MUMBAI, India, June 16 -- Intellectual Property India has published a patent application (202611053822 A) filed by University Of Delhi, New Delhi, on April 28, for 'system and method for optimizing inventory and pricing decisions in an advance booking environment.'
Inventor(s) include Mona Verma; K K Aggarwal; Saurabh Verma; and Chandra K. Jaggi.
The application for the patent was published on June 5, under issue no. 23/2026.
According to the abstract released by the Intellectual Property India: "The present invention discloses a system (100) for optimizing inventory and pricing decisions in an advance booking environment, the system (100) comprising: a data acquisition module (102) configured to collect historical and real-time sales, pricing, and inventory data; a dual-period inventory modeling module (104) configured to represent an advance booking period and a spot sales period; a demand modeling module (106) configured to generate demand functions incorporating price sensitivity, time-based urgency, and inventory scarcity; a regression analysis module (108) configured to estimate demand parameters using empirical data; a profit computation module (110) configured to formulate a profit objective function including revenues, costs, and financial returns from advance payments; an optimization engine (112) configured to determine optimal decision variables using a particle swarm optimization (PSO) algorithm or equivalent metaheuristic technique; and an output interface module (114) configured to provide optimized inventory and pricing decisions."
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