Apparatus and method of allocating flight inventory resources based on the current market value
US6085164A · kind A · utility
Assignee
Inventors
Key dates
| Filing date | Mar 4, 1997 |
| Grant date | Jul 4, 2000 |
| Priority date | — |
| Expiry date | Mar 4, 2017 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q30/02
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
The present invention relates to an inventory control method and architecture that maximizes revenues derived from the sale of a given inventory resource to a customer. More particularly, the present invention uses a continuous nested execution environment that allows a determination of a minimum acceptable price by continuously computing an optimal sale price based on current demand and supply and expected cancellations. The method described accesses a centrally located information repository and retrieves an inventory resource type and value allowing requests below the minimum acceptable price to be rejected, while requests above the minimum acceptable price can be accepted thus allowing the resource provider to maximize incoming revenues from the sale of its inventory of reservations.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.