Company Filing History:
Years Active: 2007
Title: Innovations by John Close in Price Optimization
Introduction
John Close is an accomplished inventor based in San Francisco, CA, known for his contributions to the field of price optimization. With a total of three patents to his name, Close has developed innovative solutions that enhance the pricing strategies of products in the market.
Latest Patents
One of Close's latest patents is titled "Selective Merchandise Price Optimization." This invention features an interface that allows users to determine the optimum prices for products for sale. The interface includes a scenario/results processor that enables users to prescribe an optimization scenario, presenting optimum prices based on estimated product demand and calculated activity-based costs. The scenario/results processor is equipped with an input/output processor and a scenario controller, which manage data acquisition and distribution of optimization results according to a price optimization procedure. This procedure is designed to relax constraints of lower priority conflicting rules to make the optimization scenario feasible.
Another significant patent by Close is the "Selective Merchandise Price Optimization Mechanism." This method optimizes product prices by utilizing a computer-based scenario/results processor within an optimization server. Users can specify an optimization scenario and prioritize rules for the optimization process. The method includes estimating market demand and calculating demand chain costs for the products, while selectively limiting the number of prices optimized. The optimization process progressively relaxes lower priority rules that contribute to conflicts, ensuring feasibility in the optimization scenario.
Career Highlights
John Close is currently employed at Demandtec, Inc., where he continues to innovate in the field of price optimization. His work has significantly impacted how companies approach pricing strategies, making them more efficient and data-driven.
Collaborations
Close has collaborated with notable colleagues, including Phil Delurgio and Michael R Neal, who have contributed to his projects and innovations.
Conclusion
John Close's work in price optimization showcases his inventive spirit and dedication to improving market strategies. His patents reflect a deep understanding of market dynamics and the importance of data in decision-making.