Oracle Pricing Setup : Understanding Price Lists

Price List can be imagined as a table of Item vs Item Price. Every Item must have a price. Items are integral part of Inventory and Order Management.

Price lists consist of a header region that defines general information such as effective dates and currency, and price list lines that define item and/or item category prices.

Below are the attributes of Price List :

Effective Dates:
This enables you  to prepare price lists with starting and ending dates withing which the item price is valid

Inactive Price Lists:
You can temporarily or permanently inactivate a price list by clearing the Active check box.

Currency:
The Multi-Currency feature enables you to maintain a single price list for multiple currencies.

Round To:
The Round To value defines the number of places to the right or left to the decimal point to which the pricing engine rounds prices from price lists and modifiers from modifier lists:
A positive number such as 2 indicates the number of places to the left of the decimal point.
For example, a round to factor of 2 indicates rounding to the nearest hundreds so 209 rounds to 200.

A negative number such as -3 indicates number of places to the right of the decimal point.
For example, a round to factor of -3 indicates rounding to the nearest thousands so 2.2337 rounds to 2.234.

Secondary Price List:
The pricing engine uses secondary price lists when it cannot determine the price for an item using the price list assigned to an order.

Primary and secondary price lists have the same currency.
If the item you are ordering is not in the primary price list, the pricing engine looks for the price on any attached secondary price list. If the item is found, the pricing engine uses the highest precedence secondary price list (the secondary price list with the lowest value in the precedence field).

• If an item appears in both the primary and a secondary price list with the same effective dates, the pricing engine uses the primary price list to price the item. If an item appears on the primary price list but is not active (the effective end date has passed), the pricing engine uses the price on the secondary price list.
• You can assign the same secondary price list to multiple price lists but you can not assign a secondary price list to a secondary price list.
• If the item that you are ordering is not in the primary price list, the pricing engine uses the highest-precedence secondary price list (the secondary price list with the lowest value for the precedence field).
• Line-level discounts and modifiers that apply to the primary price list do not apply to the secondary price list.
• If an item appears on both the primary and a secondary price list with the same effective dates, the pricing engine uses the primary price list to price the item.
• If an item appears on the primary price list but is not active (the effective end date has passed), the pricing engine uses the price on the secondary price list.