Create a price element

Price elements are non-calculated elements of the pricing waterfall and a crucial component in Pricing Engine. Examples of price elements include cost, markup, and discount. You can use one price element across multiple price builds.

Follow the steps in the following sections to configure a price element:

• Create a price element
• Add element lookups
• Add lookup keys
• Add element values
• Generate a price element

Create a price element

1. From the Manager Dashboard, select Price Builds and Engine > Configuration, then select Elements.
2. On the Elements worksheet, select Insert Row.
3. On the Insert row dialog, enter the following information:
   • Element name—Enter a unique name for the element. Element names are limited to 100 characters. Special characters and spaces are allowed.
   • Do not select Process and Delete checkboxes for now.
4. Select Save.

Add element lookups

An element lookup shows the depth of a price element on the price waterfall.

You must create at least one element lookup for each price element, but you can also add multiple lookups for the same price element if necessary.

To create an element lookup:

1. From the Manager Dashboard, select Price Builds and Engine > Configuration, then select Elements.

2. On the Element Lookup worksheet, select Insert Row.

3. On the Insert row dialog, enter the desired information or make selections:

   • Element Name—Select a price element to associate with this element lookup.
   • Lookup Code—Enter the type of lookup to configure. Examples include: Product, Region, Country, Customer, Customer Tier.
   • Lookup Order—Select the order of the lookup related to the waterfall depth.
   Example

   A national markup might be organized by product and product group. If you select 1, then the price builder first searches for markups by product. If you select 2 (or if you select 1 and no markups exist for the product), then Pricing Engine first searches for markups by product group.

4. Select Save.

Add lookup keys

Lookup keys are individual values that you configure for each element lookup. These unique fields break each element lookup into a set of fields.

You can create multiple lookup keys for each element lookup.

To create a lookup key:

1. From the Manager Dashboard, select Price Builds and Engine > Configuration, then select Elements.
2. On the Lookup Keys worksheet, select Insert Row.
3. On the Insert row dialog, enter the desired information or make selections:
   • Element Name—Select a price element to associate with this lookup key.
   • Lookup Code—Select a lookup code to associate with this lookup key.
   • Key Field—Enter the lookup key to configure. Examples include: Product ID, Effective (Date), and CustomerTier.
   • Data Type—(Optional.) Select a data type.
   • Map Field—Leave this field blank. You will use it later when setting up a simulation.
   • Is Range—Select the checkbox if the lookup key has an associated start and end date.
   Tip

   Set an effective date range for most element lookups. This serves to track historical changes in pricing throughout the waterfall, and reduces duplication and errors in data as prices are updated.

4. Select Save.

Add element values

Each price build can have multiple element values, which represent the individual price waterfall variables with their corresponding type.

1. From the Manager Dashboard, select Price Builds and Engine > Configuration, then select Elements.
2. On the Element Values worksheet, select Insert Row.
3. On the Insert row dialog, enter the desired information or make selections:
   • Element Name—Select a price element to associate with this value.
   • Lookup Value—Enter the value type the element is based on. For example, the value type of the Gross Price element is Price, and the value type of the Currency Exchange element is Rate.
   • Data Type—(Optional.) Select a data type.
   • Aggregate—Select the checkbox.
   • Summary Group—Leave it blank or enter the price element name.
4. Select Save.

Generate a price element

After you create a price element and define lookups, lookup keys, and values for it, you must generate the element.

1. From the Manager Dashboard, select Price Builds and Engine > Configuration, then select Elements.
2. On the Elements worksheet, find a row with the name of the price element.
3. In that row, select the Process checkbox.
4. Select the Process Element worksheet action.

When Pricing Engine processes the element, you'll see a status message in the Status column.

Upon successful processing, Pricing Engine automatically creates a new workbook bearing the name and details of your price element. To locate the workbook, go to the Manager Dashboard, select Price Builds and Engine > Elements, then select the workbook with the name of your price element.