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:
Dec. 20, 2022
Filed:
Oct. 12, 2018
Walmart Apollo, Llc, Bentonville, AR (US);
Sai Zhang, Foster City, CA (US);
Peibei Shi, Foster City, CA (US);
Quoc Tan Tran, Los Altos, CA (US);
WALMART APOLLO, LLC, Bentonville, AR (US);
Abstract
Systems and methods including one or more processing modules and one or more non-transitory storage modules storing computing instructions configured to run on the one or more processing modules and perform acts of calculating a halo weight for at least one item of a set of items, where the halo weight can comprise an effect sales of the at least one item has on sales of the set of items; calculating an item-wise elasticity for the at least one item; calculating a line-wise elasticity for the at least one item of the set of items; calculating an aggregate elasticity for the at least one item using the item-wise elasticity and the line-wise elasticity; calculating a demand forecast for the at least one item of the set of items; optimizing an objective function comprising the halo weight, the aggregate elasticity, the demand forecast, and at least one external constraint; adjusting at least one price of the at least one item based on the objective function, as optimized; and displaying the at least one price, as adjusted, on a display device. Other embodiments are disclosed herein.