Method of making changes to product mixes on boundary constrained shelves by determining optimal business metrics from a product mix constrained by at least physical shelf space and at least one business rule

US11244271B2 · kind B2 · utility

Inventors

• Daniel Palmer · Muscat, OM
• Menkes Hector Louis van den Briel · Canteen Creek, AU
• Mark Ross Lawrenson · Sydney, AU

Key dates

• Filing date: Sep 10, 2020
• Grant date: Feb 8, 2022
• Expiry date: Sep 10, 2040

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q30/02
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

The present invention relates to a computer implemented method of determining optimal business metrics from a product mix constrained by at least physical shelf space and selectively by at least one business rule. The computer implemented method comprising the steps of defining a boundary constrained shelf space, placing, physically, a product mix within the boundary constrained shelf space, and creating a product mix ranking based, in part, on prior sales of each of the product type. The computer implemented method continues by using a data processing device to develop, through algorithmic autonomous learning, achievable business metric performance of the boundary constrained shelf space. In this regard, a group of similar product mix/ranking is optimized to create an ideal product mix/ranking which is then use to inform changes to make to the product mix to achieve the desired OPTIMAL BUSINESS METRIC.