Method, apparatus, and computer program product for auto-replenishing an inventory of promotions

Abstract

A method, apparatus and computer program product are provided for providing auto-replenishment of an inventory of promotions. Auto-replenishment amounts and dates may be determined based on a variety of factors including current inventory, outstanding promotions, redemption ratios and redemption rates. Redemption ratios and redemption rates may be characterized based on provider information, consumer information, and/or promotion information. Auto-replenishment may result in a smoothed redemption curve and optimal impact to the provider.

1 .- 20 . (canceled) 
     
     
         21 . An apparatus for automating inventory replenishment of an inventory database of promotions, the apparatus comprising at least one processor and at least one memory including computer program code, the at least one memory and the computer program code configured to, with the processor, cause the apparatus to at least:
 access at least one characteristic of a provider, a current inventory of promotions for sale for redemption at the provider, outstanding promotions available for redemption at the provider and at least one of reservation data or scheduling data associated with the provider;   generate, with the processor, a redemption curve of historical redemptions of promotions at sample providers having at least one similarity with the provider;   with the processor, calculate a redemption ratio of the redemption curve of the historical redemptions of the promotions at the sample providers;   with the processor, fit the redemption curve of the historical redemptions by multiplying the redemption ratio for each of a plurality of time periods by the sum of the current inventory and the outstanding promotions such that the fitted redemption curve reflects expected redemptions;   with the processor, and using the fitted redemption curve, calculate a number of expected redemptions to occur in a next time period;   calculate, with the processor, a number of promotions to be made available for purchase and redeemable at the provider, with which to replenishment the inventory database, and a set of respective replenishment dates of the number of promotions using the fitted redemption curve of the historical redemptions reflecting the redemption ratio;   adjust the number of the promotions based on at least one of the reservation data or scheduling data, wherein the number of the promotions increases or decreases based on at least one of availability or bookings in the reservation data or the scheduling data; and   update the inventory database with the adjusted number of the promotions such that an increased current inventory is made available for purchase on the respective replenishment dates via a consumer-facing interface.   
     
     
         22 . The apparatus according to  claim 21 , wherein the sample providers having at least one similarity with the provider are determined based on at least one of a popularity, a location characteristic, a seasonality, or a category. 
     
     
         23 . The apparatus according to  claim 21 , wherein the at least one memory and the computer program code are further configured to, with the processor, cause the apparatus to at least:
 automatically repeat the calculation of the number of promotions to determine at least a second number of promotions to be made available for purchase and redeemable at the provider and at least a second set of respective replenishment dates, by monitoring the inventory database for the outstanding promotions and the current inventory of promotions at different points in time.   
     
     
         24 . The apparatus according to  claim 21 , wherein calculating the redemption ratio comprises calculating a percentage of historical redemptions relative to outstanding historical promotions and the respective historical expiration dates. 
     
     
         25 . The apparatus according to  claim 21 , wherein the at least one memory and the computer program code are further configured to, with the processor, cause the apparatus to at least:
 calculate an estimate of repeat consumers to the provider following redemption of promotions, wherein the number of promotions and the respective replenishment dates are calculated further based on the calculated estimate of repeat consumers.   
     
     
         26 . The apparatus according to  claim 21 , wherein the at least one memory and the computer program code are further configured to, with the processor, cause the apparatus to at least:
 calculate a redemption rate is as a rate per unit of time at which purchased promotions are redeemed, wherein the redemption rate is incorporated into the redemption curve.   
     
     
         27 . A computer-implemented method for automating inventory replenishment of an inventory database of promotions, the method comprising:
 accessing at least one characteristic of a provider, a current inventory of promotions for sale for redemption at the provider, outstanding promotions available for redemption at the provider and at least one of reservation data or scheduling data associated with the provider;   generating, with a processor, a redemption curve of historical redemptions of promotions at sample providers having at least one similarity with the provider;   with the processor, calculating a redemption ratio of the redemption curve of the historical redemptions of the promotions at the sample providers;   with the processor, fitting the redemption curve of the historical redemptions by multiplying the redemption ratio for each of a plurality of time periods by the sum of the current inventory and the outstanding promotions such that the fitted redemption curve reflects expected redemptions;   with the processor, and using the fitted redemption curve, calculating a number of expected redemptions to occur in a next time period;   calculating, with the processor, a number of promotions to be made available for purchase and redeemable at the provider, with which to replenishment the inventory database, and a set of respective replenishment dates of the number of promotions using the fitted redemption curve of the historical redemptions reflecting the redemption ratio;   adjusting the number of the promotions based on at least one of the reservation data or scheduling data, wherein the number of the promotions increases or decreases based on at least one of availability or bookings in the reservation data or the scheduling data; and   updating the inventory database with the adjusted number of the promotions such that an increased current inventory is made available for purchase on the respective replenishment dates via a consumer-facing interface.   
     
