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Method and system for inventory management

DC
  • US 6,061,691 A
  • Filed: 12/18/1998
  • Issued: 05/09/2000
  • Est. Priority Date: 08/31/1998
  • Status: Expired due to Term
First Claim
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1. A method for inventory management, comprising the steps of:

  • (a) receiving a customer request for an inventory item;

    (b) generating a table of one or more inventory items that most closely correspond to the customer request using a price forecasting system;

    (c) selecting an item from the table;

    (d) generating a price quotation associated with the selected inventory item using the price forecasting system, which price quotation has been predetermined by a yield management system using a pricing strategy;

    (e) inputting customer request information associated with the customer request into a traffic billing system;

    (f) inputting information needed for price recalculation associated with the customer request into the yield management system;

    (g) recalculating pricing data with the yield management system in a manner consistent with a pricing strategy implemented by the yield management system, so that price changes caused by a reduction in available inventory due to the customer request are taken into account; and

    (h) updating the pricing data accessed by the price forecasting system in step (d) prior to repeating steps (a) to (g) for a subsequent customer request.

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