Active Life Estimation for Reissued Products
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Solution Overview
Problem
Conventional methods for estimating the active life of products, such as banknotes, inaccurately include storage time, leading to a false impression of their actual usage life.
Innovation Solution
A method that divides products into collections based on properties, registers delivery and return times, and calculates the active life by determining the time elapsed between the average delivery and return points, excluding storage time.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Device complexity
If storage time is included in the estimation of active life, then the estimation period is simplified, but the measurement precision of actual usage life deteriorates
Solution Approach 1:
The patent segments the total time period into distinct components: storage time and active life. By tracking when products are delivered to external parties and when they return, the method separates storage duration from actual usage duration, allowing accurate measurement of only the active life portion while maintaining a systematic approach to tracking.
Solution Approach 2:
The patent introduces an intermediary tracking mechanism that records delivery and return timestamps. This intermediary data layer enables the calculation of active life by computing the time difference between delivery and return events, thereby accurately measuring usage life without being confounded by storage time.
2Reliability
If products are kept in stock for replacement, then supply continuity is ensured, but inventory levels and associated costs increase
Solution Approach 1:
The patent implements a feedback mechanism where active life data of returned products is continuously collected and analyzed. This feedback enables the provider to identify products approaching the end of their active life, allowing proactive replacement ordering that ensures supply continuity while minimizing the need for large safety stock buffers.
Solution Approach 2:
By tracking active life in real-time, the system enables preliminary action - ordering replacement products before the current stock is fully depleted. This approach ensures continuous supply while reducing the need to maintain high inventory levels, as replacements are timed to arrive just when needed.
Data Source
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AI summary
The invention relates to a method for estimating the active life of products configured for being collected and reissued by a provider, the method comprising the steps of: providing a group of products; dividing the group of products into multiple collections, wherein dividing is performed on basis of one or more properties of the respective product; for each of the multiple collections, delivering the collection to an external party, thereby registering a period of time during which the collection is delivered; for each of the multiple collections, determining the average delivery point of time of the period of time in which the one collection is delivered; collecting products which are returned to the provider from an external party, thereby registering the return point of time for each of the returned products; for each returned product, determining to which collection the returned product belonged at the time of delivering the respective product; and for each returned product, determining the time elapsed between the average delivery point of time of the determined collection, and the return point of time, thereby determining the active life of the returned product.