Patent ID: 8352355
Filing Date: 2013-01-08
Classification: G06Q

Abstract:
1. A method of estimating prices for each line item in a multi-commodity request-for-quote, comprising: receiving a request for quote for a bid configuration including a product k and a plurality of accessory items l associated with the product k; determining product k's win probability q determining an expected profit margin and approved price of the product k as a function of product k's profit margin z determining accessory item l's conditional win probability q determining an expected profit margin of each of the plurality of accessory items l as a function of accessory item l's profit margin z determining, by a processor, prices for the product and each of the plurality of accessory items by solving an optimization formulation that is a function of a sum of the expected profit margin of the product and the expected profit margin of one or more of the accessory items.