Many companies still rely on outdated technology or analog solutions when it comes to managing multiple pricing records at one time, in one place. Not only can rogue sales reps quote clients from spreadsheets that have no connection to underlying price drivers, but those spreadsheets are also incredibly susceptible to manual errors.
Luckily, there’s a solution for bringing your sales organization (and profits) into the modern world: Oracle’s JD Edwards Advanced Pricing.
The JD Edwards Advanced Pricing module can help you manage complex and volatile sales environments by allowing you to set any number of prices and special offers based on combinations of products, product groups, customers, or customer groups.
This article will discuss the key capabilities and components of JDE Advanced pricing and offer extensive knowledge to help you work with order repricing, free goods, and rebates, as well as where our team of JDE consultants can come in to help.
Let’s dive in!
What is JDE EnterpriseOne Advanced Pricing?
JD Edwards offers a variety of features and tools for its ERP users, and one of the most sophisticated and powerful is EnterpriseOne Advanced Pricing. Why? Because pricing is probably the most complicated aspect of any business. With a standard price adjustment module like JDE Advanced Pricing, you’re saving time and energy—all while increasing profit.
With Advanced Pricing in JD Edwards, you can:
- Implement pricing strategies that advance your product and market strategies.
- Maintain centralized control over pricing for better consistency and profitability.
- Be sure that pricing configurations meet your organization’s strategy with increased visibility and mass maintenance tools.
Key Benefits of JDE Advanced Pricing
Now that you have a better idea about JD Edwards EnterpriseOne Advancing Pricing, let’s dive into some of the main ways the solution can help control pricing and optimize business processes.
1) Maintain Consistency and Profitability
Advanced Pricing allows your organization to maintain prices and discounts in a centralized location. Automated workflows send price changes to a manager before they become active in the system, helping you monitor pricing changes.
The solution also allows you to define preset margin boundaries and minimum/maximum price ranges, ensuring your sales reps have clear boundaries to negotiate. But, these boundaries are also flexible and can be set based on the customer and item combinations.
2) Increase Sales
Special pricing can encourage your customers to purchase in bulk (and more products sold means more money). Advanced Pricing makes it easy to set quantity breaks for prices or discounts based on the amount, quantity, or weight.
You can calculate and discount sales volume using order line level pricing, basket pricing (which looks at volume across a group of items in an order), or a collection of orders during a specified period.
3) Set Pricing Based on Real-Time Market Information
Advanced Pricing allows you to set pricing rules based on response to competition and keep prices in line with costs. Even better, these rules can be managed automatically so your sales and marketing teams can spend time on strategic work.
4) Gain Visibility of Sales History
A spreadsheet is usually just a snapshot of what’s happening right now. The JDE pricing solution keeps track of all the changes behind the scenes, ensuring you and your team have the information and data you need to make informed decisions on individual pricing rules and changes.
5) Enhance Your Solution with Integration
Bringing even more value to your organization, Advanced Pricing can be integrated with a wide variety of other JD Edwards EnterpriseOne products, including Sales, Sales Order Management, Product Variants, Customer Self-Service, and Configurator modules.
Integrating your JD Edwards EnterpriseOne products enhances your ability to do business, giving you more capabilities when configuring products, entering category codes for specific item groups, creating quotes for customers, and processing purchase orders.
Implementing Pricing Strategies
To succeed with Advanced Pricing, you’ll need to ensure you have well-defined pricing scenarios and strategies that can be tested and implemented through the application rules.
One benefit of a disciplined pricing structure is that it encourages your customers to purchase in higher volumes. Advanced Pricing makes things even easier for you (and your customers) by allowing you to set quantity breaks for prices or discounts based on transaction quantity, weight, or amount. You can also calculate and discount sales volume using order line level pricing, basket pricing, or rebates and volume incentive discounting.
Advanced Pricing also makes it much easier to manage multilayer organizational hierarchies, pricing, discounts, and deals through functionality called a”buying structure.” These buying structures ensure accurate pricing and efficient price setup and maintenance throughout your customers’ organizations. Even better, after determining a transaction’s eligibility for a discount, the system calculates the discount itself.
Because it offers various methods for calculating price adjustments, Advanced Pricing can be used in almost any type of business or customer group.
Here’s a snapshot of some of the features you can set up in the system:
- Set a specific markdown or markup amount.
- Establish a cost-plus amount.
- Define a percentage of the list or net price.
- Set a price based on achieving a target profit margin.
- Develop a discount formula that pulls from variable data, such as selected purchase order line details or a commodity price table.
- Call custom-built pricing logic without modifying a line of base code.
Integrating Advanced Pricing with Your JD Edwards System
Advanced Pricing is also designed to integrate easily with many other JD Edwards EnterpriseOne products across your operations.
Here are a few of the available Advanced Pricing integrations for business users:
- JD Edwards EnterpriseOne Financial Management
- JD Edwards EnterpriseOne Order Management
- Sales Order Management
- Inventory Management
- JD Edwards Warehouse Management
- Procurement and Subcontract Management
- Bulk Stock Inventory
- JD Edwards EnterpriseOne Customer Relationship Management
- JD Edwards EnterpriseOne Supply Management
- JD Edwards EnterpriseOne Supply Chain Execution
Getting Started with Advanced Pricing
Advanced Pricing is provided with JD Edwards, but it can be extremely complicated to set up correctly—even if you know what you’re doing or have experience navigating complicated customer billing instructions and price adjustment strategies.
Our team of senior-level JD Edwards consultants can help you set up and execute your pricing strategy so it’s headache-free and effective for your organization. And, even better, we offer consulting support at the right price to ensure your budget and project needs are met and manage pricing objectives more effectively across the board.
We’ve included a sample profile of one of our JDE EnterpriseOne Advanced Pricing consultants to help you know what to expect when partnering with us.
Surety Senior JD Edwards Advanced Pricing Consultant
- 20+ years of JD Edwards Distribution experience
- Expert with Advanced Pricing; Completed 15+ Advanced Pricing projects
- Led 8+ Full Implementations of Advanced Pricing in EnterpriseOne
- Exceptionally strong in Order-to-Cash and Sales Order Management processes
- Well-versed in Procure-to-Pay and Inventory areas
- Served as Distribution Lead 10+ times; Comfortable with Training and Documentation
Contact us today to learn more!