MUMBAI, India, July 7 -- Intellectual Property India has published a patent application (202641079394 A) filed by Lendi Institute Of Engineering And Technology on June 27, 2026, for Development Of An Intelligent Inventory Management System Algorithms For Optimal Resource Allocation.
Inventors include Dr. K. Sridhar; Dr. K Ch Sekhar; Bobbadi Ushaswini; Ravada Ramakrishna; and Dr. Ravi Kanth Yajjala.
The application for the patent was published on July 03, 2026, under issue no. 27/2026.
Abstract: The present invention relates to a computer-implemented system and method for inventory management and optimal resource allocation. The system comprises an inventory data acquisition module, a centralized inventory database, a demand forecasting module, an inventory optimization engine, a resource allocation engine, a monitoring module, and a reporting module configured to operate in an integrated manner. The inventory data acquisition module collects inventory-related information from one or more enterprise systems and stores the information in the centralized inventory database. The demand forecasting module predicts future inventory demand using historical and real-time inventory information. The inventory optimization engine determines optimal inventory levels by considering forecasted demand, warehouse capacity, supplier lead time, safety stock, reorder point, procurement constraints, and inventory carrying cost. The resource allocation engine allocates organizational resources including warehouse space, transportation resources, manpower, and procurement resources based on the optimized inventory levels. The monitoring module continuously monitors inventory conditions and generates notifications upon detecting predefined inventory events. The reporting module generates analytical reports and dashboards for inventory planning and operational decision-making. The proposed invention improves inventory accuracy, optimizes resource utilization, reduces inventory holding costs, minimizes stock shortages, enhances warehouse utilization, and supports efficient supply chain management.
Disclaimer: Curated by HT Syndication.
