MUMBAI, India, May 1 -- Intellectual Property India has published a patent application (202621031071 A) filed by Vishwakarma Institute Of Technology, Pune, Maharashtra, on March 15, for 'cloud-enabled dynamic pricing optimization system for retailers.'
Inventor(s) include Amol Vijay Patil; Swapnil K Shinde; Gajanan P Arsalwad; Mandar P Divakar; Shrikant T Shinde; Mahesh S Kurulekar; Vijaykumar Raghunath Ghule; Sonal Sachin Fatangare; Grishma Y Bobhate; and Gopal B Deshmukh.
The application for the patent was published on May 1, under issue no. 18/2026.
According to the abstract released by the Intellectual Property India: "The present invention relates to a cloud-enabled dynamic pricing optimization system for retailers. The system is configured to collect real-time and historical data from multiple internal and external sources, including point-of-sale systems, inventory management systems, customer behavior analytics, competitor pricing feeds, and market condition indicators. A cloud-based processing engine employs machine learning models and rule-based logic to generate demand forecasts, estimate price sensitivity, and compute optimized prices for individual product stock-keeping units. The optimized prices are automatically deployed across multiple retail channels, including e-commerce platforms, in-store point-of-sale systems, mobile applications, and digital signage. The system further includes a monitoring and feedback module that tracks pricing performance metrics and continuously retrains the machine learning models to improve pricing accuracy. The invention enables real-time price adjustments, personalized and location-specific pricing, enhanced revenue optimization, improved inventory turnover, and scalable deployment across distributed retail environments."
Disclaimer: Curated by HT Syndication.
