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IMPROVED METHODS AND SYSTEMS FOR FORECASTING PRODUCT DEMAND USING PRICE ELASTICITY

  • US 20080133313A1
  • Filed: 12/04/2006
  • Published: 06/05/2008
  • Est. Priority Date: 12/04/2006
  • Status: Abandoned Application
First Claim
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1. A method for forecasting product demand for a product, the method comprising the steps of:

  • maintaining a database of historical product demand information;

    analyzing said historical product demand information for said product to determine a price driven demand for said product;

    analyzing said historical product demand information for said product to determine an average rate of sale for said product; and

    blending said price driven demand for said product with said average rate of sale for said product to determine a product demand forecast for said product.

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