Interface for merchandise price optimization
First Claim
1. An interface enabling a user to determine optimum prices of products for sale, comprising:
- a scenario/results processor, configured to enable the user to prescribe an optimization scenario, and configured to present the optimum prices to said user, wherein the optimum prices are determined by execution of said optimization scenario, wherein said optimum prices are determined based upon estimated product demand and calculated activity based costs, said scenario/results processor comprising;
an input/output processor, configured to acquire data corresponding to said optimization scenario from the user, and configured to distribute optimization results to the user, wherein said data comprises activity based cost data corresponding to the products for sale, and wherein said input/output processor comprises;
a template controller, configured to provide first price optimization templates and second price optimization templates, wherein said price optimization templates are presented to said user to allow for prescription of said optimization scenario, and for distribution of said optimization results, and wherein said first price optimization templates comprise;
a plurality of new scenario templates, configured to enable said user to prescribe scenario parameters corresponding to said optimization scenario, wherein said plurality of new scenario templates comprise;
an at-large rules template, from specifying rules to govern determination of the optimum prices, said rules comprising;
maximum allowable price swing for each of the products for sale; and
maximum allowable for average price of each demand group within a plurality of demand groups; and
a command interpreter;
configured to extract commands from said first price optimization templates executed by said user, and configured to populate said second price optimization templates according to result data provided for presentation to said user; and
a scenario controller, coupled to said input/output processor, configured to control acquisition of said data and the distribution of said optimization results in accordance with a price optimization procedure.
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Abstract
An apparatus is provided for an interface enabling a user to determine optimum prices of products for sale. The interface includes a scenario/results processor that enables the user to prescribe an optimization scenario, and that presents the optimum prices to the user. The optimum prices are determined by execution of the optimization scenario, where the optimum prices are determined based upon estimated product demand and calculated activity based costs. The scenario/results processor has an input/output processor and a scenario controller. The input/output processor acquires data corresponding to the optimization scenario from the user, and distributes optimization results to the user, where the data includes activity based cost data. The scenario controller is coupled to the input/output processor. The scenario controller controls acquisition of the data and the distribution of the optimization results in accordance with a price optimization procedure.
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Citations
26 Claims
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1. An interface enabling a user to determine optimum prices of products for sale, comprising:
a scenario/results processor, configured to enable the user to prescribe an optimization scenario, and configured to present the optimum prices to said user, wherein the optimum prices are determined by execution of said optimization scenario, wherein said optimum prices are determined based upon estimated product demand and calculated activity based costs, said scenario/results processor comprising; an input/output processor, configured to acquire data corresponding to said optimization scenario from the user, and configured to distribute optimization results to the user, wherein said data comprises activity based cost data corresponding to the products for sale, and wherein said input/output processor comprises; a template controller, configured to provide first price optimization templates and second price optimization templates, wherein said price optimization templates are presented to said user to allow for prescription of said optimization scenario, and for distribution of said optimization results, and wherein said first price optimization templates comprise; a plurality of new scenario templates, configured to enable said user to prescribe scenario parameters corresponding to said optimization scenario, wherein said plurality of new scenario templates comprise; an at-large rules template, from specifying rules to govern determination of the optimum prices, said rules comprising;
maximum allowable price swing for each of the products for sale; and
maximum allowable for average price of each demand group within a plurality of demand groups; anda command interpreter;
configured to extract commands from said first price optimization templates executed by said user, and configured to populate said second price optimization templates according to result data provided for presentation to said user; anda scenario controller, coupled to said input/output processor, configured to control acquisition of said data and the distribution of said optimization results in accordance with a price optimization procedure. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17)
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18. An interface enabling a user to determine optimum prices of products for sale, comprising:
a scenario/results processor, configured to enable the user to prescribe an optimization scenario, and configured to present the optimum prices to the user, wherein the optimum prices are determined by execution of said optimization scenario, wherein said optimum prices are determined based upon estimated product demand and calculated activity based costs for products within demand groups, and wherein said estimated product demand is modeled using a Bayesian Shrinkage methodology, said scenario/results processor comprising; an input/output processor, configured to acquire data corresponding to said optimization scenario from the user, and configured to distribute optimization results to the user, wherein said data comprises activity based cost data corresponding to the products for sale, and wherein said input/output processor comprises; a template controller, configured to provide first price optimization templates and second price optimization templates, wherein said price optimization templates are presented to the user to allow for prescription of said optimization scenario, and for distribution of said optimization results, and wherein said first price optimization templates comprise; a plurality of new scenario templates, configured to enable the user to prescribe scenario parameters corresponding to said optimization scenario, wherein said plurality of new scenario templates comprise; an at-large rules template, for specifying rules to govern determination of the optimum prices, said rules comprising;
maximum allowable price swing for each of the products for sale; and
maximum allowable swing for average price of each demand group within a plurality of demand groups; anda command interpreter;
configured to extract commands from said first price optimization templates executed by the user, and configured to populate said second price optimization templates according to result data provided for presentation to the user; anda scenario controller, coupled to said input/output processor, configured to control acquisition of said data and the distribution of said optimization results in accordance with a price optimization procedure. - View Dependent Claims (19, 20, 21, 22, 23, 24, 25, 26)
Specification