Apparatus for merchandise price optimization
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United States of America Patent
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Aug 15, 2006
Issued Date -
N/A
app pub date -
May 4, 2001
filing date -
Dec 20, 2000
priority date (Note) -
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Abstract
A technique for determining optimum prices of products. The apparatus includes a scenario/results processor, a demand engine, an activity based cost engine, and a price optimization engine. The scenario/results processor enables a user to prescribe an optimization scenario, and presents the optimum prices to the user, where the optimum prices are determined by execution of the optimization scenario. The demand engine models relationships between potential prices of the products and market demand for the products. The activity based cost engine estimates costs for the products based upon market demand. The price optimization engine employs the market demand and the demand chain costs to determine the optimum prices, where the optimum prices are a subset of the potential prices, and where the optimum prices maximize a merchandising performance figure of merit according to the optimization scenario.
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