Identification sensor for communicable linkage with competitive proposal system

• US 10,846,637 B2
• Filed: 04/20/2016
• Issued: 11/24/2020
• Est. Priority Date: 04/20/2016
• Status: Active Grant

• Current Assignee: Bank of America Corp.
• Original Assignee: Bank of America Corp.
• Inventors: Beye, Ricki A., Russo, Karrin A.
• Primary Examiner(s): Ullah, Arif
• Application Number:
  US15/133,617
• Publication Number:
  US 20170308833A1
• Time in Patent Office: 1,679 Days
• Field of Search: None
• CPC Class Codes: G06Q 10/06315 Needs-based resource requirements planning or analysis
• CPC Class Codes: G06Q 10/087 Inventory or stock management, e.g. order filling, procurement or balancing against orders

Abstract

Embodiments of the invention are directed to a system, method, or computer program product for an identification sensor system providing real-time item negotiation information and merchant inventory communication and management. A user selects items at a merchant location and positions them inside a communication enabled container communicably linked with a user device and a merchant inventory system. Information related to the items positioned within the container such as resource amount for the item, offers associated with the item, and manufacturer information associated with the item is extracted from the inventory system and relayed to the user. Upon the container passing through a communication enabled merchant gate device, the identification sensor system transmits collected information related to the items within the container, triggers a communicable linkage to determine a preferred resource to provide a total resource amount required by the merchant, and requires the transmission of the preferred resource to the merchant.

Claims

1. An identification sensor system providing real-time inventory communication and management, the system comprising:

a computer apparatus including a processor, a memory device, a communication device, and a reader device; and

a software module stored in the memory, comprising computer-readable instructions that when executed by the processor cause the processor to;

generate a communication enabled container, wherein the communication enabled container comprises a receptacle which comprises one or more identification sensors for collecting information related to items placed in the receptacle;

link, upon triggering of identification of the communication enabled container being within a merchant location, the communication enabled container with a user device associated with a user;

scan, upon an item being positioned within the receptacle of the communication enabled container, one or more identifiers associated with the item via the one or more identification sensors;

extract item information associated with the item from an inventory system based on an identification of the one or more identifiers matching item identifiers stored in a database on the inventory system, wherein the item information comprises a resource amount for the item, offers associated with the item, and manufacturer information associated with the item;

trigger communication with a competitive cloud based proposal network to identify and acquire term change proposals from one or more resource managers separate from the merchant for the item positioned within the communication enabled container, wherein the term change proposals comprise changes to pre-established payment terms including a change in interest rate, change in amount of cash back earned by the user, and change in amount of reward points earned by the user;

display, in real-time via a display on the user device, a total resource amount required by the merchant for all of the items in the communication enabled container;

identify the communication enabled container passing through a merchant gate device;

trigger a communicable linkage for the user to;

(a) select the communication enabled container that the user selects to include in a transaction and (b) provide a preferred resource to satisfy the total resource amount required by the merchant or the one or more resource managers;

perform a subsequent scan and identify, by using the one or more identifiers associated with the items, that a subset of one or more items is removed from the communication enabled container;

transmit geolocation information for the subset of one or more items removed from the communication enabled container to the merchant;

and require, based on triggering the communicable linkage for determining the preferred resource, a transmission of the preferred resource to the merchant to provide the total resource amount required based on the item positioned within the communication enabled container and the acquire term change proposals.

2. The system of claim 1, wherein triggering the communicable linkage for determining a preferred resource to provide the total resource amount required by the merchant further comprises:

identifying user resources and one or more resource managers associated with the identified user resources;

generating a user-specific competitive proposal profile, wherein the user-specific competitive proposal profile comprises user resources, user preferences, historic resource trends, and resource manager terms for resource use;

triggering a communicable linkage with the one or more resource managers based on receiving a determined total resource amount required by a merchant;

opening the communicable linkage with the one or more resource managers for resource manager term change proposals for providing the total resource amount to the merchant;

receiving term change proposals from the one or more resource managers through the communicable linkage;

generating a ranked list of resources from the one or more resource managers for providing the total resource amount to the merchant, wherein the ranked list of resources further comprise an order of preferred term changes relative to the user preferences;

transmitting the ranked list of resources from the one or more resource managers to the user device; and

allowing user selection of one of the ranked list of resources for providing the total resource amount to the merchant.

3. The system of claim 1, wherein extracting item information associated with the item from the inventory system further comprises:

generating a database of store inventory, wherein the database contains information related to items maintained by the merchant at a merchant location such as a number of items currently in stock, location of the items, prices of the items, manufacturer information associated with the items, and/or offers associated with the items;

generating a communicable linkage with the communication enabled container;

receiving from the communication enabled container an indication of the item being placed in the communication enabled container;

updating, based on receiving the indication of the item being placed in the communication enabled container, the database of store inventory;

receiving from the communication enabled container an indication of the item being removed from the communication enabled container; and

updating, based on receiving the indication of the item being removed from the communication enabled container, the database of store inventory.

