Pricing Administration Guide > Creating Pricing Models and Pricing Factors > The Process of Creating and Applying a Pricing Model >

Creating a Pricing Model

Use the Pricing Model Manager list to create a new pricing model and enter general information about it. The pricing model record includes the following information:

• Locked. Pricing models include a locking mechanism so that only one pricing administrator can edit a pricing model and its factors at a time. The model is automatically locked when you create it. If you unlock it, it becomes available to customer.
• Currency. The base currency you assign to a pricing model must always be the same as the base currency of the price list with which the model is associated. If you recreate a price list in a foreign currency, you must also recreate the pricing model for that price list with the same base currency.
• Start and End. The pricing model has a Start Date and End Date field, which controls when it can execute. Each pricing factor also has a Start Date and End Date, which controls when it can execute.

NOTE:  You can use the same pricing model for several price lists, but each price list can have only one pricing model associated at the topmost header level.

To create a new pricing model

1. From the application-level menu, choose View > Site Map > Pricing Administration >Pricing Model Manager.
2. In the Pricing Model Manager list, click New.
3. Enter information in the new record and in More Info form, as described in Table 27.

   Table 27.  Pricing Model Manager List Fields

   Field	Entry
   Name	Required. Enter a unique, meaningful name for the pricing model; 30 characters maximum. Blanks and hyphens may be used, but other special characters may not be used.
   Customizable Product	If a component-based product is associated with this model, select it here. There are special constraints for pricing models for component-based products. For more information see About Pricing Models for Component-Based Products.
   Description	Optional. Enter a description of the pricing model.
   Locked	By default, a pricing model is locked when it is created. A pricing model must be locked whenever it is being modified. Unlocking a pricing model makes it available for use by the runtime users.
   Locked By	The system updates this field when the pricing model is locked. Only the person who locked the model or a system administrator can modify the pricing factors within the pricing model.
   Locked Date	The system updates this field when the pricing model is locked. When the pricing model is unlocked, it is blank.
   Currency	Required. Select the currency used by the model. The pricing model can only be associated with price lists that use the same currency. The default is USD (U.S. Dollars).
   Start	Required. Enter the date when the pricing model becomes activate. The default is the date created. The Start Date must be later than or equal to Date Created.
   End	Optional. Enter the date when the pricing model becomes inactive. If it is not specified, the pricing model remains active indefinitely. The End Date must be later than or equal to the Start Date.