VeChain’s commitment to revolutionizing inventory control and tracking for companies has been further solidified with the approval of a new patent for a mobile automated inventory container bin and system. This innovative invention aims to address the challenges posed by the manual process of counting items and recording them in a ledger, which often leads to inaccuracies.
The patent, scored by VeChain on July 2, 2024, showcases the company’s dedication to innovation and its utilization of the VeChainThor blockchain. This mobile automated inventory container bin and system patent marks yet another milestone for VeChain, demonstrating the company’s ongoing efforts to enhance inventory control and tracking within the supply chain management industry.
VeChain identified the existing gap in the manual process of counting items and inputting the information onto a ledger. This labor-intensive method often results in inaccuracies, as it fails to indicate items that have been used or removed. Although some systems have attempted to use barcodes scanned by handheld scanners, they still struggle to locate unscanned items that have been moved to different locations.
To address these challenges, VeChain’s patent introduces a method and system that dynamically monitors the location of items placed in movable containers or bins. Additionally, it provides an automated system to track items from their storage location to the container or bin.
Further examination of the patent reveals that the invention can also track the movement of the container itself throughout the entire life cycle of the product. Moreover, the system is designed to adapt to the inventory count system used in travel-related events, such as airplanes and buses.
VeChain has been at the forefront of developing various use cases in different industries, including supply chain management, counterfeit prevention, agriculture, and the automotive sector. The company’s potential extends beyond these current use cases, with predictions that it will have a significant impact on the healthcare industry, logistics, and smart cities.
VeChain’s commitment to environmental efficiency is evident in its recent approval of the Carbon Trading Patent application by the U.S. federal agency Patent and Trademark Office (USPTO). This application focuses on registering methods, devices, blockchain nodes, and systems for carbon recording and trading. Additionally, VeChainThor achieved a remarkable milestone by recording a low carbon footprint of 4.46 t CO2e/year in 2022.
Despite VeChain’s efforts in sustainability and supply chain advancement, its native token, VET, has faced challenges in breaking out from its extensive bearish formation. The token has experienced a decline of 12.6% in the last seven days, currently trading at $0.0239.
In conclusion, VeChain’s new patent for a mobile automated inventory container bin and system highlights the company’s dedication to revolutionizing inventory control and tracking in the supply chain management industry. With various real-world applications and a commitment to environmental efficiency, VeChain continues to make significant strides in the advancement of blockchain technology.