Method and system of demand forecasting for inventory management of slow-moving inventory in a supply chain
US11403573B1 · kind B1 · utility
2Cited by
1References
17Claims
0Family size
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Inventor
Key dates
| Filing date | Jun 3, 2015 |
| Grant date | Aug 2, 2022 |
| Priority date | — |
| Expiry date | Feb 11, 2037 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q30/0202
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A system and method are disclosed for a supply chain planner to generate a distributional demand forecast for slow-moving inventory in a supply chain. The distributional demand forecast model takes into account explanatory variables and historical sales data to address seasonality and special events and permits sharing of demand information across different stores and stock-keeping units. The supply chain planner performs inference on the explanatory variables and historical sales data to generate process parameters and latent variables. Other embodiments are also disclosed.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.