METHOD AND SYSTEM FOR MANAGING PRODUCTS AT REMOTELY LOCATED EQUIPMENT

1 . A method for product management at remotely located equipment, the method comprising:

receiving, via a network, data associated with the remotely located equipment, wherein the received data comprises:

an occurrence of one or more vend events for the product at the remotely located equipment,

one or more product inventory levels for the product at multiple time intervals at the remotely located equipment, and

an equipment operating status at multiple time intervals at the remotely located equipment,

determining, by a processor, a demand estimate for the product by evaluating product vends for only time periods when inventory of the product was available at the remotely located equipment sufficient to at least meet demand for the product and when the remotely located equipment was operating in a manner allowing product vending; and

revising, by the processor, an associated dispatch schedule in response to the demand estimate.

2 . The method of claim 1 , further comprising:

recording, by the processor, the occurrence of the one or more vend events for the product comprises recording, by the processor, an occurrence of one or more events communicated via a multi-drop bus (MDB).

3 . The method of claim 2 , further comprising:

recording, by the processor, the occurrence of the one or more vend events for the product comprises recording, by the processor, an occurrence of one or more events associated with at least one of a cashless reader, a bill validator, or a coin mechanism.

4 . The method of claim 1 , further comprising:

determining, by the processor, actual vends of the product at the remotely located equipment for a first time period based on at least the one or more recorded occurrences of the one or more vend events for the product;

comparing, by the processor, the actual vends of the product for the first time period with a projected vends of the product for the first time period using the estimated demand;

performing, by the processor, a corrective action at the remotely located equipment to improve actual vends of the product;

determining, by the processor, actual vends of the product for a second time period based on at least one or more recorded occurrences of one or more vend events for the product;

comparing, by the processor, the actual vends for the second time period with projected vends of the product for the second time period using the estimated demand; and

performing, by the processor, additional corrective action at the remotely located equipment to improve actual vends of the product.

5 . The method of claim 1 , further comprising:

censoring, by the processor, one or more time periods based on the demand estimate when the remotely located equipment is not operating in the manner allowing product vending.

6 . The method of claim 1 , further comprising:

recording, by the processor, one or more inventory levels for a stock keeping unit associated with the product at the remotely located equipment.

7 . The method of claim 1 , further comprising:

predicting, by the processor, future vends, future inventory, and potential lost vends of the product based on the determined demand estimate.

8 . The method of claim 1 , further comprising:

recording, by the processor, one or more inventory levels for different types of the product at the remotely located equipment.

9 . The method of claim 1 , further comprising:

recording, by the processor, each time an equipment problem occurs at the remotely located equipment; and

revising, by the processor, the associated dispatch schedule in response to recording each equipment problem occurrence.

10 . The method of claim 1 , further comprising:

comparing, by the processor, actual product vends at the remotely located equipment with predicted product vends based on the demand estimate; and

identifying, by the processor, at least one of one or more mechanical errors or one or more equipment problems at the remotely located equipment which require corrective action using results of the comparison of the actual product vends with the predicted product vends.

11 . A system for product management at remotely located equipment, the system comprising:

a memory configured to store data associated with the remotely located equipment; and

a processor configured to:

receive, via an external network, of data from the remotely located equipment, wherein the data comprises:

an occurrence of one or more vend events for the product at the remotely located equipment,

one or more product inventory levels for the product at multiple time intervals at the remotely located equipment, and

an equipment operating status at multiple time intervals at the remotely located equipment;

determine a demand estimate for the product at the remotely located equipment by evaluating product vends from the data block for only time periods when inventory of the product was available at the remotely located equipment sufficient to meet demand for the product and when the remotely located equipment was operating in a manner allowing product vending; and

revise an associated dispatch schedule in response to the demand estimate.

12 . The system of claim 11 , wherein the processor is further configured to record the occurrence of the one or more vend events for the product comprises recording, by the processor, an occurrence of one or more events communicated via a multi-drop bus (MDB).

13 . The system of claim 12 , wherein the processor is further configured to record the occurrence of the one or more vend events for the product comprises recording, by the processor, an occurrence of one or more events associated with at least one of a cashless reader, a bill validator, or a coin mechanism.

14 . The system of claim 11 , wherein the processor is further configured to:

determine an actual vends of the product at the remotely located equipment for a first time period based on at least the one or more recorded occurrences of the one or more vend events for the product;

compare the actual vends of the product for the first time period with a projected vends of the product for the first time period using the estimated demand;

perform a corrective action at the remotely located equipment to improve actual vends of the product;

determine actual vends of the product for a second time period based on at least one or more recorded occurrences of one or more vend events for the product;

compare the actual vends for the second time period with projected vends of the product for the second time period using the estimated demand; and

performing additional corrective action at the remotely located equipment to improve actual vends of the product.

15 . The system of claim 11 , wherein the processor is further configured to censor one or more time periods based on the demand estimate when the remotely located equipment is not operating in the manner allowing product vending.

16 . The system of claim 11 , wherein the processor is further configured to record one or more inventory levels for a stock keeping unit associated with the product at the remotely located equipment.

17 . The system of claim 11 , wherein the processor is further configured to predict future vends, future inventory, and potential lost vends of the product based on the determined demand estimate.

18 . The system of claim 11 , wherein the processor is further configured to record one or more inventory levels for different types of the product at the remotely located equipment.

19 . The system of claim 11 , wherein the processor is further configured to:

record each time an equipment problem occurs at the remotely located equipment; and

revise the associated dispatch schedule in response to recording each equipment problem occurrence.

20 . The system of claim 11 , wherein the processor is further configured to:

compare actual product vends at the remotely located equipment with predicted product vends based on the demand estimate; and

identify at least one of one or more mechanical errors or one or more equipment problems at the remotely located equipment which require corrective action using results of the comparison of the actual product vends with the predicted product vends.