MUMBAI, India, Sept. 5 -- Intellectual Property India has published a patent application (202047049811 A) filed by Coupang Corp., Seoul, Republic of Korea, on Nov. 15, 2020, for 'systems and methods for optimization of a product inventory by intelligent adjustment of inbound purchase orders.'
Inventor(s) include Wang, Yang; Wei, Wei; Zhang, Guangyao; and Carlson, Christopher.
The application for the patent was published on Sept. 5, under issue no. 36/2025.
According to the abstract released by the Intellectual Property India: "Computer-implemented systems and methods for intelligent generation of purchase orders are disclosed. The systems and methods may be configured to: receive one or more demand forecast quantities of one or more products, the products corresponding to one or more product identifiers, and the demand forecast quantities comprising a demand forecast quantity for each product for each unit of time; receive supplier statistics data for one or more suppliers, the suppliers being associated with a portion of the products; receive current product inventory levels and currently ordered quantities of the products; determine order quantities for the products based at least on the demand forecast quantities, the supplier statistics data, and the current product inventory levels; prioritize the order quantities; distribute the prioritized order quantities to one or more locations; and generate purchase orders to the suppliers for the products based on the distributed order quantities."
The patent application was internationally filed on Sept. 21, 2020, under International application No.PCT/IB2020/058780.
Disclaimer: Curated by HT Syndication.
