Systems, methods, and other embodiments associated with generating a price schedule are described. An inventory quantity for the item is allocated amongst a plurality of customer segments based on a predicted contribution of each customer segment to the objective function. For each customer segment, based on a quantity of inventory allocated to the customer segment, a promotion portion of the price schedule is determined that maximizes the objective function. Remaining inventory allocated to the plurality of customer segments at the end of the regular season is aggregated. Based on the aggregated inventory, a markdown portion of the price schedule for the item is determined that maximizes the objective function. The promotion portion and the markdown portion are combined to create a price schedule for the item. In one embodiment, a price schedule may be generated that includes promotions on top of markdown prices during the clearance season.