Retail Asset Tag Tracking With Beacon Feedback Analytics
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Solution Overview
Problem
Merchants face challenges in determining the availability and tracking of physical sample assets in retail locations, which affects their ability to follow up on customer interactions and optimize merchandising strategies.
Innovation Solution
A system integrating advanced transmitter technology with computer processing power to capture and analyze data from tags affixed to assets, using wireless communication protocols to track asset location and behavior, and generate business intelligence through a global processing unit.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If physical sample assets are deployed in retail locations for merchandising programs, then customer engagement and lead generation opportunities are improved, but the ability to track asset availability and location deteriorates
Solution Approach 1:
The asset tag autonomously tracks and transmits its own location and availability data without requiring manual intervention. The tag independently performs sensing, data processing, and communication functions, enabling self-monitoring of asset status and automatic reporting to the system.
Solution Approach 2:
The system establishes a feedback loop where asset location and status data are continuously collected by tags, transmitted through gateways to processing units, and used to generate actionable insights. This feedback mechanism enables real-time monitoring and decision-making regarding asset deployment and customer engagement.
2Device complexity
If manual tracking methods are used for physical sample assets, then system complexity is reduced, but productivity and tracking accuracy deteriorate
Solution Approach 1:
The patent replaces manual mechanical tracking methods with an automated electronic system. Tags use sensors and wireless communication to automatically transmit location data, eliminating the need for manual recording and processing while significantly improving tracking efficiency and accuracy.
Solution Approach 2:
The system introduces intermediate components (tags, gateways, processing units) that mediate between the physical assets and the tracking system. These intermediaries handle data collection, transmission, and processing, simplifying the overall system architecture while enhancing tracking capabilities.
3Loss of information
If continuous monitoring of asset location is implemented, then asset availability information is improved, but energy consumption by tags deteriorates
Solution Approach 1:
Instead of continuous monitoring, the system employs periodic transmission of location data by tags. Tags transmit their status at scheduled intervals rather than continuously, reducing energy consumption while still providing sufficient information for effective asset tracking and management.
Applied Scientific Principles
This section explains which scientific principles are used to turn an abstract innovation direction into a practical engineering solution.
Function Achieved in This Case
Enables precise tracking and analysis of asset movements, providing actionable insights for merchandising and customer interaction, enhancing operational efficiency and customer engagement.
Implementation Method 1
each tag includes: a sensor configured to sense a position of the tag within the site
Implementation Method 2
a beacon configured to broadcast a signal encoding raw data including at least an identifier associated with the asset and data associated with the sensed position
Implementation Method 3
a receiver configured to receive the signal
Data Source
AI summary
Systems and methods for tracking assets are disclosed. Each asset is associated with a zone of a site and a stock keeping unit (SKU). Assets have a tag affixed thereto. The tag includes a beacon broadcasting a signal. Gateways in the site receive the signals and determine a signal characteristic for each, extract data encoded in the signals, and transmit the data, the signal characteristic and a time associated with each radio signal to a processing unit. The processing receives the data, the signal characteristics and the times, computes asset locations based on the signal characteristics, process some asset locations and the data associated with a given asset to generate event data, store the event data and the asset locations, and aggregates a subset of the event data related to a subset of the assets associated with a given SKU and to provide business intelligence related to the given SKU.