Patent ID: 6061691
Filing Date: 2000-05-09
Classification: G06Q,Y10S

Abstract:
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.