Dell products l.p. (20240135313). INTELLIGENT MANANGEMENT OF INVENTORY ITEMS IN AN INFORMATION PROCESSING SYSTEM simplified abstract
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 How does the method handle sudden changes in demand forecasts?
- 1.11 What types of risk factors are considered in the computation of risk factor values?
- 1.12 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 20240135313 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 storing items based on historical data and risk factors.
- The method classifies item types based on historical data from one or more sources.
- It computes a risk factor value for each item type based on one or more risk factors.
- It determines the amount of each item type to store at different sites based on demand forecasts, classification, and risk factor values.
Potential Applications
The technology could be applied in supply chain management, inventory optimization, and logistics operations.
Problems Solved
1. Efficient allocation of inventory based on demand forecasts and risk factors. 2. Minimizing stockouts and excess inventory levels.
Benefits
1. Improved inventory management efficiency. 2. Cost savings through optimized inventory levels. 3. Enhanced customer satisfaction with better product availability.
Potential Commercial Applications
Optimized inventory management software for retail chains, e-commerce platforms, and manufacturing companies.
Possible Prior Art
There may be existing inventory management systems that use historical data and risk factors to optimize inventory levels, but the specific method described in this patent application may be novel.
Unanswered Questions
How does the method handle sudden changes in demand forecasts?
The patent application does not provide details on how the system adjusts inventory levels in response to sudden changes in demand forecasts.
What types of risk factors are considered in the computation of risk factor values?
The patent application mentions the use of risk factors but does not specify the exact factors that are taken into account in the calculations.
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.
