Product Lifecycle Management

Oracle Revenue Management and Billing facilitates a process of managing the entire lifecycle of a product from inception to service and then to retirement. The system allows you to create the following types of products:

  • Standard - This type of product is a standalone product.

  • Packaged - This type of a product is a bundle or group of products.

  • Informational - This type of a product is used in the product hierarchy, but does not have its own pricing.

On creating a product, the status of the product is set to Draft. You can associate a product to one or more divisions. You can create a product to product relationship in the system. You can add product versions in the product. A product version is the entity which holds the following information:

  • Product services which are offered with the product

  • Price list from where the pricing for offered product services should be obtained.

  • Eligibility criteria which must be satisfied when the account enrolls for the product.

    The above information is captured when you create a product version for a standard product. However, when you create a product version for a packaged product, it holds the following information:

  • Standard products which are offered in the packaged product.

    Note: Some of these products might be compulsorily offered with the packaged product while some of the products might be optional.

  • Standard products’ services which are offered in the packaged product.

    Note: Some of these product services might be compulsorily offered with the standard product while some of the product services might be optional.

  • Add-on product services which are offered in the packaged product.

  • Price list from where the pricing for offered product services and add-on product services should be obtained.

  • Eligibility criteria which must be satisfied when the account enrolls for the packaged product.

A product version is effective from a particular date and its effective date must fall within the product date range. On creating a product version, the status of the product version is set to In Progress. You can activate a product when at least one of its product versions is in the Finalized status.

A product service can be associated to one or more price items. A product service can be offered with a product when it is associated with at least one price item in the system.

Once the product is activated, you can enroll the account for the product. On enrolling for a product, the system retrieves the product details from the product version which is effective on the system date. While enrolling for a standard product, you cannot remove mandatory product services from the product. However, you can enroll for optional product services which are offered with the product.

Similarly, while enrolling for a packaged product, you cannot remove mandatory products and product services from the packaged product. However, you can enroll for optional products and product services which are offered with the packaged product. While enrolling an account for a product, you can set the product enrollment priority for the account.

Once you create the product enrollment, the status of the enrollment is set to Pending. On submitting the product enrollment, the validation process is initiated. If all conditions are met, the status of the product enrollment is changed to Enrolled. You can unenroll for the product, whenever required.

You can retire a product, whenever required. The product, product version, and product enrollment goes through various statuses in their lifecycle.

The following batches are newly introduced for the Product Lifecycle Management feature:

  • Product BO Monitor (C1-PRTRN)

  • Product Enrollment Monitor (C1-ENTRN)

Related Topics

For more information on... See...
Product Service screen Product Service (Used for Searching)
Product Service screen Product Service (Used for Viewing)
Product Version screen Product Version (Used for Viewing)
Product screen Product (Used for Searching)
Product screen Product (Used for Viewing)
Product Enrollment screen Product Enrollment (Used for Searching)
Product Enrollment screen Product Enrollment (Used for Viewing)

For more information on how to setup the product lifecycle management feature, see Prerequisites.

Parent Topic: Oracle Revenue Management and Billing Financial Services Business Processes