With reference to my previous post (named as Start Self Study – SSS) I have just given the over of this module in following paragraphs:
Oracle Advanced Pricing is a rules-based application with an engine component to service the pricing requirements of Oracle applications to price customer transactions. It enables you to set up pricing actions such as price lists, agreements, formulas and modifiers that the pricing engine applies to transactions and it also enables to define a set of pricing rules (and pricing controls that can be used in conjunction with the rules) to precisely govern how and when pricing actions are applied to transactions.
The pricing engine is a software component of Oracle Advanced Pricing that is called by an application such as Oracle Order Management or iStore to apply pricing actions to transactions. Applications make calls to the pricing engine when transactions need pricing services or need to be priced.
A calling application must provide the pricing engine with information about the product to be priced and the customer. This information is contained in an internal format called a pricing request structure. The pricing engine extracts from its tables the applicable pricing rules, pricing actions and control information that have been set up. The engine then selects the proper actions and computes their effect. This information is returned by the engine to the calling application.
Source: Oracle User and Implementation Guide
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