DESC:FIELD OF THE INVENTION
[001] The invention relates to a system and a method for analyzing product related data.

BACKGROUND OF THE INVENTION
[002] Consumer Packaged Goods (CPG) companies or Fast-Moving Consumer Goods (FMCG) companies require raw materials for producing consumable products / goods. The raw materials may be agricultural and / or chemical commodities which are typically sourced from external agencies.
[003] The prices of raw materials fluctuate widely due to reasons of tension of supply-demand relationship, weather and climatic conditions, government policies on import and export, and the like. Such fluctuations eventually affect the pricing of the consumer products/goods sold by the CPG/FMCG companies, and thereby profit margins of such products.
[004] Thus, depending on aforementioned factors, the price of manufacturing finished products may vary with respect to date of manufacturing. However, deals between the CPG/FMCG companies and retailers are signed in advance thus fixing the price for future delivery, whereas the price of the raw materials that go in manufacturing the finished products depends upon the date when the products are manufactured for future delivery dates promised in the deal. The deal signing dates and the manufacturing dates thus may be different. As a result, profit margins of the finished product may be affected. Additionally, CPG/FMCG companies are under constant pressure from retailers for offering additional discounts for various promotions run by retailers. This causes additional pressure on profit margins.
[005] Thus, the CPG/FMCG company fails to make an informed decision about increasing / decreasing prices and / or offering additional discounts for their finished products based on raw material pricing. In view of the aforesaid, there is a need in the art for a solution which addresses at-least the aforementioned problems.

SUMMARY OF THE INVENTION
[006] In one aspect of the present invention, a system for analyzing product related data is disclosed. The system includes a user device configured to receive a product selection and a timeline selection from a user. The system includes a host system in communication with the user device and configured to receive the product selection and the timeline selection from the user device. The host system is configured to fetch product related information based on the product selection. The product related information includes a list of raw materials and quantities of the raw materials required for manufacturing the product. The host system is configured to receive from one or more third-party servers cost information of the raw materials based on the product related information and the timeline selection. The cost information includes a spot price or a future price of the raw materials. The host system is configured to generate a product price based on the spot price or the future price of the raw materials, thereby providing the product price of the product based on varied timelines and varied quantities of the raw materials.
[007] In one embodiment, the host system is configured to transmit the generated total price to be displayed on the user device.
[008] In one embodiment, the host system includes a database that is configured to store the product related information of the product.
[009] In one embodiment, the product selection includes a selection of at least one of a product name, a product category, and a sub-product name.
[010] In one embodiment, the timeline selection includes a time frame ranging from a current date to a future date.
[011] In one embodiment, the host system is communicatively coupled to the user device and the one or more third-party servers via a network.
[012] In one embodiment, the one or more third-party servers are commodity exchange servers.
[013] In one embodiment, the host system enables to determine profit margins based on the spot prices or the futures prices of the raw materials.
[014] In another aspect of the present invention, a method for analyzing product related data is disclosed. The method includes receiving a product selection and a timeline selection from a user by a user device. The method includes receiving the product selection and the timeline selection from the user device by a host system in communication with the user device. The method includes fetching product related information based on the product selection by the host system. The product related information includes a list of raw materials and quantities of the raw materials required for manufacturing the product. The method includes receiving cost information of the raw materials based on the product related information and timeline selection from one or more third-party servers by the host system. The cost information includes a spot price or a future price of the raw materials. The method includes generating a product price based on the spot price or the future price of the raw materials by the host system, thereby providing the product price of the product based on varied timelines and varied quantities of the raw materials.

BRIEF DESCRIPTION OF THE DRAWINGS
[015] Reference will be made to embodiments of the invention, examples of which may be illustrated in accompanying figures. These figures are intended to be illustrative, not limiting. Although the invention is generally described in context of these embodiments, it should be understood that it is not intended to limit the scope of the invention to these particular embodiments.
Figure 1 shows a block diagram of a system for analyzing product related data in accordance with an embodiment of the invention.
Figure 2 shows a flowchart of a method for analyzing product related data in accordance with an embodiment of the invention.