4. The system of claim 3, wherein updating the store inventory further comprises:

identifying from the database of store inventory that stock of a particular item has fallen below a predetermined threshold; and

ordering automatically, based on identifying from the database of store inventory that the stock of the particular item has fallen below the predetermined threshold, more of the particular item.

5. The system of claim 1, wherein receiving from the communication enabled container an indication of the item being removed from the communication enabled container comprises receiving a GPS location of the communication enabled container associated with the location that the item is removed.

6. The system of claim 1, wherein extracting item information associated with the item from the inventory system further comprises:

extracting one or more offers associated with the item from the inventory system;

presenting the one or more offers associated with the item to the user via the user device;

allowing the user to select one or more offers via the user device; and

applying a user-selected offer to the total resource amount required by the merchant.

7. The system of claim 6, wherein presenting the one or more offers associated with the item to the user via the user device comprises presenting the total resource amount required by the merchant to the user in an audio format via speakers or headphones associated with the user device.

8. The system of claim 1, wherein displaying the total resource amount required by the merchant in real-time via a user device comprises presenting the total resource amount required by the merchant to the user in an audio format via speakers or headphones associated with the user device.

9. The system of claim 1, wherein requiring a transmission of the preferred resource to the merchant to provide the total resource amount required by the merchant comprises prompting the user to select the preferred resource from a ranked list of resources on a user device.

10. The system of claim 1, wherein requiring a transmission of the preferred resource to the merchant to provide the total resource amount required by the merchant comprises automatically, after a pre-determined period of time, selecting the preferred resource to provide the total resource amount if the user does not select a resource from a ranked list of resources in a predetermined amount of time.

11. The system of claim 1, wherein the merchant gate device is also a merchant point-of-transaction device.

12. The system of claim 1, wherein the communication enabled container further comprises a display device.

13. A computer program product for an identification sensor system providing real-time inventory communication and management, the computer program product comprising at least one non-transitory computer-readable medium having computer-readable program code portions embodied therein, the computer-readable program code portions comprising:

an executable portion configured for generating a communication enabled container, wherein the communication enabled container comprises a receptacle which comprises one or more identification sensors for collecting information related to items placed in the receptacle;

an executable portion configured for linking, upon triggering of identification of the communication enabled container being within a merchant location, the communication enabled container with a user device associated with a user;

an executable portion configured for scanning, upon an item being positioned within the receptacle of the communication enabled container, one or more identifiers associated with the item via the one or more identification sensors;

an executable portion configured for extracting item information associated with the item from an inventory system based on an identification of the one or more identifiers matching item identifiers stored in a database on the inventory system, wherein the item information comprises a resource amount for the item, offers associated with the item, and manufacturer information associated with the item;

an executable portion configured for triggering communication with a competitive cloud based proposal network to identify and acquire term change proposals from one or more resource managers separate from the merchant for the item positioned within the communication enabled container, wherein the term change proposals comprise changes to pre-established payment terms including a change in interest rate, change in amount of cash back earned by the user, and change in amount of reward points earned by the user;

an executable portion configured for displaying, in real-time via a display on the user device, a total resource amount required by the merchant for all of the items in the communication enabled container;

an executable portion configured for identifying the communication enabled container passing through a merchant gate device;

an executable portion configured for triggering a communicable linkage for the user to;

(a) select the communication enabled container that the user selects to include in a transaction and (b) provide a preferred resource to satisfy the total resource amount required by the merchant or the one or more resource managers;

perform a subsequent scan and identify, by using the one or more identifiers associated with the items, that a subset of one or more items is removed from the communication enabled container;

transmit geolocation information for the subset of one or more items removed from the communication enabled container to the merchant;

and an executable portion configured for requiring, based on triggering the communicable linkage for determining the preferred resource, a transmission of the preferred resource to the merchant to provide the total resource amount required based on the item positioned within the communication enabled container and the acquire term change proposals.

14. The computer program product of claim 13, wherein triggering the communicable linkage for determining a preferred resource to provide the total resource amount required by the merchant further comprises:

identifying user resources and one or more resource managers associated with the identified user resources;

generating a user-specific competitive proposal profile, wherein the user-specific competitive proposal profile comprises user resources, user preferences, historic resource trends, and resource manager terms for resource use;

triggering a communicable linkage with the one or more resource managers based on receiving a determined total resource amount required by a merchant;

opening the communicable linkage with the one or more resource managers for resource manager term change proposals for providing the total resource amount to the merchant;

receiving term change proposals from the one or more resource managers through the communicable linkage;

generating a ranked list of resources from the one or more resource managers for providing the total resource amount to the merchant, wherein the ranked list of resources further comprise an order of preferred term changes relative to the user preferences;

transmitting the ranked list of resources from the one or more resource managers to the user device; and

allowing user selection of one of the ranked list of resources for providing the total resource amount to the merchant.

