The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Mar. 08, 2022
Filed:
Apr. 10, 2019
Oracle International Corporation, Redwood Shores, CA (US);
Su-Ming Wu, Waltham, MA (US);
Andrew Vakhutinsky, Sharon, MA (US);
Setareh Borjian Boroujeni, Burlington, MA (US);
Santosh Bai Reddy, Burlington, MA (US);
Kiran V. Panchamgam, Burlington, MA (US);
Sajith Vijayan, Burlington, MA (US);
Mengzhenyu Zhang, Ann Arbor, MI (US);
ORACLE INTERNATIONAL CORPORATION, Redwood Shores, CA (US);
Abstract
Embodiments determine a price schedule for an item by, for each item, receiving a set of prices for the item, an inventory quantity for the item, a per-segment demand model for the item, and an objective function that is a function of the per-segment demand model and maximizes revenue based at least on a probability of a return of the item and a cost of the return. Embodiments allocate the inventory quantity among a plurality of customer segments based at least on a predicted contribution of each customer segment to the objective function. Embodiments determine a markdown portion of the price schedule for the item that maximizes the objective function, where the markdown portion assigns a series of prices selected from the set of prices for respective time periods during a clearance season for the item.