INVENTORY MANAGEMENT

Methods and systems for managing inventory items within a supply chain are disclosed. One method includes receiving, at a software tool, inputs related to a plurality of inventory items, the inputs including a cost of holding each of the plurality of inventory items at a location type. The method in...

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Main Authors Cox, Joseph, Jelvis, Tikhon, Chen, Shaokuan, Eul, Jeffrey, Malecha, Gregory, Gruzman, Aron, Tallichetty, Chandrashekar, Neerkaje, Abhijith, Rao, Ashwin
Format Patent
LanguageEnglish
Published 14.11.2019
Subjects
CALCULATING
COMPUTING
COUNTING
DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES
PHYSICS
SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR
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Summary:Methods and systems for managing inventory items within a supply chain are disclosed. One method includes receiving, at a software tool, inputs related to a plurality of inventory items, the inputs including a cost of holding each of the plurality of inventory items at a location type. The method includes determining, individually for each inventory item of a plurality of inventory items, an optimal inventory balance across a plurality of locations, wherein the optimal inventory balance is a predetermined statistical availability level set based on a desired customer availability of the inventory item. The method further includes automatically generating one or more inventory adjustment requests to achieve the optimal inventory balance across each of the plurality of locations for each of the plurality of inventory items.
Bibliography:Application Number: US201815975604