Invention Grant
- Patent Title: Systems and methods of utilizing multiple forecast models in forecasting customer demands for products at retail facilities
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Application No.: US15367530Application Date: 2016-12-02
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Publication No.: US10740773B2Publication Date: 2020-08-11
- Inventor: Ming Li , Rahul Tripathi , Anindya S. Dey , Mainak Mitra , Manish K. Barnwal , Mariana Pop , Nikesh K. Srivasatava , Stephen Steel , Yashas Bharadwaj , Aaron Ryan , Paul Schaefer , Lakshmi Bhaswanth Ramireddy
- Applicant: Walmart Apollo, LLC
- Applicant Address: US AR Bentonville
- Assignee: Walmart Apollo, LLC
- Current Assignee: Walmart Apollo, LLC
- Current Assignee Address: US AR Bentonville
- Agency: Fitch, Even, Tabin & Flannery LLP
- Main IPC: G06Q30/02
- IPC: G06Q30/02 ; G06Q10/08

Abstract:
In some embodiments, apparatuses and methods are provided herein useful to forecasting product demand. In some embodiments, a system comprise a forecasting control circuit to: apply each of a plurality of different models to forecast demand of a first product over a first historic period generating historic forecasted demands of the first product, wherein at least a first model uses selected one or more variables that are predicted to have an uncharacteristic effect on predicted demand; select one of the models and apply the model in generating a forecasted future demand, wherein the selection of the model is based on a difference between each of the generated historic forecasted demands and actual sales; and identify actions to modify inventory of the first product at the first shopping facility based on the forecasted future demand.
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