Pricing and forecasting
First Claim
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1. A computer system for optimizing a price of a product, the system comprising:
- at least one processing unit and at least one memory unit;
a first set of computer-readable instructions stored in the at least one memory unit for causing the at least one processing unit to define an optimal price for said product in satisfaction of a first constraint and a second constraint, said first constraint requiring that a quantity of the product predicted to be sold during a first time interval be less than an inventory of the product and said second constraint requiring that a quantity of product predicted to be sold by an end of a second time interval exhaust the inventory of the product;
wherein the first set computer-readable instructions stored in the at least one memory unit cause the at least one processing unit to define the optimal price by;
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Abstract
The pricing of a product is programmatically defined as a solution to a price optimization equation that includes an in-date constraint and an out-date constraint. The in-date constraint may require that the price established by the price optimization equation be predicted not to exhaust an inventory of the product during a first time interval. The out-date constraint may require that the same price established by the price optimization equation be predicted to exhaust an inventory of the product by the end of a second time interval.
274 Citations
5 Claims
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1. A computer system for optimizing a price of a product, the system comprising:
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at least one processing unit and at least one memory unit; a first set of computer-readable instructions stored in the at least one memory unit for causing the at least one processing unit to define an optimal price for said product in satisfaction of a first constraint and a second constraint, said first constraint requiring that a quantity of the product predicted to be sold during a first time interval be less than an inventory of the product and said second constraint requiring that a quantity of product predicted to be sold by an end of a second time interval exhaust the inventory of the product; wherein the first set computer-readable instructions stored in the at least one memory unit cause the at least one processing unit to define the optimal price by; - View Dependent Claims (2, 3, 4, 5)
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Specification