Method for managing inventory within an integrated supply chain

• US 20020143669A1
• Filed: 05/29/2001
• Published: 10/03/2002
• Est. Priority Date: 01/22/2001
• Status: Abandoned Application

• Current Assignee: WW Grainger Incorporated
• Original Assignee: WW Grainger Incorporated
• Inventors: Scheer, Robert H.
• Application Number:
  US09/867,200
• Publication Number:
  US 20020143669A1
• Time in Patent Office: Days
• US Class Current: 705/28
• CPC Class Codes: G06Q 10/08 Logistics, e.g. warehousing, loading or distribution; Inventory or stock management
• CPC Class Codes: G06Q 10/087 Inventory or stock management, e.g. order filling, procurement or balancing against orders
• CPC Class Codes: G06Q 20/203 Inventory monitoring

Abstract

A method for managing inventory within a supply chain. The method is performed by providing forecasts of demand for items distributed within the supply chain, using the forecasts to establish base stocking levels and reorder points within the supply chain, and using the established base stocking levels and reorder points to position items within the supply chain so as to maximize efficiency and profitability when responding to an order for an item.

Claims

1. A method for managing inventory within a supply chain, comprising:

using intelligent agents to provide forecasts of demand for items distributed within the supply chain;

using the forecasts to establish base stocking levels and reorder points within the supply chain; and

using the established base stocking levels and reorder points to position items within the supply chain so as to maximize efficiency and profitability when responding to an order for an item.

2. The method as recited in claim 1, further comprising the step of compiling historical demand data for use in forecasting the demand for items.

3. A computer readable media having instructions for managing inventory within a supply chain, the instructions performing steps comprising:

providing forecasts of demand for items distributed within the supply chain;

using the forecasts to establish base stocking levels and reorder points within the supply chain; and

using the established base stocking levels and reorder points to determine positioning of items within the supply chain so as to maximize efficiency and profitability when responding to an order for an item.