DETAILED DESCRIPTION OF THE INVENTION
[016] The present invention is directed towards analysing product related data whereby the invention depending upon raw material constitution of the product provides precise commercial analysis of the product with respect to time.
[017] Figure 1 shows a block diagram of a system 100 for analyzing product related data in accordance with an embodiment of the invention. The system 100 comprises a host system 110, one or more third-party servers 140, and at-least one user-device 150 operable by a user in communication with each other through a network 130.
[018] The host system 110 comprises at least one of one or more processors, a memory, and a communication module. In an embodiment, the host system 110 comprises a database 120 that is configured to store product related information of products. In an embodiment, the product related information comprises a list of raw materials that are required for the manufacturing of each product, and the quantity of the raw materials that are required for manufacturing one unit of a particular product and multiples thereof. Accordingly, for different products, the database 120 comprises relevant product related information. The host system 110 is pre-fed with such information, and the information is updated from time to time.
[019] Further, as shown, the user device 150 is in communication with the host system 110. The user device 150 comprises of one or more processors, a memory, a communication module, a screen, etc. The user-device 150 may be electronic devices or portable devices such as smart phones, laptop, tablet, PC, etc. The communication module of the host system 110 allows the users to connect with the host system 110. In this regard, the host system 110 may be accessed through an application installed on the user device 150 using the network 130. The user device 150 through the application is configured to receive from the user a product selection and a timeline selection. The user device 150 is further configured to transmit the product selection and the timeline selection to the host system 110. In one embodiment, the product selection comprises a selection of at least a product category, a product name, a sub-product name. Upon receiving the product selection, the processor of the host system 110 is configured to fetch product related information from the database 120. The product related information includes a list of raw materials that are required for the manufacturing of each product, and the quantity of the raw materials that are required for the product. The timeline selection includes details regarding a time frame as to when the raw material would be required. The timeline selection enables the host system 110 to determine whether the requirement for raw materials is in the current dates or at a future date.
[020] As shown, the user device and/or host system 110 are in communication with one or more third-party servers 140. The one or more third-party servers 140 are commodity exchange servers which comprises raw materials cost information for spot trades and future trades. It is well known that a spot price is in relation to a spot trade whereby the trade will take place immediately or within a few days, and the current price of the raw materials determines the spot price for the spot trade. A futures price is in relation to a future trade whereby the transaction will take place at a future date, and the future prices of the raw materials determines the future price for the future trade.
[021] The host system 110 is configured to receive the cost information of the raw material from the one or more third-party servers 140 based on the product related information and the timeline selection. In an embodiment, the host system 110 is configured to fetch spot prices of the plurality of raw materials from the one or more third-party servers 140. In another embodiment, the host system 110 is configured to fetch future prices of the plurality of raw materials from the one or more third-party servers 140.
[022] The host system 110 is further configured to generate a product price based on the spot price or the future price of the raw materials, thereby providing product price of the product at varying prices of the plurality of raw materials based on varied timelines, varied quantities of raw materials’ composition of the products, and varied order quantities of the products. Further, profit margins from the product price can be derived by the host system 110 based on the spot price or the future price of raw materials, enabling profit margin determination on varied price points. Further, the host system 110 is configured to transmit the product price/profit margins to the user device 150 to be displayed on the application of the user device 150. Therefore, the user is enabled to make better pricing decisions for the products, deliveries for which are scheduled in the future. Additionally, the user is enabled to create promotional discount structure or to negotiate the pricing, based on the product price/profit margins displayed on the user device 150, where the prices of the to be delivered products are decided in advance by execution of deals with the customers.
[023] Further, the user is enabled to alter the finished products’ selections of the timelines, the quantity of raw materials’ composition of the products, and the order quantity of the products. Based on the alterations, the host system 110 is configured to provide various scenarios that contemplate product prices including profit margins for the corresponding finished products’ selections in order to make better pricing decisions.
[024] The host system 110 is configured to generate and transmit, to the user device 150, customer reports that entail comprehensive product analysis for the sale of the products while taking into factor the timelines, the quantity of raw materials of the products, and the order quantity of the products. The user device 150 is configured to display customer reports on the application of the user device 150.
[025] The host system 110 is configured to continuously track fluctuations in the raw materials’ futures contracts-based prices. Due to constant variation of the prices of futures contracts for the plurality of raw materials, the prices of the products also vary during a manufacturing period.
[026] Figure 2 shows a method 200 of analyzing product related data in accordance with an embodiment of the invention. In order to perform such a method 200, a system such as the system 100 shown in Figure 1 may be deployed. The method 200 begins at step 2A where the user device 150, through the application, receives a product selection and a timeline selection from the user. The user device 150 transmits the product selection and the timeline selection to the host system 110. At step 2B, the host system 110 receives the product selection and the timeline selection from the user device 150. At step 2C, the host system 110 fetches product related information based on the product selection from the database 120. The product related information includes the list of raw materials and the quantities of the raw materials required for manufacturing the product. At step 2D, the host system 110 receives the cost information of the raw materials based on the timeline selection from the one or more third-party servers 140. The cost information includes a spot price or a future price of the raw materials.
[027] At step 2E, the host system generates a product price based on the spot price or the future price of the raw materials by the host system 110. The host system is further configured to transmit the generated total price to be displayed on the user device 150, thereby providing the product price of the product based on varied timelines, varied quantities of the raw materials, and varying prices of the raw materials. The profit margins are derived out of the cost information by the host system 110. In one embodiment, the profit margins are derived from spot prices. In another embodiment, the profit margins are derived from futures prices. As a result, the user is enabled to make better pricing decisions for the products’ deliveries that are scheduled in the future.
[028] In one example, the user is a salesperson of a consumer packaging goods (CPG) company, and the user is interested in carrying out analysis of a chocolate. Basis the analysis, the user can execute deals with buyers like hypermarkets, supermarkets, wholesale stores, retail stores, and the like for supplying the chocolate at a mutually decided time. Accordingly, with the system of the present invention, the user enters the product selection – chocolate, and timeline information – date of delivery. Upon entering the details, the system fetches the raw materials for the chocolate - wheat, cocoa, sugar, and milk. Thereafter, the host system fetches the prices of the raw materials from the one or more third-party servers / commodity exchange servers. Such prices are fetched for the date as specified by the user i.e., the system fetches prices for a spot trade or a future trade depending upon timeline selection. The host system basis the fetched pricing computes product price at varying prices of the raw materials based on varied timelines and varied quantities of raw materials’ composition of the chocolate. Further, profit margins for the product price are derived by the host system. The host system transmits the product price / profit margins to the user device. Therefore, the user is enabled to make better pricing decisions for the chocolate deliveries that are scheduled in the future. Additionally, the user is enabled to create promotional discount structure or to negotiate the pricing where the prices of the to be delivered chocolate are decided in advance by the execution of the deal with the customers.
[029] Advantageously, the present invention takes into consideration fluctuations of prices of raw materials. As a result, a user is enabled to assess product price including profit margins of products that are sold to customers. The company is thus enabled to make an informed decision about increasing / decreasing prices of the finished products, reducing / increasing the package size, and tweaking the quantity of raw materials of the finished products to ensure better profit margins.
[030] While the present invention has been described with respect to certain embodiments, it will be apparent to those skilled in the art that various changes and modification may be made without departing from the scope of the invention as defined in the following claims.
,CLAIMS:WE CLAIM:
1. A system (100) for analyzing product related data, the system (100) comprising:
a user device (150) configured to receive a product selection and a timeline selection from a user; and
a host system (110) in communication with the user device (150),:
receive the product selection and the timeline selection from the user device (150);
fetch product related information based on the product selection, the product related information comprises a list of raw materials and quantities of the raw materials required for manufacturing the product;
receive from one or more third-party servers (140) cost information of the raw materials based on the product related information and the timeline selection, the cost information includes a spot price or a future price of the raw materials; and
generate a product price based on the spot price or the future price of the raw materials, thereby providing the product price of the product based on varied timelines and varied quantities of the raw materials.
2. The system (100) as claimed in claim 1, wherein the host system (110) is configured to transmit the generated product price to be displayed on the user device (150).

