International business machines corporation (20240126245). CAPACITY PLANNING FOR EFFICIENT RESOURCE UTILIZATION simplified abstract
Contents
- 1 CAPACITY PLANNING FOR EFFICIENT RESOURCE UTILIZATION
- 1.1 Organization Name
- 1.2 Inventor(s)
- 1.3 CAPACITY PLANNING FOR EFFICIENT RESOURCE UTILIZATION - 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
CAPACITY PLANNING FOR EFFICIENT RESOURCE UTILIZATION
Organization Name
international business machines corporation
Inventor(s)
Sarbajit K. Rakshit of Kolkata (IN)
Shilpa Bhagwatprasad Mittal of Pune (IN)
CAPACITY PLANNING FOR EFFICIENT RESOURCE UTILIZATION - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240126245 titled 'CAPACITY PLANNING FOR EFFICIENT RESOURCE UTILIZATION
Simplified Explanation
The abstract describes a computer-implemented method for efficient resource utilization in manufacturing processes. The method involves creating a workflow for manufacturing a product using various machines at different plants, predicting production rates, determining raw material requirements, and optimizing the routing of raw materials to minimize costs.
- Creation of workflow for manufacturing a product using various machines at different plants
- Prediction of production rates based on the workflow
- Determination of raw material requirements for each plant
- Optimization of raw material routing to minimize inventory carrying and transportation costs
Potential Applications
This technology can be applied in various industries such as manufacturing, logistics, and supply chain management to optimize resource utilization and reduce costs.
Problems Solved
This technology helps in efficiently managing resources, predicting production rates, and minimizing costs associated with raw material transportation and inventory carrying.
Benefits
The benefits of this technology include increased efficiency, cost savings, improved production planning, and better resource utilization.
Potential Commercial Applications
Potential commercial applications of this technology include manufacturing companies, logistics firms, and organizations with complex production processes looking to optimize their resource utilization and reduce costs.
Possible Prior Art
One possible prior art for this technology could be traditional production planning and inventory management systems that do not incorporate predictive analytics and optimization algorithms to minimize costs and improve resource utilization.
What are the potential environmental impacts of implementing this technology?
Implementing this technology can lead to reduced waste and energy consumption, as it optimizes resource utilization and production processes, leading to a more sustainable operation.
How does this technology compare to existing resource optimization solutions in terms of cost-effectiveness?
This technology stands out for its predictive analytics capabilities and optimization algorithms, which can lead to significant cost savings and improved efficiency compared to traditional resource optimization solutions.
Original Abstract Submitted
a computer-implemented method, system and computer program product for efficient resource utilization. a workflow of manufacturing a product using various machines at each plant of an organization is created, where the workflow illustrates which machines are utilized to produce the product using one or more raw materials. a production rate for the product at each plant manufacturing the product is predicted based on the workflow. an amount of a raw material required by a first plant to produce the product is determined based on the predicted production rate for the product at the first plant. an amount of the raw material is then routed to the first plant from one or more other plants based on minimizing the system inventory carrying cost and minimizing the system transportation cost if the first plant needs an additional amount of the raw material to realize the predicted production rate for the product.
