Redwood: Apply Pricing Formulas with Mass Actions on Price Lists

Use the new Pricing Formula dialog to create a mathematical expression that meets your specific, custom pricing requirements. You can use the formula to drive your mass actions using costs in a cost list and prices in another price list.

Realize these benefits:

  • Maintain price more efficiently. Use a mass action to apply one formula to more than one line so you can update all of your price lists in minutes, not days.
  • Improve margin control. Calculate price according to cost, regional factors, tariffs, so you protect targets across markets.
  • Keep pricing consistent. Reuse the same formula across price lists so you reduce drift and keep rules consistent.
  • Cut errors. Use stored variables, such as cost, list price, or charge, so pricing pulls the correct, current values and applies the formula accurately.
  • Reduce maintenance overhead. Set up one formula that calculates one variable and reuses that variable so you avoid copying it in more than one equation.

Assume you need to add a custom formula for a recycling fee on the AS54888 item:

  1. Go to Home > Order Management > Pricing Administration > Show More > Manage Price Lists – New > Corporate Segment Price List.
  2. Search for the AS54888 item, then click Calculate Prices:
    Details about the product
  3. Click Add, set these values, then click Manage Formula:

    Attribute

    Value

    Charge

    Recycling Fee

    Based On

    Formula
    For example: Calculate the Recycle Fee as a 10% markup over the item cost from the QP Cost List:
    Details about the product
  4. Enter your expression, then click Save:
    Details about the product

General Operations

Use standard mathematical operators in your formula so you can calculate price directly. For example:

  • Sale Price = Cost + 25
  • Sale Price = Cost + (Cost * 10%)

Set up a formula to calculate one variable on your price list. For example:

  • Sale Price = Cost + (Cost *10%)

Refer to one or more stored variables when you create the formula, such as cost, a list price, or charge. Pricing will get each stored value and apply the formula. For example:

  • Sale Price = (Cost * 20%) + (Master Price * 80%)
  • Sale Price = (Labor Cost) + (Handling Cost) + (Service Fee)

Set up one formula and reuse it for any line on a price list so you can maintain consistent pricing without creating more than one equation. For example:

  • List Price = Cost + 10%

markup applies to each selected line.

Cost Plus Pricing Use Case

Use this formula to add a profit margin to the item’s cost and overhead to calculate the selling price:

  • (Item Cost + Overhead) / (1 - Profit%)

For example:

  • (Item Cost + Overhead) / (1 - 0.3)

Assume you have:

  • The Standard Laptop item.
  • The item's cost is 100 USD, from the master cost list.
  • The overhead is50 USD, from the overhead cost list.

Try it:

  1. Set up cost in the master cost list and overhead in the overhead cost list.
  2.  Add the formula to the corporate price list.
  3. Run a mass update.
  4. Price the item in a sales order.

And the result is list price = 214.30 USD.

Regional Pricing Use Case

Use this formula to apply a regional factor to the item’s price to calculate a regional selling price:

  • (Item Price + Item Price * Regional Factor)

For Example:

  • (Item Price + Item Price * 0.8)

Assume you have:

  • The Standard Laptop item.
  • The item's price is 100 USD from the master price list.

Try it:

  1. Set up item prices in the master price list.
  2. Add the formula to the regional price list.
  3. Run a mass update.
  4. Price the item in a sales order.

And the result is list price = 80 USD.

Steps to Enable and Configure

You don't need to do anything to enable this feature.

Tips And Considerations

  • You can create a pricing formula one time, and then use Calculate Prices to apply that formula in subsequent mass actions.
  • Apply the formula on one item to verify the calculation, and then apply it on multiple items.
  • Use the Validate action to make sure your pricing formula is valid.

Key Resources

Access Requirements

Users who are assigned a configured job role that contains these privileges can access this feature:

  • Manage Price Lists (QP_MANAGE_PRICE_LISTS_PRIV)

These privileges were available before this update.