Steps to Launch Products

After you set up the framework for your products and product bundles, you launch the products using the Product Workbench.

Here are the high-level steps:

1. Create a Product
2. Specify Additional Product Details
3. Add the Product to the Sales Catalog
4. Define the Product Structure
5. Specify the Product Price

Step 1: Create a Product

1. Navigate to the Products list page.
2. Create a product.
3. Select the product template and sales product type, according to your business requirements.

Note these important product attributes:

• Product Template: Indicates the configured item templates in Product Hub/PIM (Product Information Management) that can be selected to define various Sales product structures with defaulted attributes.
• Sales Product Type: Indicates whether this product can participate in specific Sales management processes by default, without additional configurations. For example, if the value is Subscription, the products will follow Subscription Management (that is, the Subscription Sales Management process).
• Product Number: Refers to alphanumeric Public Unique Identifier (PUID) of the product. If you leave this field blank, the application autogenerates the product number as configured in Public Unique Identifier Sequence Generation setup.
• Eligible to Sell: Indicate whether to allow a product to be sold to external customers.

Step 2: Specify Additional Product Details

Specify additional product details. You can add product images and you can customize this step to include additional product attributes, according to your business requirements, using Oracle Visual Builder Studio.

Step 3: Add the Product to the Sales Catalog

Add the product to the Sales Catalog. In this step, you associate the product under a specific product group in the Sales Catalog. After you add the product to the catalog, you make the product discoverable in the Sales Catalog, but only after it's launched.

Step 4: Define the Product Structure

Define the product structure. You can define a multilevel hierarchical product structure according to your business requirements.

Make sure you have the individual product components (of structure item type Standard/Option Class/Model) available to "Add" to the product structure. This step enables you to package hybrid products into a bundle and lets you price and sell competitively.

Saving at any step saves your product definition in Draft status and lets you continue editing the product definition from the list page. Submit finalizes your product design, updates the product definition to Created status, syncs the product data to the Oracle CPQ product definition (using scheduled batch or near real time sync), and makes the product available for you to continue with pricing.

Important: Skip this step if you're defining a standard product.

Step 5: Specify the Product Price

Specify the product price. Once the product is created, the Price action is enabled, allowing you to define the product price.

Make sure you set up your price definition and business functions in the Oracle CPQ Pricing Portal to enable competitive product pricing in the Product Workbench.

Specify the pricing set, condition, and charge details, and submit to save the product pricing.

Step 6: Launch the Product

Launch the product. Once you price the product, the product status becomes Priced and the Launch action is enabled in the product list page so you can launch to product.

Upon launch, the Eligible to Sell attribute for the product is set to Yes, the product status becomes Launched, and the product is available for salespeople to sell.

Note: The Retire action in the product list page is enabled any time after the product is created. Upon retire, the product status is updated to Retired, the Eligible to Sell attribute for the product is set to No, and therefore the product is no longer available for salespeople to sell.

Quote-to-Cash Model in Sales and Subscriptions Economy

Once the product is launched, it's available for Sales people to initiate the sales process. As a part of sales execution, the launched product can participate in Oracle Opportunity Management, Oracle Quoting, Oracle Order Management, Oracle Subscription Management, Oracle Billing and Revenue Management.

All these integrations let you present a modern quote-to-cash model using the Oracle Revenue Transformation Solution.