Currency management

• US 20040030622A1
• Filed: 08/09/2002
• Published: 02/12/2004
• Est. Priority Date: 08/09/2002
• Status: Active Grant

• Current Assignee: Accenture Global Services Limited (Accenture PLC)
• Original Assignee: Accenture Global Services Limited (Accenture PLC)
• Inventors: Zambrana, Marcelo Gerardi, Antiqueira Elias, Luiz Ricardo Leal da Costa, Ramos, Antonio Carlos Menezes, Minerbo, Claudio, Domingues, Marcelo Ferreira Pinto Zacarias
• Granted Patent: US 7,813,972 B2
• Time in Patent Office: Days
• US Class Current: 705/35
• 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 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes

Abstract

Management of currency inventory within and among network nodes of a financial network (e.g., bank branches, ATMs, and kiosks) may involve receiving information of currency inventory at one or more nodes in the network, generating a forecast for currency demand for the one or more nodes based on the historical currency demand for the one or more nodes, and establishing a currency transportation plan that includes a currency delivery schedule for the one or more nodes, wherein the currency transportation plan is based on the currency inventory, the forecast for currency demand, and one or more costs of handling currency. The costs of handling currency may include costs such as the expected loss from robbery and other currency theft.

Claims

1. A computer-based currency management method comprising:

receiving information of currency inventory at one or more nodes in a financial network;

generating a forecast for currency demand for the one or more nodes based on the historical currency demand for the one or more nodes; and

establishing a currency transportation plan that includes a currency delivery schedule for the one or more network nodes, wherein the currency transportation plan is based on the currency inventory, the forecast for currency demand, and one or more costs of handling currency.

2. The method of claim 1, wherein the costs of handling currency include the expected loss of currency from robbery.

3. The method of claim 1, wherein the currency transportation plan minimizes one or more of the costs of handling currency.

4. The method of claim 1, wherein the forecast for currency demand is generated using Monte Carlo simulation.

5. The method of claim 1, wherein the forecast for currency is generated using standard statistical distributions.

6. The method of claim 5, wherein the forecast for currency demand includes the expected currency demand, and currency demands at standard deviations above or below the expected currency demand.

7. The method of claim 1, further comprising computing a mandatory currency inventory limit for the one or more network nodes, and constraining the currency transportation plan to an outcome or outcomes that satisfy the mandatory currency inventory limit.

8. The method of claim 7, wherein the mandatory currency inventory limit corresponds to a regulatory limit on currency inventory.

9. The method of claim 1, further comprising providing for a manual review of the currency transportation plan, and adjusting the currency transportation plan based on the manual review.

10. The method of claim 9, wherein the manual review is performed by personnel at the one or more of the plurality of nodes.

11. The method of claim 1, further comprising determining a currency delivery amount to a node as part of the transportation plan.

12. A computer-implemented system for managing currency distribution, the system comprising:

a plurality of network nodes each distributing and receiving currency, and having a current currency balance;

a demand planning module programmed and configured to create a currency demand forecast for one or more of the plurality of nodes using historical currency intake and output data for the one or more of the plurality of nodes;

a transportation planning module programmed and configured to create a plan for transporting currency to the one or more of the plurality of nodes using the currency demand forecast and currency handling costs.

13. The system of claim 12, wherein the plurality of nodes includes a first node comprising a bank branch.

14. The system of claim 13, wherein the first node comprises an ATM associated with the bank branch.

15. The system of claim 12, wherein the currency demand forecast includes the expected currency demand for a plurality of periods in each working day.

16. The system of claim 12, wherein the plan for transporting currency includes a delivery schedule that specifies currency deliveries to each of the plurality of nodes for a predetermined period.

17. The system of claim 12, further comprising a mandatory cash limit calculation and analysis module programmed and configured to create a currency inventory limit for the one or more of the plurality of nodes, wherein the currency inventory limit is used by the transportation planning module to create a plan for transporting currency.

18. The system of claim 12, wherein the currency handling costs include the expected loss of currency from robbery.

19. The system of claim 12, wherein the plan for transporting currency minimizes one or more of the currency handling costs.

20. Machine-readable instructions, embodied in a tangible medium or as a propagated signal or both, for managing currency inventory in a financial system, execution of the instruction causing one or more machines to perform operations comprising:

receiving information of currency inventory at one or more nodes in a financial network;

generating a forecast for currency demand for the one or more nodes based on the historical currency demand for the one or more nodes; and

establishing a currency transportation plan that includes a currency delivery schedule for the one or more network nodes, wherein the currency transportation plan is based on the currency inventory, the forecast for currency demand, and one or more costs of handling currency.

21. The instructions of claim 20, wherein the machine readable instructions comprises computer software instructions executable by one or more computer systems.

22. The instructions of claim 20, wherein the costs of handling currency include the expected loss of currency from robbery.

23. The instructions of claim 20, wherein the currency transportation plan minimizes one or more of the costs of handling currency.

24. The instructions of claim 20, wherein the forecast for currency is generated using standard statistical distributions.

25. The instructions of claim 24, wherein the forecast for currency demand includes the expected currency demand, and currency demands at standard deviations above or below the expected currency demand.

26. The instructions of claim 20, wherein a currency delivery amount to a node is determined is determined as part of the transportation plan.