Unified Retail Operations Platform for Automated Inventory and Pricing
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
Retailers with large product inventories and fluctuating prices face challenges in accurately managing inventory and pricing due to the inefficiencies of independent systems that require manual manipulation, leading to errors, resource wastage, and incomplete knowledge.
Innovation Solution
A digital operations platform that combines independent product monitoring systems using smart tags, visual recognition models, and IoT devices to automatically manage inventory and pricing, eliminating manual processes and providing a holistic view of product locations and pricing within stores.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Measurement precision
If manual manipulation is used to manage inventory and pricing, then flexibility in handling individual products is maintained, but accuracy and productivity deteriorate due to human errors and time consumption
Solution Approach 1:
The system enables self-service automation where the operations system automatically receives product data, assigns prices, generates instructions, and updates smart tags without requiring manual human intervention. The system serves itself by autonomously managing inventory and pricing operations, eliminating human errors while maintaining high processing speed through automated workflows.
Solution Approach 2:
The patent replaces manual mechanical operations with automated electronic systems. The operations system uses electronic data processing, automated image processing, and electronic communication to substitute human manual manipulation, thereby improving both accuracy and productivity simultaneously through systematic automation.
2Reliability
If independent product monitoring systems are used, then specific product tracking is achieved, but system complexity and resource consumption increase due to multiple separate systems
Solution Approach 1:
The patent merges multiple independent product monitoring systems into a single unified operations system. This consolidated system integrates inventory tracking, pricing management, and product monitoring functions into one cohesive platform, reducing the number of separate systems while maintaining reliable product tracking through centralized data management and unified processing.
Solution Approach 2:
The operations system is designed as a universal multi-functional platform that performs multiple functions including product tracking, inventory management, pricing assignment, and automated monitoring. This single system replaces multiple specialized independent systems, reducing complexity while maintaining comprehensive product tracking capabilities through integrated multi-functionality.
3Loss of energy
If manual inventory management is used, then resource consumption is lower, but time loss and productivity deterioration occur due to manual processes
Solution Approach 1:
The operations system enables continuous automated processing of inventory and pricing operations without interruption. The system continuously receives product data, processes images, assigns prices, generates instructions, and updates smart tags in an unbroken workflow, eliminating the time losses associated with manual task switching and processing while optimizing resource utilization through sustained automated operation.
Solution Approach 2:
The system performs preliminary automated actions by pre-processing product data, pre-generating pricing instructions, and pre-updating smart tags before actual inventory movements occur. This preliminary automated preparation reduces the time required for subsequent manual operations while computing resources are efficiently utilized during the pre-processing phase.
4Loss of information
If independent systems are used for product monitoring, then specific functions are performed, but incomplete knowledge and decision-making quality deteriorate
Solution Approach 1:
The operations system merges data from all product monitoring functions into a single comprehensive information repository. By consolidating inventory data, pricing information, product images, and tracking data into one unified system, complete holistic knowledge is achieved, enabling high-quality decision-making through full information availability without the fragmentation that plagues independent systems.
Data Source
AI summary
In some implementations, a device may receive data identifying products and encoded data identifying smart tags of the products. The device may map the data and the encoded data to generate encoded product data. The device may receive encoded data provided by smart tags of products received by a store. The device may receive images of the products. The device may compare the encoded data and the encoded product data to identify a set of the products received by the store. The device may correlate the images with the set of the products. The device may process the correlated data to identify locations of the set of the products in the store. The device may generate an instruction to relocate a product to a new location and may provide the instruction to a device, associated with the store, to cause the product to be relocated to the new location.