Systems and method are provided for managing inventory by determining product prices based on product characteristics. One method includes, based on a condition of the product and an age of the product, determining a new price of a returned product and modifying the database to assign the new price to the product identifier. Based on a determination that the product is not a returned product from a customer: calculating an inventory rate associated with the product; based on the calculated inventory rate, determining a new price of the product; and modifying the database to assign, to the product identifier, the inventory rate and the new price.