15. The computer program product of claim 13, wherein extracting item information associated with the item from the inventory system further comprises:

generating a database of store inventory, wherein the database contains information related to items maintained by the merchant at a merchant location such as a number of items currently in stock, location of the items, prices of the items, manufacturer information associated with the items, and/or offers associated with the items;

generating a communicable linkage with the communication enabled container;

receiving from the communication enabled container an indication of the item being placed in the communication enabled container;

updating, based on receiving the indication of the item being placed in the communication enabled container, the database of store inventory;

receiving from the communication enabled container an indication of the item being removed from the communication enabled container; and

updating, based on receiving the indication of the item being removed from the communication enabled container, the database of store inventory.

16. The computer program product of claim 15, wherein updating the store inventory further comprises:

identifying from the database of store inventory that stock of a particular item has fallen below a predetermined threshold; and

ordering automatically, based on identifying from the database of store inventory that the stock of the particular item has fallen below the predetermined threshold, more of the particular item.

17. A computer-implemented method for an identification sensor system providing real-time inventory communication and management, the method comprising:

generating a communication enabled container, wherein the communication enabled container comprises a receptacle which comprises one or more identification sensors for collecting information related to items placed in the receptacle;

linking, upon triggering of identification of the communication enabled container being within a merchant location, the communication enabled container with a user device associated with a user;

scanning, upon an item being positioned within the receptacle of the communication enabled container, one or more identifiers associated with the item via the one or more identification sensors;

extracting item information associated with the item from an inventory system based on an identification of the one or more identifiers matching item identifiers stored in a database on the inventory system, wherein the item information comprises a resource amount for the item, offers associated with the item, and manufacturer information associated with the item;

triggering communication with a competitive cloud based proposal network to identify and acquire term change proposals from one or more resource managers separate from the merchant for the item positioned within the communication enabled container, wherein the term change proposals comprise changes to pre-established payment terms including a change in interest rate, change in amount of cash back earned by the user, and change in amount of reward points earned by the user;

displaying, in real-time via a display on the user device, a total resource amount required by the merchant for all of the items in the communication enabled container;

identifying the communication enabled container passing through a merchant gate device;

triggering a communicable linkage for the user to;

(a) select the communication enabled container that the user selects to include in a transaction and (b) provide a preferred resource to satisfy the total resource amount required by the merchant or the one or more resource managers;

perform a subsequent scan and identify, by using the one or more identifiers associated with the items, that a subset of one or more items is removed from the communication enabled container;

transmit geolocation information for the subset of one or more items removed from the communication enabled container to the merchant; and

requiring, based on triggering the communicable linkage for determining the preferred resource, a transmission of the preferred resource to the merchant to provide the total resource amount required based on the item positioned within the communication enabled container and the acquire term change proposals.

18. The computer-implemented method of claim 17, wherein triggering the communicable linkage for determining a preferred resource to provide the total resource amount required by the merchant further comprises:

identifying user resources and one or more resource managers associated with the identified user resources;

generating a user-specific competitive proposal profile, wherein the user-specific competitive proposal profile comprises user resources, user preferences, historic resource trends, and resource manager terms for resource use;

triggering a communicable linkage with the one or more resource managers based on receiving a determined total resource amount required by a merchant;

opening the communicable linkage with the one or more resource managers for resource manager term change proposals for providing the total resource amount to the merchant;

receiving term change proposals from the one or more resource managers through the communicable linkage;

generating a ranked list of resources from the one or more resource managers for providing the total resource amount to the merchant, wherein the ranked list of resources further comprise an order of preferred term changes relative to the user preferences;

transmitting the ranked list of resources from the one or more resource managers to the user device; and

allowing user selection of one of the ranked list of resources for providing the total resource amount to the merchant.

19. The computer-implemented method of claim 17, wherein extracting item information associated with the item from the inventory system further comprises:

generating a database of store inventory, wherein the database contains information related to items maintained by the merchant at a merchant location such as a number of items currently in stock, location of the items, prices of the items, manufacturer information associated with the items, and/or offers associated with the items;

generating a communicable linkage with the communication enabled container;

receiving from the communication enabled container an indication of the item being placed in the communication enabled container;

updating, based on receiving the indication of the item being placed in the communication enabled container, the database of store inventory;

receiving from the communication enabled container an indication of the item being removed from the communication enabled container; and

updating, based on receiving the indication of the item being removed from the communication enabled container, the database of store inventory.

20. The computer-implemented method of claim 19, wherein updating the store inventory further comprises:

identifying from the database of store inventory that stock of a particular item has fallen below a predetermined threshold; and

ordering automatically, based on identifying from the database of store inventory that the stock of the particular item has fallen below the predetermined threshold, more of the particular item.