Pricing is the manual or automatic process of applying prices to purchase and sales orders, based on factors such as a fixed amount, quantity break, promotion or sales campaign, specific vendor quote, price prevailing on entry, shipment or invoice date, combination of multiple orders or lines, and many others.

Automated systems require more setup and maintenance but may prevent pricing errors. (Pricing , Process of determining the sales price of a product line or a special.)

Get more definitions about pricing and other ERP related terms here.

Sharing is caring!