Selective merchandise price optimization mechanism
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United States of America Patent
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Jul 24, 2007
Grant Date -
N/A
app pub date -
Nov 30, 2001
filing date -
Nov 30, 2001
priority date (Note) -
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Abstract
A method for optimizing the prices of products for sale. The method includes utilizing a computer-based scenario/results processor within an optimization server to present a sequence of data entry templates to a user, whereby the user specifies an optimization scenario, and whereby the user is enabled to prescribed and prioritize rules for the optimization scenario; within the optimization server, optimizing the prices according to market demand for the products and demand chain costs for the products; and generating a plurality of optimization results templates and providing these templates to the user, wherein the optimum prices are presented. The optimizing includes estimating the market demand and calculating the demand chain costs for the products; selectively limiting the number of prices that are optimized by said optimizing; and, up to a limit, progressively relaxing lower priority rules that contribute to a conflict in order to render the optimizing feasible.
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