System and method for forecasting material requirements and managing the accessability of the materials

• US 20030074284A1
• Filed: 10/16/2001
• Published: 04/17/2003
• Est. Priority Date: 10/16/2001
• Status: Abandoned Application

• Current Assignee: Sumitomo Corporation of America (Sumitomo Corporation)
• Original Assignee: Sumitomo Corporation of America (Sumitomo Corporation)
• Inventors: Bowden, Rickie Boyd
• Application Number:
  US09/977,286
• Publication Number:
  US 20030074284A1
• Time in Patent Office: Days
• US Class Current: 705/28
• CPC Class Codes: G06Q 10/087 Inventory or stock management, e.g. order filling, procurement or balancing against orders
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

An inventory management system is provided, comprising customer inquiry/quotation means for obtaining inventory and non-inventory product information, forecasting means for identifying planned sales, sales order means for providing general information about the sale, the products, charges and services required to produce end products, purchase order means for receiving and providing product and specification information to the supplier and accepting and generating an identifier for the purchase, reporting means for presenting information to a user of the system, adjusting means for modifying inventory information and, query means for viewing inventory and transaction information.

Claims

1. An inventory management system comprising:

customer inquiry/quotation means for obtaining inventory and non-inventory product information;

forecasting means for identifying planned sales;

sales order means for providing general information about a planned sale, products, charges and services required to produce end products in the planned sale;

purchase order means for receiving and providing information to a supplier and accepting and generating an identifier for a purchase for the planned sale;

reporting means for presenting information to a user of the system;

adjusting means for modifying inventory information; and

,

query means for viewing inventory and transaction information.

2. The inventory management system of claim 1, wherein the customer inquiry/quotation means further comprises:

quote history means for reviewing previous quotes for a product being quoted and a current inventory of the product; and

,

cost/profit means for reviewing past sales of the product.

3. The inventory management system of claim 1, wherein the purchasing means further comprises:

buying/selling means for identifying historical purchase pricing and sales prices for a product; and

,

receiving means for capturing product delivery information.

4. The inventory management system of claim 1, wherein the reporting means comprises:

sales reporting means, forecast reporting means, inventory reporting means, transaction reporting means, and purchase order reporting means.

5. The inventory management system of claim 1, wherein the adjusting means comprises:

zero adjusting means for removing contracts that are fully sold from inventory; and

,

inventory adjusting means for making adjustments to inventory to reflect adjusted levels.

6. The inventory management system of claim 1, wherein the query means comprises:

inventory query means for viewing current inventory and transactions;

true inventory query means for viewing information regarding location, cost, and transactions for an item; and

,

work order query means for viewing inventory using a work number as key.

7. The inventory management system of claim 1, further comprising:

invoicing means for pulling data from the inventory into a customer return when the customer return is created.

8. The inventory management system of claim 1, further comprising:

customer return means for crediting a customer when product is returned; and

,

vendor return means for taking product out of inventory and returning product to a supplier.

9. The inventory management system of claim 1, further comprising:

transferring means for moving inventory from yard to yard.

10. The inventory management system of claim 1, further comprising:

inspecting means for changing inventory condition.

11. The inventory management system of claim 1, further comprising:

fabricating means for modifying a mother good product into one or more finished goods.

12. The inventory management system of claim 1, further comprising:

periodic interest billing means for evaluating an age of each inventory item against an established limit and charging interest when a holding period exceeds a predetermined age value.

13. The inventory management system of claim 1, further comprising:

transaction history means for identifying sources of inventory cost by type.

14. The inventory management system of claim 1, further comprising:

repost means for allowing products previously removed to be added to inventory by the zero adjustment means.

15. The inventory management system of claim 1, further comprising:

reference means for capturing information.

16. The inventory management system of claim 1, further comprising:

invoice summarizing means for selecting an arbitrary number of detail invoices to be collected and billed as one.

17. The inventory management system of claim 1, further comprising:

application control means for allowing different functionality to be implemented at different sites.

18. The inventory management system of claim 1, further comprising:

application default means for storing user updateable default values and retrieving said values upon startup.

19. The inventory management system of claim 1, further comprising:

a sales and purchase memo means for passing inventory costing information between an inventory system and a mainframe.

20. An inventory management system comprising:

an inventory and sales management means resident on a first hardware and operating system;

an accounting means resident on a second hardware and operating system; and

,

an interfacing means for permitting inventory-costing transactions to be shared and transferred between the inventory and sales management means and the accounting means.

21. The inventory management system of claim 20, wherein the inventory and sales management means comprises:

quoting means;

forecasting means;

sales ordering means;

invoicing means;

returning means;

adjusting means;

querying means;

reporting means.

22. The inventory management system of claim 20, wherein the interfacing means comprises:

an AR interface module;

an AP interface module; and

,

a purchase order receiver interface module.

23. The inventory management system of claim 22, wherein the AR interface module takes candidate transactions from the inventory sales and management means, transforms and validates the candidate transactions into a format/content required by the accounting means and passes the candidate transactions to the accounting system.

24. The inventory management system of claim 23, wherein the AP interface module records transactions that add cost after receipt of inventory, and after selection, transformation and validation of the transactions, passes said transactions into an appropriate accounting system table.

25. The inventory management system of claim 22, wherein the purchase order receiver interface module selects, transforms, validates and posts candidate data into accounting system structures.

26. A method for managing materials, the method comprising the step of:

interfacing an inventory sales and management system and an accounting system resident on different hardware and operating systems.

27. The method of claim 26, wherein the step of interfacing comprises:

taking candidate transactions from the inventory sales and management system, transforming and validating said candidate transactions into a format/content required by the accounting system and passing said candidate transactions to the accounting system.

28. The method of claim 26, wherein the step of interfacing comprises:

taking from the inventory sales and management system transactions which add cost after receipt of inventory; and

,

selecting, transforming, validating, and passing said transactions into an appropriate accounting system table located in the accounting system.

29. The method of claim 26, wherein the step of interfacing comprises selecting, transforming, validating and posting candidate data into accounting system structures located in the accounting system.

30. A method for forecasting future material needs, the method comprising the steps of:

creating a customer demand forecast;

transforming the customer demand forecast into a materials requirements;

making an inventory query; and

,

fulfilling the materials requirements.