount levels based on purchase volume, such as 5% for 50-99 units and 10% for 100+ units.

6. Save and Create the Price List:

   • Click the "Create Price List" button.

   After entering all details, click the "Create Price List" button at the bottom of the page to save your new price list.

7. Review and Test:

   • Ensure all details are correct and test the price list.

   Check the price list to make sure all products and discounts are correctly applied. Test by simulating a purchase to see if the discounts are working as expected.

How to Edit a Price List from the Price Setting Type

Editing a price list allows you to update and manage your pricing strategies effectively.

Steps:

1. Access the Price List:

   • Navigate to the Price Setting Type section.

   • Locate the price list you want to edit.

   In the Pricefx dashboard, go to the "Price Setting Type" menu, select "Price Lists," and find the list you want to edit. In our example we used the one named "Q1 2025 Electronics Pricing."

2. Open the Price List for Editing:

   • Click on the price list to open it.

   Click on "Q1 2025 Electronics Pricing" to view and edit its details.

3. Modify the Header Information:

   • Update the name, description, and validity period.

   Change the description to "Updated pricing for Q1 2025 electronics" and extend the validity period to April 30, 2025.

4. Adjust Pricing Logic:

   • Review and modify the pricing logic.

   Increase the discount for purchases over 100 units from 10% to 15%.

5. Update Matrix Logic:

   • Adjust the matrix for any changes in your pricing strategy.

   Add a new tier offering the discount you want. We used for this example a 20% discount for purchases over 200 units.

6. Save Your Changes:

   • Save the changes to the price list.

   Click the "Save" button at the bottom of the page to apply your changes.

7. Review and Test:

   • Ensure all changes are applied correctly and test the list.

   Verify that the new discounts are correctly applied by simulating a purchase.

How to Create a Live Price Grid (LPG) from the Price Setting Type

Creating a Live Price Grid (LPG) from a Price Setting Type can be a straightforward process if you follow the right step. A Live Price Grid (LPG) from Price Setting Types saves time by pre-filling many fields and using templates, ensuring consistency and reducing errors. It offers flexibility with editable fields and dynamic product addition.

Steps

1. Define Live Price Grid:

1. Access Live Price Grid:

   • Navigate to Price Setting > Live Price Grids

   • Click the New Price Grid Button

   • Select a Price Grid Type

   • Choose the appropriate price grid type from the drop-down menu. Provide a label for your new price grid. Based on the selected Price Setting Type, some fields will be pre-selected.

   • Click on "From template" to see details about the pre-selected fields.

   • Proceed to the next step by clicking "Continue to Products".

2. Select Products:

• Choose Products:

Select individual products or add all products in the filtered view. You can define a custom filter using a logic with Nature set to Product Input Filter. Alternatively, enter product IDs on the Text entry tab.

• Display Product Images

If needed, upload product images in the Product Detail View and enable the showProductImagesInPriceBuilder feature flag.

2. Click Select Filter or Select

3. Finalize your product selection.

3. Set Parameters:

1. Review Pre-Selected Fields:

Fields will be pre-selected based on the chosen Price Setting Type.

• Click “From Template” to see all details about the pre-selected fields.

• Click Continue to move to the next step > Custom Columns

4. Define Output Element Visibility:

Based on the selected Price Setting Type, determine which output elements will be visible.

• Select Output Columns:

Choose the columns you want to include in the output.

• Click Continue to proceed to the next step.

5. System Columns

• Click Save to save your settings.

Types of Pre-Selection Field Options

Depending on the setup of the Price Setting Type, fields can be:

• Empty and Open for Editing: Fields are left blank and open for modifications.

• Pre-Selected from the Price Setting Type Template: Fields are pre-filled but open for modifications.

• Pre-Selected with an Option to Edit the Field: Fields are pre-filled and can be edited.

• Pre-Selected and Locked: Fields are pre-filled and cannot be changed.

Examples

• Empty and Open for Editing: In Live Price Grid Type 3, fields like Dynamic item mode, Dynamic UOM, and Dynamic currency are not pre-filled and can be modified.

• Pre-Selected with an Option to Edit: In Live Price Grid Type 2, fields like Allow distributed calculation and Result Price are pre-filled but can be modified.

• Pre-Selected and Locked: In Live Price Grid Type 1, fields like Header Logic, Type, and Target Date are pre-filled and locked from modifications.

Output and System Columns

• Output Columns: To hide the Output Columns step, ensure the User Toggle Visibility option is unchecked for all columns.

• System Columns: Similarly, to hide the System Columns step, uncheck the User Toggle Visibility option for all columns.

How to Edit a Live Price Grid (LPG) from the Price Setting Type

Editing an LPG allows you to update and manage your pricing strategies in real-time.

Steps:

1. Access the LPG:

   • Navigate to the Price Setting Type section.

   • Locate the LPG you want to edit.

2. Open the LPG for Editing:

   • Click on the LPG to open it.

3. Modify the Header Information:

   • Update the name, description, and validity period.

4. Adjust Pricing Logic:

   • Review and modify the pricing logic.

5. Update Matrix Logic:

   • Adjust the matrix for any changes in your pricing strategy.

6. Save Your Changes:

   • Save the changes to the LPG.

   Example: Click the "Save" button at the bottom of the page to apply your changes.

7. Review and Test:

   • Ensure all changes are applied correctly and test the grid.

Impact on Pricing Strategies

1. Shift Towards Price Lists:

   • The initiative is expected to increase the usage of Price Lists (PLs) over Live Price Grids (LPGs), as the new system streamlines the creation process.

2. Empowerment of Business Users:

   • Business users can create the pricing objects they need without technical knowledge, leading to more efficient and effective pricing strategies.