Patent ID: 8676632
Filing Date: 2014-03-18
Classification: G06Q

Abstract:
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: where: where: where: where: and where: q A is a set of SKUs in the choice set, B is a cardinality of set A, I T is a number of periods over which to optimize, t is an index for time periods, s p d Q β