LOCAL SHOPPING AND INVENTORY CONTROL

• Main Authors: JOHN ALEXANDER KONGLATHU, DAN MOISA, GENE SOKOLOV, PAUL LEE
• Format: Patent
• Language: English
• Published: 19.12.2013
• Subjects: CALCULATING; COMPUTING; COUNTING; DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES; PHYSICS; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR

PROBLEM TO BE SOLVED: To provide a system that provides customers with accurate local product information covering multiple products, retailers, and locations.SOLUTION: A computer-implemented method comprises: a step to receive data on a computer, where the data comprises first product identification information, location identification information regarding a first vendor, and a time-stamp corresponding to first time (t1) at which the products were sold; a step to determine a rate of sales events (r) for the products at the location of the vendor; a step to receive a query about the product at second time (t2), where the second time is later than the first time; a step to determine the probability of not observing any sales events during a duration of time (t3) corresponding to the difference between the first and second times (t2-t1); and a step to provide indication of product inventory of the product at the location of the vendor.