18065049. SYSTEM AND METHOD FOR OVERSTOCK RETAIL PRODUCT PROCESSING simplified abstract (Dell Products L.P.)
Contents
- 1 SYSTEM AND METHOD FOR OVERSTOCK RETAIL PRODUCT PROCESSING
- 1.1 Organization Name
- 1.2 Inventor(s)
- 1.3 SYSTEM AND METHOD FOR OVERSTOCK RETAIL PRODUCT PROCESSING - A simplified explanation of the abstract
- 1.4 Simplified Explanation
- 1.5 Key Features and Innovation
- 1.6 Potential Applications
- 1.7 Problems Solved
- 1.8 Benefits
- 1.9 Commercial Applications
- 1.10 Prior Art
- 1.11 Frequently Updated Research
- 1.12 Questions about Retail Inventory Management
- 1.13 Original Abstract Submitted
SYSTEM AND METHOD FOR OVERSTOCK RETAIL PRODUCT PROCESSING
Organization Name
Inventor(s)
Shibi Panikkar of Bangalore (IN)
Rohit Gosain of Bangalore (IN)
SYSTEM AND METHOD FOR OVERSTOCK RETAIL PRODUCT PROCESSING - A simplified explanation of the abstract
This abstract first appeared for US patent application 18065049 titled 'SYSTEM AND METHOD FOR OVERSTOCK RETAIL PRODUCT PROCESSING
Simplified Explanation
This patent application describes a methodology for managing overstock products at retail partners in a sales region by computing corrected demand based on total quantities.
- Receiving data about a probable overstock product at a retail partner in a sales region
- Determining the total quantity of the overstock product in the sales region
- Computing corrected demand based on the total quantity
Key Features and Innovation
- Methodology for managing overstock products at retail partners
- Correcting demand based on total quantities in the sales region
Potential Applications
This technology can be applied in retail inventory management systems to optimize stock levels and prevent overstock situations.
Problems Solved
- Efficient management of overstock products
- Preventing excess inventory at retail partners
Benefits
- Improved inventory control
- Cost savings from avoiding overstock situations
Commercial Applications
Optimized Retail Inventory Management System: This technology can be integrated into retail inventory management systems to improve stock control and reduce excess inventory costs.
Prior Art
There may be prior art related to inventory management systems and methods for optimizing stock levels in retail settings.
Frequently Updated Research
Research on retail inventory management systems and techniques for preventing overstock situations may be relevant to this technology.
Questions about Retail Inventory Management
How can this technology benefit retail partners in managing their inventory effectively?
This technology can help retail partners avoid overstock situations and optimize their stock levels, leading to cost savings and improved efficiency.
What are the key challenges faced by retail partners in managing their inventory?
Retail partners often struggle with balancing stock levels to meet demand without accumulating excess inventory, which can lead to financial losses.
Original Abstract Submitted
An example methodology implementing the disclosed techniques includes, by a computing device, receiving data about a probable overstock product at a retail partner in a sales region from another computing device, the data including a finished goods assembly (FGA) stock keeping unit (SKU) that identifies the probable overstock product and a corresponding quantity of the probable overstock product. The method also includes, by the computing device, determining a total quantity of the probable overstock product in the sales region, wherein the total quantity includes the quantity of the probable overstock product at the retail partner, and computing a corrected FGA demand of the probable overstock product in the sales region based on the total quantity of the probable overstock product in the sales region. The method further includes, by the computing device, the corrected FGA demand of the probable overstock product in the sales region.
