Stock management for electronic transactions

• US 10,380,541 B2
• Filed: 05/09/2014
• Issued: 08/13/2019
• Est. Priority Date: 12/30/2013
• Status: Active Grant

• Current Assignee: Wayfair LLC (Wayfair Inc.)
• Original Assignee: International Business Machines Corporation
• Inventors: Wood Bradley, Lisa Marie, Li, Nan, Wiese, Charles E., Wood, Marissa A.
• Primary Examiner(s): Ade, Garcia
• Application Number:
  US14/274,383
• Publication Number:
  US 20150186980A1
• Time in Patent Office: 1,922 Days
• Field of Search: 705 28
• CPC Class Codes: G06Q 10/087 Inventory or stock management, e.g. order filling, procurement or balancing against orders
• CPC Class Codes: G06Q 30/0202 Market predictions or forecasting for commercial activities
• CPC Class Codes: G06Q 30/0635 Processing of requisition or of purchase orders

Abstract

A method of stock management for electronic transactions with a processor, includes receiving an indication that an item of stock has been selected to be purchased by a purchaser; obtaining information relating to the purchaser; and determining whether to remove the item from stock based on the obtained information.

Claims

1. A method of stock management of an inventory of items for sale via a computer network via electronic transactions with a processor, the method comprising:

managing a database of the inventory of items available for sale, the items being physically located at one or more physical locations for shipping to purchasers;

receiving an indication that an item of stock has been selected electronically to potentially be purchased by a purchaser in response to that item being placed in an electronic holding container prior to the item actually being purchased, the purchaser using a remote user interface for browsing the database of the inventory of items available for sale;

obtaining information relating to the purchaser; and

determining whether to remove the item from stock based on the obtained information, wherein based on the determination, the item is or is not listed as available to another purchaser in the database of the inventory of items so as to minimize instances of the item being unavailable to a second purchaser due to being in the electronic holding container of a first user who does not complete purchase of the item, the method thereby controlling the inventory of items available for sale.

2. The method of claim 1, in which the information includes demographic information of the purchaser.

3. The method of claim 1, further comprising removing the item from stock before the item is purchased based on the obtained information.

4. The method of claim 1, in which the obtained information indicates a group membership of the purchaser.

5. The method of claim 1, in which the obtained information indicates a correlation between use of the electronic holding container and completed purchases.

6. The method of claim 1, in which the obtained information includes purchase history information.

7. The method of claim 1, further comprising:

when obtaining the information, obtaining a correlation between electronic holding container use and completed purchases for the purchaser,

removing the item from stock when the correlation indicates a high probability that the item will be purchased, and

maintaining the item in stock when the correlation does not indicate a high probability that the item will be purchased.

8. The method of claim 7, in which the correlation is a ratio of the number of times an item was selected for purchase to the number of times an item was purchased.

9. The method of claim 8, further comprising comparing the ratio to a threshold value.

10. The method of claim 9, further comprising:

removing the item from stock when the ratio is greater than the threshold value; and

maintaining the item in stock when the ratio is not greater than the threshold value.

11. The method of claim 7, in which the item is a low availability item.

12. The method of claim 7, in which the item is one of a number of selected items of stock.

13. The method of claim 7, in which the correlation is based on purchase frequency information, purchase quantity information, purchase value information, purchase type information, purchaser group membership information, or combinations thereof.

14. The method of claim 7, in which the correlation indicates a likelihood that the item will be purchased.

15. The method of claim 1, further comprising:

obtaining purchase history information relating to the purchaser;

removing the item from stock before a purchase when the purchase history indicates a high probability that the item will be purchased; and

maintaining the item in stock when the purchase history does not indicate a high probability that the item will be purchased.

16. The method of claim 15, in which the purchase history information indicates a frequency of past purchases.

17. The method of claim 15, in which the purchase history information indicates a quantity of past purchases.

18. The method of claim 15, in which the purchase history information indicates a value of a number of past purchases.

19. The method of claim 15, in which the purchase history information indicates a type of a number of past purchases.

20. The method of claim 19, in which a type of a number of past purchases indicates a furniture purchase, appliance purchase, media purchase, electronic goods purchase, literature purchase, household items purchase, consumable items purchase, consumer goods purchase, services, or combinations thereof.