System and method of demand planning for substitutable items
US12045846B1 · kind B1 · utility
Assignee
Inventor
Key dates
| Filing date | Feb 9, 2018 |
| Grant date | Jul 23, 2024 |
| Priority date | — |
| Expiry date | Feb 9, 2038 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q30/0283
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A system and method are disclosed for planning a product assortment based on a sales forecast without using a cross elasticity by receiving a percentage pricing change for at least two substitutable products of an inventory in a supply chain network having one or more supply chain entities, and at least two substitutable products are grouped in the same product category and at least one of at least two substitutable products is grouped in a product assortment, calculating an average percent pricing change for the product category including at least two substitutable products and a direct effect factor and cross-effect factor for each of at least two substitutable products, and identifying an item of at least two substitutable items to be removed from the product assortment based, at least in part, on a substitutable demand calculated by modeling a price increase of a substitutable item to infinity.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.