US 11,341,520 B2Granted

Method and system to reduce food waste and optimize markdowns and control prices in retail

AssigneeWasteLess LTD

InventorsOded Omer, Ben Biron, Yossi Regev

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Abstract

Systems for determining a price of goods, reducing food waste, optimizing markdowns for the goods, and controlling prices of the goods in a retail setting are described. A scanner scans a readable identification tag affixed to a good during a time period. A pricing engine of at least one server queries, dynamically and in real-time, a database to identify, from the readable identification tag, the good and the information associated with the good. The pricing engine then applies algorithms to the identified good to calculate a price of the good and modify the calculated price of the good during the time period to optimize a target function. The optimization of the target function depends on price-calculation factors associated with a shelf-state of the good and associated with a future stock of the good. At least one calculated price based on the expiration date of the good is displayed.

Claims21

Dependent claims

A system for optimizing pricing of goods to achieve greater revenue while reducing waste in a retail setting, the system comprising:

a good;
a readable identification tag affixed to a good;
a server comprising:
a dynamic pricing engine comprising one or more algorithms;
a memory;
a processor;
and
a database configured to store information associated with the good, wherein the information comprises one or more price-calculation factors associated with a shelf-state of the good and one or more price-calculation factors associated with a future stock of the good;
the dynamic pricing engine being configured to:
query, dynamically and in real-time, the database to identify information associated with the good;
dynamically access the one or more price-calculation factors associated with the shelf-state of the good and the one or more price-calculation factors associated with the future stock of the good;
apply the one or more algorithms to the identified good to:
calculate a first price of the good during a first time period;
modify the calculated price of the good during the first time period to optimize a target function, wherein the optimization depends on the one or more price-calculation factors associated with the shelf-state of the good and the one or more price-calculation factors associated with the future stock of the good;
calculate a second price of the good during a second time period;
and
modify the calculated price of the second good during the second time period to optimize the target function, wherein the optimization depends on the one or more price-calculation factors associated with the shelf-state of the good and the one or more price-calculation factors associated with the future stock of the good, wherein the first price of the good is equal or greater than the second price of the good determined since the second time period is closer to an expiration date of the good than the first time period;
and
store the price of the good in the memory;
and
during checkout,
a barcode scanner connected to a point-of-sale (POS) terminal in a store is configured to scan the readable identification tag affixed to the good, wherein the POS terminal is connected to the server;
the processor is configured to:
access information associated with the readable identification tag stored in the memory;
and
determine an identity of the good associated with the readable identification tag and its current price;
and
the server is configured to transmit the identity of the good associated with the readable identification tag and its current price to another system managing one or more displays in real-time.

25 more elements

A system for optimizing pricing of goods to achieve greater revenue while reducing waste, the system comprising:

a good;
a readable identification tag affixed to a good;
a server comprising:
a dynamic pricing engine comprising one or more algorithms;
a memory;
a processor;
and
a database configured to store information associated with the good, wherein the information comprises one or more price-calculation factors associated with a shelf-state of the good and one or more price-calculation factors associated with a future stock of the good;
the dynamic pricing engine being configured to:
query, dynamically and in real-time, the database to identify the information associated with the good;
dynamically access the one or more price-calculation factors associated with the shelf-state of the good and the one or more price-calculation factors associated with the future stock of the good;
apply the one or more algorithms to the identified good to:
calculate a first price of the good during a first time period;
modify the calculated price of the good during the first time period to optimize a target function, wherein the optimization depends on the one or more price-calculation factors associated with the shelf-state of the good and the one or more price-calculation factors associated with the future stock of the good;
calculate a second price of the good during a second time period;
and
modify the calculated price of the second good during the second time period to optimize the target function, wherein the optimization depends on the one or more price-calculation factors associated with the shelf-state of the good and the one or more price-calculation factors associated with the future stock of the good, wherein the first price of the good is equal or greater than the second price of the good determined since the second time period is closer to an expiration date of the good than the first time period;
and
store the price of the good in the memory;
and
during checkout,
a barcode scanner connected to a point-of-sale (POS) terminal in a store is configured to scan the readable identification tag affixed to the good, wherein the POS terminal is connected to the server;
the processor is configured to:
access information associated with the readable identification tag stored in the memory;
and
determine an identity of the good associated with the readable identification tag and its current price;
and
the server is configured to transmit the identity of the good associated with the readable identification tag and its current price to another system managing one or more displays in real-time, wherein each of the one or more displays is selected from the group consisting of:
an electronic shelf-label, a screen affixed to an entire width of a shelf, a display of a mobile device, a sticker, and a display associated with the POS terminal.

26 more elements

A method for optimizing pricing of goods to achieve greater revenue while reducing waste, the method comprising:

