17545684. INTERACTIVE OPTION PLAN ADJUSTMENT BASED ON DYNAMIC RULES simplified abstract (INTERNATIONAL BUSINESS MACHINES CORPORATION)

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INTERACTIVE OPTION PLAN ADJUSTMENT BASED ON DYNAMIC RULES

Organization Name

INTERNATIONAL BUSINESS MACHINES CORPORATION

Inventor(s)

Kushagra Manglik of Lucknow (IN)

Satyam Dwivedi of Bangalore (IN)

Vijay Ekambaram of Chennai (IN)

Nupur Aggarwal of Bangalore (IN)

INTERACTIVE OPTION PLAN ADJUSTMENT BASED ON DYNAMIC RULES - A simplified explanation of the abstract

This abstract first appeared for US patent application 17545684 titled 'INTERACTIVE OPTION PLAN ADJUSTMENT BASED ON DYNAMIC RULES

Simplified Explanation

The patent application describes a method that involves receiving spatial temporal factors related to products, which affect the demand for product attributes at different locations and times. Based on this input, a first option plan is dynamically modified to generate a second option plan for a specific location and time. The method is performed by a processor device connected to a memory.

  • The method receives spatial temporal factors associated with products.
  • These factors influence the demand for product attributes at different locations and times.
  • A first option plan is modified based on the received factors.
  • The modified plan is generated for a specific location and time.

Potential Applications

  • Retail industry: Optimizing product options and attributes based on location and time.
  • Supply chain management: Adjusting product offerings based on spatial temporal factors.
  • Marketing and advertising: Tailoring campaigns and promotions based on location-specific demand.

Problems Solved

  • Inefficient product planning: The method improves the planning process by considering spatial temporal factors.
  • Inaccurate demand forecasting: By incorporating these factors, the method helps in predicting demand more accurately.
  • Ineffective product customization: The method enables better customization of product options based on location and time.

Benefits

  • Improved sales and revenue: Optimizing product options based on spatial temporal factors can lead to increased customer demand and sales.
  • Enhanced customer satisfaction: Tailoring product attributes to specific locations and times can better meet customer preferences.
  • Efficient resource allocation: By dynamically modifying option plans, resources can be allocated more effectively to meet demand.


Original Abstract Submitted

A method comprises receiving as input one or more spatial temporal factors associated with one or more products where the one or more spatial temporal factors affect a demand for one or more product attributes of the one or more products at one or more locations at a select period of time and dynamically modifying a first option plan based on the received input of the one or more spatial temporal factors to generate a second option plan for a given location of the one or more locations at the select period of time. The steps are performed by at least one processor device coupled to a memory.

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