US Patent No: 7,894,937
Number of patents in Portfolio can not be more than 2000
Method and apparatus for dynamically managing vending machine inventory prices
Stats
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Feb 22, 2011
Issued date -
Oct 29, 2007
filing date -
11/926,948
serial no -
In Force
status
Importance
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Abstract
The present invention is a method and apparatus for automatically managing a price of a product in a vending machine. The method and apparatus is disclosed for implementing dynamic price adjustments at various times including after stocking, after a sale of a product and at periodic intervals. The method generally includes the steps of updating inventory data, including a quantity of a product, accessing price management data associated with the product, and determining the price of the product. According to the method and apparatus of the present invention, the determined price of the product is based on the price management data and the inventory data. The determined price is then stored in a memory of the apparatus and displayed for customers. The apparatus may be a vending machine, a processing module within the vending machine, or an external module remotely transmitting the dynamically adjusted price to a vending machine.
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First Claim
Related Publications
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International Classification(s)
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Cited Art
| Patent Info | (Count) | # Cites | Year |
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| 4,245,730 Display panel for a vending machine | 38 | 1979 | |
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| 6,119,099 Method and system for processing supplementary product sales at a point-of-sale terminal | 174 | 1997 | |
| 6,324,520 Method and apparatus for collecting and applying vending machine demand information | 90 | 1998 | |
| 2008/0051,934 METHOD AND APPARATUS FOR DYNAMICALLY MANAGING VENDING MACHINE INVENTORY PRICES | 9 | 2007 | |
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| 6,012,834 Apparatus and method for automatic self-adapting control of sales and adjustment of prices to market movements in an automatic vending machine | 50 | 1997 | |
| 6,748,296 Automated vending | 26 | 2002 | |
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| 4,593,361 Vending machine control circuit | 33 | 1984 | |
| 4,766,548 Telelink monitoring and reporting system | 255 | 1987 | |
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| 5,768,142 Method and apparatus for storing and selectively retrieving product data based on embedded expert suitability ratings | 157 | 1995 | |
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| 5,873,069 System and method for automatic updating and display of retail prices | 295 | 1995 | |
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| 5,511,646 Multiple price and size setting method for vending machines | 47 | 1993 | |
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| 5,452,344 Communication over power lines | 144 | 1993 | |
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| 5,353,219 Suggestive selling in a customer self-ordering system | 182 | 1993 | |
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| 4,235,700 Two-stage coking for the production of low metals coke | 27 | 1979 | |
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| 5,997,928 Method and apparatus for verifying contents of vending systems | 63 | 1998 | |
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| 4,237,537 Price display setting arrangements | 44 | 1979 | |
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| 5,036,472 Computer controlled machine for vending personalized products or the like | 129 | 1988 | |
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| 5,613,620 Co-dispensing snack food products and beverages from a vending machine | 74 | 1995 | |
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| 5,608,643 System for managing multiple dispensing units and method of operation | 229 | 1994 | |
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| 4,282,575 Control system for vending machine | 38 | 1979 | |
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| 6,056,151 Gumball machine | 9 | 1998 | |
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| 7,272,012 Removable storage modules | 28 | 2004 | |
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| 5,339,250 Interactive network for remotely controlled hotel vending systems | 79 | 1992 | |
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| 5,638,985 Vending apparatus and method | 24 | 1995 | |
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| 5,544,288 Object resizing and repositioning for a new font in a graphical user interface | 64 | 1994 | |
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| 5,521,364 Product-selling-data processing apparatus having function for administering sales of article sold by the bundle and its method | 67 | 1994 | |
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| 4,882,688 Computer-controlled method and apparatus for making bingo cards | 16 | 1987 | |
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| 7,065,218 Method of generating a left modified and a right modified audio signal for a stereo system | 22 | 2002 | |
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| 5,685,435 Method and apparatus for automatic bulk vending | 45 | 1995 | |
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| 5,257,179 Audit and pricing system for coin-operated games | 120 | 1991 | |
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| 5,242,363 Water cooled rolls for cooling steel sheets | 53 | 1992 | |
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| 5,802,015 Intelligent label | 71 | 1997 | |
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| 5,844,808 Apparatus and methods for monitoring and communicating with a plurality of networked remote vending machines | 166 | 1996 | |
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| 6,085,164 Apparatus and method of allocating flight inventory resources based on the current market value | 96 | 1997 | |
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| 7,078,274 Method of forming active matrix type display including a metal layer having a light shield function | 28 | 2003 | |
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| 6,078,893 Method for stabilized tuning of demand models | 87 | 1998 | |
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| 6,181,981 Apparatus and method for improved vending machine inventory maintenance | 187 | 1996 | |
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| 6,035,946 Entry tool for opening secured doors | 32 | 1998 | |
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| 2002/0111,157 Wireless networked cash management system | 7 | 2001 | |
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| 5,091,713 Inventory, cash, security, and maintenance control apparatus and method for a plurality of remote vending machines | 332 | 1990 | |
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| 6,056,194 System and method for networking and controlling vending machines | 153 | 1997 | |
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| 5,615,109 Method of and system for generating feasible, profit maximizing requisition sets | 346 | 1995 | |
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| 5,724,518 Method of and system for correlating charitable contributions | 18 | 1996 | |
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| 5,450,938 Card or cash actuated vending machine assembly | 224 | 1994 | |
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| 5,701,252 Distribution network system for products and information | 81 | 1996 | |
| 5,878,401 Sales and inventory method and apparatus | 123 | 1996 | |
| 5,930,771 Inventory control and remote monitoring apparatus and method for coin-operable vending machines | 178 | 1996 | |
| 5,933,814 Automatic goods ordering process and device for sale facilities | 10 | 1997 | |
| 2008/0046,113 METHOD AND APPARATUS FOR DYNAMICALLY MANAGING VENDING MACHINE INVENTORY PRICES | 1 | 2007 | |
Patent Citation Ranking
Maintenance Fees
| Fee | Large entity fee | small entity fee | micro entity fee | due date |
|---|---|---|---|---|
| 3.5 Year Payment | $1600.00 | $800.00 | $400.00 | Aug 22, 2014 |
| 7.5 Year Payment | $3600.00 | $1800.00 | $900.00 | Aug 22, 2018 |
| 11.5 Year Payment | $7400.00 | $3700.00 | $1850.00 | Aug 22, 2022 |
| Fee | Large entity fee | small entity fee | micro entity fee |
|---|---|---|---|
| Surcharge - 3.5 year - Late payment within 6 months | $160.00 | $80.00 | $40.00 |
| Surcharge - 7.5 year - Late payment within 6 months | $160.00 | $80.00 | $40.00 |
| Surcharge - 11.5 year - Late payment within 6 months | $160.00 | $80.00 | $40.00 |
| Surcharge after expiration - Late payment is unavoidable | $700.00 | $350.00 | $175.00 |
| Surcharge after expiration - Late payment is unintentional | $1,640.00 | $820.00 | $410.00 |