Cost based dynamic pricing of goods

US7885855B2 · kind B2 · utility

Assignee

• International Business Machines Corporation · US

Inventors

• Rainer Kerth · Berlin, DE
• Seshashayee S. Murthy · Yorktown Heights, US
• Umeshchandra Patel · Santa Clara, US
• Meenakshisundaram Venkatasubramaniam · Bound Brook, US

Key dates

• Filing date: Jun 6, 2005
• Grant date: Feb 8, 2011
• Expiry date: Aug 11, 2029

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q20/4016
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

Methods and systems (200) for reducing losses related to perishables are disclosed. The perishables are grouped based on the use-by-date (UBD) and a quantity of at risk perishables are determined (210). A financial impact of the at risk perishables is calculated for each group (220). Pricing is dynamically determined for the perishables based on the financial impact and the UBD (230) and a price display is updated to indicate the pricing of the perishables (240).