Inventory and revenue maximization method and system
First Claim
1. An inventory management system, comprising:
- a performance measurement system for measuring performance of a medium in which units of inventory are used;
a revenue maximization system which determines a price for said units based on predetermined pricing considerations;
a central information storage system for receiving information from said performance measurement system and revenue maximization system to generate scenarios wherein various combinations of units are grouped together to meet a buyer'"'"'s criteria; and
a scenario planner to display the various scenarios generated by the central information storage system.
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Accused Products
Abstract
A method is provided for enterprise management and bundling of radio, outdoor and entertainment inventory to achieve maximum revenue on perishable products. An electronic data-mart 110 or central information storage and data processing system is established to collect influencing factors for the probability and price sensitivity of a particular advertising buyer 120. The data-mart 110 also collects business rules for inventory scaling, available inventory to sell, budget (goal) information, advertiser payment history, and station performance data to feed to a scenario planner 130. Once three or more variables exist, inventory and pricing fuzzy logic algorithms create scenario plans to present the most profitable bundle of offerings. The scenarios are typically pre-approved although presented to the local business units 150 for an abnormality failsafe. Once processed by the local business units 150, the scenarios are presented to the advertising buyer 120. Negotiations typically take place which cause for the process to restart. The main systems that interact to build these scenarios are: an enterprise data-mart 110, a scenario planner 130, a performance measure system 170, a rate or yield management subsystem 160, a traffic and accounts receivable system 180 and a similarly configured local inventory booking system 190. A business rules engine provides the local rule definitions for scaling inventory and price to provide for the most profitable combination.
175 Citations
11 Claims
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1. An inventory management system, comprising:
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a performance measurement system for measuring performance of a medium in which units of inventory are used;
a revenue maximization system which determines a price for said units based on predetermined pricing considerations;
a central information storage system for receiving information from said performance measurement system and revenue maximization system to generate scenarios wherein various combinations of units are grouped together to meet a buyer'"'"'s criteria; and
a scenario planner to display the various scenarios generated by the central information storage system. - View Dependent Claims (2, 3, 4, 5, 6, 7)
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8. A process for inventory management comprising the steps of:
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a seller and a buyer identify an opportunity for purchasing units;
obtaining the history of the buyer with respect to purchases of like units, if any;
receiving from the buyer information about the buyer'"'"'s purchase requirements obtaining available inventory information;
obtaining prices for said units from a revenue maximization system; and
generating at least one scenario comprising a plurality of units based on said information obtained from said buyer, wherein said at least one scenario meets the buyers demands and reflects said available inventory and said prices. - View Dependent Claims (9, 10)
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11. A method of providing various scenarios to a purchaser of units of opportunities to advertise, comprising:
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permitting a buyer to select various markets by geographic demarcation;
selecting various markets within said geographic demarcation;
set appropriate filters to filter out media within the selected markets using criteria selected from a group consisting of demographics, psycho graphics or media type;
inputting buyer criteria according to at least two of following criteria;
the number of persons expected to be exposed to said units, the frequency of those persons seeing said units, budget for purchase of the units, demographics, psycho graphics, gross number of times people will be exposed to said units; and
compiling a scenario composed of a variety of said units based on buyer criteria.
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Specification