Trax Technology Solutions has filed a patent for a system that processes images from retail stores to automatically detect product shortages. The system analyzes images over time, compares product quantities to desired levels, and provides alerts when shortages are identified, optimizing restocking processes. GlobalData’s report on Trax Technology Solutions gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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According to GlobalData’s company profile on Trax Technology Solutions, Targeted advertising was a key innovation area identified from patents. Trax Technology Solutions's grant share as of January 2024 was 40%. Grant share is based on the ratio of number of grants to total number of patents.
Automatically identifying product shortages in retail stores using image processing
A new patent application (Publication Number: US20230410007A1) describes a system designed to process images captured in a retail store to automatically identify product shortages. The system includes a processor that accesses information about the desired placement of products on store shelves, receives image data from multiple sensors in the store, and analyzes images to detect when the quantity of a certain product falls below a specified threshold. By comparing images captured at different times, the system can determine if a product shortage exists and provide information about it. Additionally, the system can adjust its response based on factors such as scheduled restocking events, product availability in storage areas, employee assignments, and previous notifications of shortages.
Furthermore, the patent application outlines a method and a computer program product for implementing this system. The method involves analyzing images to identify product shortages based on quantity thresholds and providing information about shortages when necessary. The computer program product, embodied in a non-transitory computer-readable medium, includes instructions for the processor to execute the method. The system aims to streamline the detection and management of product shortages in retail stores, potentially improving inventory management and customer satisfaction.
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GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
