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COMMUNICATING PRICE DISCOUNTS

  • US 20110054992A1
  • Filed: 07/29/2010
  • Published: 03/03/2011
  • Est. Priority Date: 07/31/2009
  • Status: Abandoned Application
First Claim
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1. At a computer system, the computer system including a processor and system memory, the computer system communicatively coupled to a product life cycle database, a discount database, and a contact database, the product life cycle database containing inventory level data and life cycle data for one or more items, the inventory level data indicating how many of each of the one or more items are for sale and the life cycle data indicating when the life cycle of each of the one or more items is to expire, the discount database containing discount data indicating the amount and timing of price discounts for the one or more items, and the contact database containing contact data indicating how to notify entities of price discounts for the one or more items, the computer system including a life cycle monitoring module that monitors the life cycle data for expiring items and inducing a discount record generation module for generating discount records for expiring items, a method communicating a price reduction for an item, the method comprising:

  • an act of determining that generation of a price discount for an item is appropriate to mitigate revenue loss related to the item, the determination based on the inventory level data indicating that the amount of the item in inventory exceeds a predefined number and based on the life cycle data indicating that the item is within a predefined time period of expiring;

    an act of the processor generating a discount record for the item in response to the determination, the discount record constructed from data contained in the product life cycle database, the discount database, and the contact database, the discount record containing;

    a price discount for the item, the price discount indicating how much the price of the item is discounted from a list price, the price discount formulated from the discount data;

    a notification time, the notification time indicating when relevant entities are to be notified of the price discount, the notification time formulated from the discount data;

    a number of units of the item being offered in accordance with the price discount, the number of units formulated from the inventory level data for the item; and

    communication information indicating how relevant entities interested in price discounts for the item are to be made aware of the price discount and the number of items being offered, the communication information formulated from the contact data; and

    an act of, at the notification time, using electronic network based communication to send notification information contained in the discount record to the relevant entities in accordance with the communication information, the notification information notifying the relevant entities of the number of units of the item being offered in accordance with the price discount.

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