INVENTORY MANAGEMENT SYSTEM

Methods and systems for optimizing inventory management by forecasting Stock Keeping Units (SKUs) to be supplied by a consumer packaged goods (CPG) manufacturer to a retailer are provided. A data receiving module receives marketing data, point of sale data, social-media data, and miscellaneous data...

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Bibliographic Details
Main Authors BANSAL VANDITA, RAY SOUMEN, SAXENA AVNEET
Format Patent
LanguageEnglish
Published 21.04.2016
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
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Summary:Methods and systems for optimizing inventory management by forecasting Stock Keeping Units (SKUs) to be supplied by a consumer packaged goods (CPG) manufacturer to a retailer are provided. A data receiving module receives marketing data, point of sale data, social-media data, and miscellaneous data from one or more data sources. An analysis module, analyzes the social-media data, computes a social-media score. The analysis module generates one or more variables from the marketing data, the point of sale data and the miscellaneous data. The analysis module transforms the one or more variables and the social-media score into one or more transformed variables. A forecasting module forecasts a demand of the SKUs. The forecasting module determines a probability of the OOS and a replenishment time in order to obtain an optimal solution indicating the SKUs to be supplied by the CPG manufacturer to the retailer.
Bibliography:Application Number: US201514856726