Profitability Gauge for Product Selection Systems
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Solution Overview
Problem
The sales process is complex due to increasing supply chain complexities and the need for efficient systems that integrate customer needs with supplier profitability, as existing methods lack effective product comparison and profitability measurements, making it difficult for salespersons to quickly find suitable products under time pressure.
Innovation Solution
A system utilizing a computer program with modules for customer profiles, product information, product matching, sorting, and profitability indicators, which includes a financial measurement gauge displayed on a monitor to visually represent profitability, allowing salespersons to easily select alternative products that balance customer needs with supplier profitability.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Measurement precision
If the salesperson manually evaluates and compares multiple products against customer needs, then product selection accuracy improves, but time consumption increases significantly
Solution Approach 1:
The patent replaces the manual mechanical evaluation process with an automated computer-based system that uses algorithms to compare products against customer requirements. The system automatically retrieves product data, evaluates alternatives, and presents ranked results, eliminating the need for manual analysis while maintaining or improving accuracy.
Solution Approach 2:
The system enables self-service product selection by providing automated product matching and comparison capabilities. The computer system independently performs data retrieval, evaluation, and presentation of alternatives without requiring the salesperson's direct intervention in the analysis process.
2Productivity
If the system provides detailed product comparison features, then product selection quality improves, but system complexity increases
Solution Approach 1:
The patent divides the product selection system into distinct functional modules: a data retrieval module that collects product information, an evaluation module that compares products against requirements, and a presentation module that displays results. This segmentation allows each module to perform its specific function efficiently while keeping the overall system manageable.
Solution Approach 2:
The system is designed to handle multiple product types, customer requirements, and evaluation criteria through a unified platform. The same core architecture supports various product categories and comparison parameters, reducing the need for separate specialized systems.
3Ease of operation
If the salesperson focuses on finding the best product for the customer, then customer satisfaction improves, but supplier profitability may be compromised
Solution Approach 1:
The patent incorporates feedback mechanisms that provide the salesperson with information about both customer fit and supplier profitability for each product alternative. The system evaluates and presents products based on multiple criteria including customer requirements and business objectives, allowing the salesperson to make balanced decisions that satisfy both parties.
Data Source
AI summary
A computer based system and method for optimizing product selection is disclosed. The system has a financial measurement gauge that is stored on computer readable media and graphically displayed on a computer monitor. The financial measurement gauge has a central symbol with a plurality of marks on either side of the central symbol. The marks may take on a color; the color and placement of the marks in relationship to the central symbol being indicative of the profitability to the seller of the product being displayed with a given query.The system thus provides methods of alternative product selection that are coupled to the financial measurement gauge to optimize product selection based in part on seller profitability and value to the customer.