METHODS AND APPARATUSES FOR DETERMINING PRODUCT ASSORTMENT

• Main Authors: Li, Taizhou, Kumaran, Karthik, Lomte, Satish Shivajirao, Uniyal, Mayank, Thangali, Avinash, Kuhn, Kenneth, Zeng, Jacy, Jones, Ryan Anthony, Yang, Peter Jie
• Format: Patent
• Language: English
• Published: 03.08.2023
• 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

A system for determining recommended product assortments for a retail environment includes at least one computing device that obtains store layout data, product data and forecast data. The forecast data characterizes projected sales information for the products described in the product data. The computing device also obtains demand transference data characterizing changes in demand for one or more products when a different product is unavailable and obtains product replenishment data characterizing a cost to re-stock products. The computing device also determines a recommended product assortment for the products described in the product data for each store described in the store layout data based on the forecast data, the demand transference data, and the product replenishment data and then displays the recommended product assortment.