17970896. INTELLIGENT MANANGEMENT OF INVENTORY ITEMS IN AN INFORMATION PROCESSING SYSTEM simplified abstract (Dell Products L.P.)
Contents
- 1 INTELLIGENT MANANGEMENT OF INVENTORY ITEMS IN AN INFORMATION PROCESSING SYSTEM
- 1.1 Organization Name
- 1.2 Inventor(s)
- 1.3 INTELLIGENT MANANGEMENT OF INVENTORY ITEMS IN AN INFORMATION PROCESSING SYSTEM - A simplified explanation of the abstract
- 1.4 Simplified Explanation
- 1.5 Potential Applications
- 1.6 Problems Solved
- 1.7 Benefits
- 1.8 Potential Commercial Applications
- 1.9 Possible Prior Art
- 1.10 Original Abstract Submitted
INTELLIGENT MANANGEMENT OF INVENTORY ITEMS IN AN INFORMATION PROCESSING SYSTEM
Organization Name
Inventor(s)
Rohit Gosain of Bangalore (IN)
Shibi Panikkar of Bangalore (IN)
INTELLIGENT MANANGEMENT OF INVENTORY ITEMS IN AN INFORMATION PROCESSING SYSTEM - A simplified explanation of the abstract
This abstract first appeared for US patent application 17970896 titled 'INTELLIGENT MANANGEMENT OF INVENTORY ITEMS IN AN INFORMATION PROCESSING SYSTEM
Simplified Explanation
The patent application describes automated item management techniques that involve classifying and determining inventory amounts based on historical data and risk factors.
- The method classifies item types based on historical data from sources.
- It computes a risk factor value for each item type.
- It calculates the amount of each item type to store at different sites based on demand forecasts, classification, and risk factor values.
Potential Applications
The technology can be applied in supply chain management, inventory optimization, and logistics operations.
Problems Solved
1. Efficient inventory management based on demand forecasts and risk factors. 2. Optimal allocation of items between different storage sites.
Benefits
1. Reduced inventory holding costs. 2. Improved inventory availability. 3. Enhanced decision-making based on data-driven insights.
Potential Commercial Applications
Optimizing inventory levels in retail stores, warehouses, and distribution centers.
Possible Prior Art
There may be existing systems or methods for inventory management based on historical data and risk analysis, but the specific combination of factors and calculations outlined in this patent application may be novel.
What are the potential limitations of this technology in real-world applications?
How does this technology compare to existing inventory management systems?
Original Abstract Submitted
Automated item management techniques are disclosed. For example, for a given item type obtainable from one or more sources and storable as inventory at one of a first site or a second site and based on a given demand forecast, a method classifies the item type based on historical data associated with obtaining the item type from the one or more sources. The method computes a risk factor value for the item type based on one or more risk factors. The method then computes, for the given demand forecast and based on the classifying and the risk factor value, a first amount of the item type to store as inventory at the first site and a second amount of the item type to store as inventory at the second site.
