Method and means for ranking and pricing items
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United States of America Patent
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Aug 11, 1998
Issued Date -
N/A
app pub date -
Aug 22, 1994
filing date -
Nov 13, 1990
priority date (Note) -
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Abstract
The present invention provides a computerized method for ranking items based upon the interrelationship of the volumes and revenues and payment methodologies of items sold. First a base rank value is determined based upon the measured distribution of item volume, item revenue and the payor methodology mix. A weighted value is then determined by the computer system for each item by high and low assigned values which are then normalized and sorted to provide a normalized ranking. The pricing of each item is based upon the normalized ranking. The method of the present invention is used to determine what items should increase in price, what items should decrease in price, and what items should remain constant according to each item's relative value to net income.
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