Pricing and forecasting

US8676632B1 · kind B1 · utility

Assignee

• Overstock.com, Inc. · US

Inventors

• Angela L. Watson · Ann Arbor, US
• Rebecca Richardson · Holladay, US
• Anshu Jalora · Salt Lake City, US
• Wendy Liu · San Diego, US
• Ryan Hofmann · Sandy, US

Key dates

• Filing date: Jul 16, 2009
• Grant date: Mar 18, 2014
• Expiry date: Jun 16, 2031

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q30/0206
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

The pricing of a product is programmatically defined as a solution to a price optimization equation that includes an in-date constraint and an out-date constraint. The in-date constraint may require that the price established by the price optimization equation be predicted not to exhaust an inventory of the product during a first time interval. The out-date constraint may require that the same price established by the price optimization equation be predicted to exhaust an inventory of the product by the end of a second time interval.