3. The system (100) as claimed in claim 1, wherein the host system (110) comprises a database (120) that is configured to store the product related information of the product.

4. The system (100) as claimed in claim 3, wherein the product selection comprises a selection of at least one of a product name, a product category, and a sub-product name.

5. The system (100) as claimed in claim 4, wherein the timeline selection comprises a time frame ranging from a current date to a future date.

6. The system (100) as claimed in claim 5, wherein the host system (110) is communicatively coupled to the user device (150) and the one or more third-party servers (140) via a network (130).

7. The system (100) as claimed in claim 6, wherein the one or more third-party servers (140) are commodity exchange servers.

8. The system (100) as claimed in claim 7, wherein the host system (110) enables determining profit margins based on the spot prices or the futures prices of the raw materials.

9. A method (200) for analyzing product related data, the method (200) comprising:
receiving, by a user device (150), a product selection and a timeline selection from a user;
receiving, by a host system (110) in communication with the user device (150), the product selection and the timeline selection from the user device (150);
fetching, by the host system (110), product related information based on the product selection, the product related information comprises a list of raw materials and quantities of the raw materials required for manufacturing the product;
receiving, from one or more third-party servers (140) by the host system (110), cost information of the raw materials based on the product related information and timeline selection, the cost information includes a spot price or a future price of the raw materials; and
generating, by the host system (110), a product price based on the spot price or the future price of the raw materials, thereby providing the product price of the product based on varied timelines and varied quantities of the raw materials.

10. The method (200) as claimed in claim 9 comprising transmitting, by the host system (110), the generated total price to be displayed on the user device (150).

11. The method (200) as claimed in claim 9 comprising storing, by a database (120) of the host system (110), the product related information of the product.

12. The method (200) as claimed in claim 11 enables determining, by the host system (110), profit margins based on the spot prices or the futures prices of the raw materials.

Dated this 3rd day of March 2023.
Capgemini Technology Services India Limited
By their Agent & Attorney

(Janaksinh Jhala)
of Khaitan & Co
Reg No IN/PA-2193