Server and method for managing orders
A system configured for managing orders is disclosed. The system may include one or more processor(s) which may determine a plurality of merchants selling a product within a predetermined area; determine an original price of the product sold by each merchant of the plurality of determine a discount that each merchant of the plurality of merchants is willing to offer on the product; determine a minimum selling price of the product based on the original price and the discount from each merchant of the plurality of merchants; rank the plurality of merchants based on the minimum selling price of each merchant and determine top N merchants out of the plurality of merchants, wherein when a user puts in an order for the product, the system allocates the order to a highest rank merchant out of the top N merchants.
1 . A system configured for managing orders, the system comprising: one or more processor(s); and
a memory having instructions stored therein, the instructions, when executed by the one or more processor(s), cause the one or more processor(s) to:
determine, via a server, a plurality of merchants selling a product within a predetermined area;
determine, via the server, an original price of the product sold by each merchant of the plurality of merchants;
determine, via the server, a discount that each merchant of the plurality of merchants is willing to offer on the product;
determine, via a pricing engine, a minimum selling price of the product based on the original price and the discount from each merchant of the plurality of merchants; and
rank, via a ranking engine, the plurality of merchants based on the minimum selling price of each merchant and a dynamic merchant quality score determined from historical fulfillment rate, delivery time performance, and customer feedback, and determine top N merchants out of the plurality of merchants;
wherein when a user puts in an order for the product, the system automatically allocates, via an order assignment engine, the order to a highest rank merchant out of the top N merchants.
2 . The system of claim 1 , wherein the user is unaware of which merchant the one or more processor allocates the order to until the user receives the product.
3 . The system of claim 1 , wherein the one or more processor is configured to:
determine an order price for the product based a maximum selling price out of the minimum selling price of each merchant in the top N merchants.
4 . The system of claim 3 , wherein the user is notified of the order price of the product at the time of placing the order.
5 . The system of claim 1 , wherein the one or more processor is configured to:
allocate the order to a second highest rank merchant out of the top N merchants if the highest rank merchant rejects the order.
6 . The system of claim 1 , wherein the one or more processor is configured to:
receive information from each merchant out of the plurality of merchants every M period;
redetermine a new top N merchants based on the information from each merchant.
7 . The system of claim 6 , wherein the information comprises at least one of: current merchant demand, and current availability of product.
8 . The system of claim 1 , wherein the user is located in the predetermined area.
9 . A method for managing orders, the method comprising:
using one or more processor(s) to:
determine, via a server, a plurality of merchants selling a product within a predetermined area;
determine, via the server, an original price of the product sold by each merchant of the plurality of merchants;
determine, via the server, a discount that each merchant of the plurality of merchants is willing to offer on the product;
determine, via a pricing engine, a minimum selling price of the product based on the original price and the discount from each merchant of the plurality of merchants; and
rank, via a ranking engine, the plurality of merchants based on the minimum selling price of each merchant and a dynamic merchant quality score determined from historical fulfillment rate, delivery time performance, and customer feedback, and determine top N merchants out of the plurality of merchants;
wherein when a user puts in an order for the product, the system automatically allocates, via an order assignment engine, the order to a highest rank merchant out of the top N merchants.
10 . The method of claim 9 , wherein the user is unaware of which merchant the one or more processor allocates the order to until the user receives the product.
11 . The method of claim 9 , the method comprising using the one or more processor to:
determine an order price for the product based a maximum selling price out of the minimum selling price of each merchant in the top N merchants.
12 . The method of claim 11 , wherein the user is notified of the order price of the product at the time of placing the order.
13 . The method of claim 9 , the method comprising using the one or more processor to:
allocate the order to a second highest rank merchant out of the top N merchants if the highest rank merchant rejects the order.
14 . The method of claim 9 , the method comprising using the one or more processor to:
receive information from each merchant out of the plurality of merchants every M period;
redetermine a new top N merchants based on the information from each merchant.
15 . The method of claim 14 , wherein the information comprises at least one of: current merchant demand, and current availability of product.
16 . The method of claim 9 , wherein the user is located in the predetermined area.
17 . A non-transitory computer-readable medium storing computer executable code comprising instructions for managing orders according to claim 1 .