METHOD AND SYSTEM TO REDUCE FOOD WASTE AND OPTIMIZE MARKDOWNS AND CONTROL PRICES IN RETAIL

摘要

Systems for determining a price of goods, reducing food waste, optimizing markdowns for the goods, and controlling prices of the goods in a retail setting are described. A scanner scans a readable identification tag affixed to a good during a time period. A pricing engine of at least one server queries, dynamically and in real-time, a database to identify, from the readable identification tag, the good and the information associated with the good. The pricing engine then applies algorithms to the identified good to calculate a price of the good and modify the calculated price of the good during the time period to optimize a target function. The optimization of the target function depends on price-calculation factors associated with a shelf-state of the good and associated with a future stock of the good. At least one calculated price based on the expiration date of the good is displayed.