Products and processes for managing the prices of vending machine inventory
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United States of America Patent
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Feb 22, 2011
Grant Date -
Mar 17, 2005
app pub date -
Oct 15, 2004
filing date -
Oct 9, 1997
priority date (Note) -
In Force
status (Latency Note)
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Abstract
According to one embodiment of the disclosed invention, an apparatus determines a current price of a product for sale by the vending machine. It then determines, for the product, a price increment, a predetermined price, and a demand threshold, that are defined by data stored in at least one data table. A rate of units of the product that are sold are determined. The rate is compared with the demand threshold.Based on the comparison of the rate with the demand data, it is determined whether the new price should be greater than or less than the current price. The new price is set to the predetermined price if the new price should be greater than the current price. If the new price should be less than the current price, a price increment amount is subtracted from the current price to yield the new price. The determined new price is displayed.
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