querying, dynamically and in real-time by a server, a database of the server to identify information associated with a good,
wherein the information comprises one or more price-calculation factors associated with a shelf-state of the good and one or more price-calculation factors associated with a future stock of the good,
wherein the server comprises a dynamic pricing engine, and
wherein the dynamic pricing engine comprises one or more algorithms;
dynamically accessing, by the dynamic pricing engine, the one or more price-calculation factors associated with the shelf-state of the good and the one or more price-calculation factors associated with the future stock of the good;
applying, by the dynamic pricing engine, the one or more algorithms to the identified good to:
calculate a first price of the good during a first time period;
modify the calculated price of the good during the first time period to optimize a target function, wherein the optimization depends on the one or more price-calculation factors associated with the shelf-state of the good and the one or more price-calculation factors associated with the future stock of the good;
calculate a second price of the good during a second time period;
and
modify the calculated price of the second good during the second time period to optimize the target function, wherein the optimization depends on the one or more price-calculation factors associated with the shelf-state of the good and the one or more price-calculation factors associated with the future stock of the good, wherein the first price of the good is equal or greater than the second price of the good determined since the second time period is closer to an expiration date of the good than the first time period;
and
soring, by a memory of the server, the price of the good;
and
during checkout,
scanning, by a barcode scanner connected to a point-of-sale (POS) terminal in a store, the readable identification tag affixed to the good, wherein the POS terminal is connected to the server;
accessing, by a processor of the server, information associated with the readable identification tag stored in the memory of the server;
and
determining, by the processor of the server, an identity of the good associated with the readable identification tag and its current price;
and
transmitting, by the server, the identity of the good associated with the readable identification tag and its current price to another system managing one or more displays in real-time.

18 more elements

A system for optimizing pricing of goods to achieve greater revenue while reducing waste, the system comprising:

a good;
a readable identification tag affixed to a good;
a computing device comprising an application, wherein the application comprises a dynamic pricing engine, and wherein the dynamic pricing engine comprises one or more algorithms;
and
a database configured to store information associated with the good, wherein the information comprises one or more price-calculation factors associated with a shelf-state of the good and one or more price-calculation factors associated with a future stock of the good;
the dynamic pricing engine being configured to:
query, dynamically and in real-time, the database to identify the information associated with the good;
dynamically access the one or more price-calculation factors associated with the shelf-state of the good and the one or more price-calculation factors associated with the future stock of the good;
apply the one or more algorithms to the identified good to:
calculate a first price of the good during a first time period;
modify the calculated price of the good during the first time period to optimize a target function, wherein the optimization depends on the one or more price-calculation factors associated with the shelf-state of the good and the one or more price-calculation factors associated with the future stock of the good;
calculate a second price of the good during a second time period;
and
modify the calculated price of the second good during the second time period to optimize the target function, wherein the optimization depends on the one or more price-calculation factors associated with the shelf-state of the good and the one or more price-calculation factors associated with the future stock of the good;
and
store the price of the good in the database;
and
during checkout,
a barcode scanner connected to a point-of-sale (POS) terminal in a store is configured to scan the readable identification tag affixed to the good, wherein the POS terminal is connected to the computing device;
and
the dynamic pricing engine is configured to:
access information associated with the readable identification tag stored in the database;
determine an identity of the good associated with the readable identification tag and its current price;
and
transmit the identity of the good associated with the readable identification tag and its current price to a display in real-time.

22 more elements

A system for optimizing pricing of goods to achieve greater revenue while reducing waste, the system comprising:

a good;
a readable identification tag affixed to a good;
a computing device comprising an application, wherein the application comprises a dynamic pricing engine, and wherein the dynamic pricing engine comprises one or more algorithms;
and
a database configured to store information associated with the good, wherein the information comprises one or more price-calculation factors associated with a shelf-state of the good and one or more price-calculation factors associated with a future stock of the good;
the dynamic pricing engine being configured to:
query, dynamically and in real-time, the database to identify the information associated with the good;
dynamically access the one or more price-calculation factors associated with the shelf-state of the good and the one or more price-calculation factors associated with the future stock of the good;
apply the one or more algorithms to the identified good to:
calculate a first price of the good during a first time period;
modify the calculated price of the good during the first time period to optimize a target function, wherein the optimization depends on the one or more price-calculation factors associated with the shelf-state of the good and the one or more price-calculation factors associated with the future stock of the good;
calculate a second price of the good during a second time period;
and
modify the calculated price of the second good during the second time period to optimize the target function, wherein the optimization depends on the one or more price-calculation factors associated with the shelf-state of the good and the one or more price-calculation factors associated with the future stock of the good;
and
store the price of the good in the database;
and
during checkout,
a barcode scanner connected to a point-of-sale (POS) terminal in a store is configured to scan the readable identification tag affixed to the good, wherein the POS terminal is connected to the computing device;
the dynamic pricing engine is configured to:
access information associated with the readable identification tag stored in the database;
determine an identity of the good associated with the readable identification tag and its current price;
and
transmit the identity of the good associated with the readable identification tag and its current price to a display in real-time, wherein the display is configured to present two prices of the good simultaneously, and wherein each of the two prices of the good are associated with a different expiration date.

21 more elements

Dependencies are inferred from the claim text.

Facts

Application: 17/103,776Filed 24 Nov 2020 · continuation in part
Priority: 15 Aug 2017
Published: US 2021/0081980 A118 Mar 2021
Granted: 24 May 2022
Term ends: Not estimatedThe source records don’t support an estimate.

Classification31 codes

G06Q 30/0206
Market modelling; Market analysis; Collecting market data: price or cost determination based on market factors
G06F 16/9554
Using information identifiers, e.g. uniform resource locators [URL]: by using bar codes
G06K 7/10297
Sensing by radiation using wavelengths larger than 0.1 mm, e.g. radio-waves or microwaves: arrangements for handling protocols designed for…
G06K 7/10415
The interrogation device being adapted for miscellaneous applications: the interrogation device being fixed in its position, such as an access…

Family

Application15/677,262Parent of this continuation-in-part · filed 15 Aug 2017
US 2021/0081980 A1Pre-grant publication · published 18 Mar 2021
US 10,846,721 B2Parent of this continuation-in-part
US 2019/0057409 A1Published application
US 11,341,520 B2This patent

From the US filing history. Foreign family members aren’t listed.