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Methods systems and computer program products for monitoring inventory and prices

  • US 8,666,847 B1
  • Filed: 08/01/2011
  • Issued: 03/04/2014
  • Est. Priority Date: 08/01/2011
  • Status: Active Grant
First Claim
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1. A computer-implemented method for notifying a user about replenishing an inventory item, the method comprising:

  • receiving, at a computer, electronic data indicating a number of the inventory item purchased by a user in the past and electronic data indicating prior sales of the inventory item;

    determining, with the computer, a number of the inventory item on a current date based on the number of the inventory item purchased by the user in the past and the prior sales of the inventory item;

    predicting, with the computer, a number of the inventory item on a future date based at least in part upon the number of the inventory item on the current date and a rate of consumption of the inventory item determined based on the prior sales of the inventory item;

    determining, with the computer, a price trend for the inventory item and whether to purchase the inventory item on the current date based at least in part upon the predicted number of the inventory item, the rate of consumption of the inventory item, and the price trend for the inventory item; and

    displaying to the user an indicator of whether to purchase the inventory item on the current date or on a later date.

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