Staples has patented technology for optimizing automated inventory management. The system uses a stocking decision engine to determine affinities between unit identifiers, calculate ICEPO values, and select subsets of unit identifiers for stocking decisions. This innovative system aims to improve efficiency in inventory replenishment processes. GlobalData’s report on Staples gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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According to GlobalData’s company profile on Staples, Autonomous delivery mgmt was a key innovation area identified from patents. Staples's grant share as of May 2024 was 62%. Grant share is based on the ratio of number of grants to total number of patents.
Automated inventory management system for stocking and destocking items
A recently granted patent (Publication Number: US11989688B2) discloses a system that includes a stocking decision engine and an inventory replenishment system. The stocking decision engine is responsible for determining affinities between unit identifiers based on order level data, calculating incremental carton and expense prevention opportunity (ICEPO) values, and generating a subset of unit identifiers to be transmitted to the inventory replenishment system. The inventory replenishment system, on the other hand, receives the subset of unit identifiers and automatically stocks or destocks items in a fulfillment center based on this information. Additionally, the system can forecast demand for items in a specific geographic region and generate electronic data signals for inventory management purposes.
Furthermore, the system allows for the calculation of ICEPO values, contribution values, and adjusted fulfillment center stocking scores to optimize stocking decisions. It leverages machine learning models trained on order level data to compute forecast data and uses this information to select the subset of unit identifiers for stocking or destocking operations. The system also considers delivery expenses and fulfillment center capacities in its decision-making process. Overall, this patented system offers a sophisticated approach to inventory management by utilizing data-driven insights and automation to enhance efficiency and accuracy in stocking decisions for fulfillment centers.
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