METHOD AND APPARATUS FOR DYNAMICALLY MANAGING VENDING MACHINE INVENTORY PRICES

• US 20080046113A1
• Filed: 10/29/2007
• Published: 02/21/2008
• Est. Priority Date: 10/09/1997
• Status: Abandoned Application

• Current Assignee: Daniel Tedesco, James Jorasch, Robert Raymond Lech
• Original Assignee: Daniel Tedesco, James Jorasch, Robert Raymond Lech
• Inventors: Tedesco, Daniel, Lech, Robert, Jorasch, James
• Application Number:
  US11/926,839
• Publication Number:
  US 20080046113A1
• Time in Patent Office: Days
• US Class Current: 700/213
• CPC Class Codes: G06Q 10/087 Inventory or stock management, e.g. order filling, procurement or balancing against orders
• CPC Class Codes: G06Q 20/201 Price look-up processing, e.g. updating
• CPC Class Codes: G06Q 20/203 Inventory monitoring
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0206 Price or cost determination based on market factors
• CPC Class Codes: G06Q 30/0283 Price estimation or determination
• CPC Class Codes: G07F 17/3255 Incentive, loyalty and/or promotion schemes, e.g. comps, gaming associated with a purchase, gaming funded by advertisements
• CPC Class Codes: G07F 9/026 for alarm, monitoring and auditing in vending machines or means for indication, e.g. when empty

Abstract

The present invention is a method and apparatus for automatically managing a price of a product in a vending machine. The method and apparatus is disclosed for implementing dynamic price adjustments at various times including after stocking, after a sale of a product and at periodic intervals. The method generally includes the steps of updating inventory data, including a quantity of a product, accessing price management data associated with the product, and determining the price of the product. According to the method and apparatus of the present invention, the determined price of the product is based on the price management data and the inventory data. The determined price is then stored in a memory of the apparatus and displayed for customers. The apparatus may be a vending machine, a processing module within the vending machine, or an external module remotely transmitting the dynamically adjusted price to a vending machine.

Claims

1. A method, comprising:

receiving, by a vending machine, an indication of a product requested for purchase by a customer;

receiving, by the vending machine, an indication of payment provided by the customer for the purchase of the product;

determining, by the vending machine, and after the receiving of the request by the customer, an available quantity of the product within the vending machine;

determining, by the vending machine, that the available quantity of the product is sufficient to satisfy the request of the customer;

dispensing, via the vending machine, and after the determination that the available quantity of the product is sufficient to satisfy the request of the customer, the requested product to the customer;

determining, via the vending machine, and after the dispensing of the requested product, and based at least in part on a number of purchases that have occurred since a previous evaluation, that a current price of the product requires evaluation;

determining, via the vending machine, and after the determination that the current price of the product requires evaluation, a change in demand associated with the product;

determining, via the vending machine, a demand increment;

determining, via the vending machine, that the change in demand is greater than the demand increment; and

determining, via the vending machine, and after the determination that the change in demand is greater than the demand increment, an updated price for the product, the updated price being different than the current price associated with the product.

2. A vending machine, comprising:

an inventory of products offered for sale via said vending machine, said inventory of products at least comprising a positive number of units of a first product of said inventory of products;

a memory configured to store, in association with said first product;

price management data comprising at least a minimum price, a maximum price, and a price adjustment increment;

inventory data indicative of said number of units of said first product; and

current price data for each unit of said number of units of said first product; and

a processor operatively coupled to said memory, said processor configured to;

determine, based on a time-related evaluation criteria that is based on a number of purchases that have been made via said vending machine, that a current price of each unit of said number of units of said first product should be evaluated;

access, based on a determination that said current price of each unit of said number of units of said first product should be evaluated, said price management data, said inventory data, and said current price data; and

determine said price of each unit of said number of units of said first product, said price being based on said price management data, said inventory data, and said current price data, and wherein said price is between said minimum price and said maximum price and is an even multiple of said price adjustment increment.

3. A vending machine, comprising:

an inventory of products offered for sale via said vending machine, said inventory of products at least comprising a positive number of units of a first product of said inventory of products;

a memory configured to store, in association with said first product;

time-related price evaluation data comprising data related to a number of purchases that have been made via said vending machine;

price management data comprising at least data identifying a minimum price and data identifying a price adjustment increment;

inventory data indicative of said number of units of said first product; and

current price data for each unit of said number of units of said first product; and

a processor operatively coupled to said memory, said processor configured to;

access said time-related price evaluation data;

compare said time-related price evaluation data to a predetermined threshold that defines a threshold number of purchases made via said vending machine, to determine whether to update a current price of each unit of said number of units of said first product;

access, based on a determination that said current price of each unit of said number of units of said first product should be updated, said price management data, said inventory data, and said current price data; and

determine said price of each unit of said number of units of said first product, said price being based on said price management data, said inventory data, and said current price data, and wherein said price is greater than said minimum price and is an even multiple of said price adjustment increment.