     
         28 . The computer-implemented method according to  claim 27 , wherein the sample providers having at least one similarity with the provider are determined based on at least one of a popularity, a location characteristic, a seasonality, or a category. 
     
     
         29 . The computer-implemented method according to  claim 27 , further comprising:
 automatically repeating the calculation of the number of promotions to determine at least a second number of promotions to be made available for purchase and redeemable at the provider and at least a second set of respective replenishment dates, by monitoring the inventory database for the outstanding promotions and the current inventory of promotions at different points in time.   
     
     
         30 . The computer-implemented method according to  claim 27 , wherein calculating the redemption ratio comprises calculating a percentage of historical redemptions relative to outstanding historical promotions and the respective historical expiration dates. 
     
     
         31 . The computer-implemented method according to  claim 27 , further comprising:
 calculating an estimate of repeat consumers to the provider following redemption of promotions, wherein the number of promotions and the respective replenishment dates are calculated further based on the calculated estimate of repeat consumers.   
     
     
         32 . The computer-implemented method according to  claim 27 , further comprising:
 calculating a redemption rate is as a rate per unit of time at which purchased promotions are redeemed, wherein the redemption rate is incorporated into the redemption curve.   
     
     
         33 . A computer program product for automating inventory replenishment of an inventory database of promotions, the computer program product comprising at least one non-transitory computer-readable storage medium having computer-executable program code instructions stored therein, the computer-executable program code instructions comprising program code instructions to:
 access at least one characteristic of a provider, a current inventory of promotions for sale for redemption at the provider, outstanding promotions available for redemption at the provider and at least one of reservation data or scheduling data associated with the provider;   generate a redemption curve of historical redemptions of promotions at sample providers having at least one similarity with the provider;   calculate a redemption ratio of the redemption curve of the historical redemptions of the promotions at the sample providers;   fit the redemption curve of the historical redemptions by multiplying the redemption ratio for each of a plurality of time periods by the sum of the current inventory and the outstanding promotions such that the fitted redemption curve reflects expected redemptions;   using the fitted redemption curve, calculate a number of expected redemptions to occur in a next time period;   calculate a number of promotions to be made available for purchase and redeemable at the provider, with which to replenishment the inventory database, and a set of respective replenishment dates of the number of promotions using the fitted redemption curve of the historical redemptions reflecting the redemption ratio;   adjust the number of the promotions based on at least one of the reservation data or scheduling data, wherein the number of the promotions increases or decreases based on at least one of availability or bookings in the reservation data or the scheduling data; and   update the inventory database with the adjusted number of the promotions such that an increased current inventory is made available for purchase on the respective replenishment dates via a consumer-facing interface.   
     
     
         34 . The computer program product according to  claim 33 , wherein the sample providers having at least one similarity with the provider are determined based on at least one of a popularity, a location characteristic, a seasonality, or a category. 
     
     
         35 . The computer program product according to  claim 33 , wherein the computer-executable program code instructions further include program code instructions to:
 automatically repeat the calculation of the number of promotions to determine at least a second number of promotions to be made available for purchase and redeemable at the provider and at least a second set of respective replenishment dates, by monitoring the inventory database for the outstanding promotions and the current inventory of promotions at different points in time.   
     
     
         36 . The computer program product according to  claim 33 , wherein calculating the redemption ratio comprises calculating a percentage of historical redemptions relative to outstanding historical promotions and the respective historical expiration dates. 
     
     
         37 . The computer program product according to  claim 33 , wherein the computer-executable program code instructions comprising program code instructions to:
 calculate an estimate of repeat consumers to the provider following redemption of promotions, wherein the number of promotions and the respective replenishment dates are calculated further based on the calculated estimate of repeat consumers.   
     
     
         38 . The computer program product according to  claim 33 , wherein the computer-executable program code instructions comprising program code instructions to:
 calculate a redemption rate is as a rate per unit of time at which purchased promotions are redeemed, wherein the redemption rate is incorporated into the redemption curve.