INVENTORY MANAGEMENT SYSTEM

• US 20100312611A1
• Filed: 08/20/2009
• Published: 12/09/2010
• Est. Priority Date: 09/02/2005
• Status: Active Grant

• Current Assignee: FlowVision, LLC
• Original Assignee: Flow Vision LLC
• Inventors: Henderson, Michael, Cortes, Gerson, McCreary, Preston, Pytel, David
• Granted Patent: US 8,515,834 B2
• Time in Patent Office: Days
• US Class Current: 705/10
• CPC Class Codes: G06Q 10/04 Forecasting or optimisation specially adapted for administrative or management purposes, e.g. linear programming or "cutting stock problem" market predictions or forecasting for commercial activities G06Q30/0202
• CPC Class Codes: G06Q 10/0637 Strategic management or analysis, e.g. setting a goal or target of an organisation; Planning actions based on goals; Analysis or evaluation of effectiveness of goals

Abstract

A statistical inventory management system may optimize inventory investment using historical usage and/or consumption of an inventory component by determining one or more target inventory levels (e.g., replenishment levels). Historical usage data may be summed for a plurality of at least partially non-overlapping time periods that may be each equal in duration to a supplier lead-time period for the component to create lead-time usage data. The lead-time usage data may be utilized to more accurately determine future inventory levels (e.g., target inventory levels) because the lead-time usage data may have a reduced variance compared to, for example, day-to-day usage. The inventory management system may be employable by a computing system having a display module (e.g., GUI) that allows a user to receive at least one graphical representation indicative of at least one target inventory level of at least one inventory component (e.g., by selectively interacting with the display module).

Claims

1. An inventory control system for determining a target inventory level of at least one component of a product, comprising:

a computer readable medium, comprising;

component usage data indicative of a magnitude of at least one of historical consumption of the at least one component during a time period and forecasted consumption of the at least one component during a time period; and

a target inventory module that is employable to determine a plurality of target inventory levels for the at least one component at least in part by analyzing the component usage data, the target inventory module including computer readable instructions that are operable to;

sum a portion of the component usage data for a plurality of at least partially non-overlapping time periods that are each equal in duration to a supplier lead-time period for the at least one component to create lead-time usage data; and

determine the plurality of target inventory levels from the lead-time usage data;

a processor that is operable to employ the computer readable instructions to determine the plurality of target inventory levels; and

a display module that is operable to provide at least one graphical representation indicative of at least one of the plurality of target inventory levels, component usage data corresponding with the at least one component, and lead-time usage data, as a function of time.

2. The system of claim 1, wherein the computer readable instructions of the target inventory module are operable to statistically determine a variance amount of each of the plurality of target inventory levels of the at least one component, wherein the variance amount is operable to be added to a base inventory amount to create one of the plurality of target inventory levels.

3. The system of claim 2, wherein the computer readable instructions are operable to statistically determine the variance amount by carrying out the steps of:

calculating a standard deviation of the lead-time usage data;

identifying a number of standard deviations that includes a predetermined percentage of the lead-time data; and

multiplying the standard deviation by the number of standard deviations to generate the variance amount.

4. The system of claim 2, wherein each of the plurality of target inventory levels is determinable by the processor utilizing a selected one of a plurality of different computer readable instruction sets.

5. The system of claim 4, wherein a first of the plurality of different computer readable instruction sets is operable to carry out the steps of:

determining an average of the lead-time usage data to create the base inventory amount; and

summing the base inventory amount and the variance amount.

6. The system of claim 4, wherein a second of the plurality of different computer readable instruction sets is operable to carry out the steps of:

creating adjusted lead-time usage data;

determining an average of the adjusted lead-time usage data to create the base inventory amount; and

summing the base inventory amount and the variance amount.

7. The system of claim 6, wherein the creating step comprises:

fitting a line to the lead-time usage data; and

using the line to calculate the adjusted lead-time usage data.

8. The system of claim 7, wherein the using step comprises identifying a slope of the line.

9. The system of claim 4, wherein a third of the plurality of different computer readable instruction sets is operable to carry out the steps of:

creating a projected growth level of the at least one component;

determining an average of the lead-time usage data to create the base inventory amount; and

summing the base inventory amount, the variance amount and the projected growth level.

10. The system of claim 9, wherein the lead-time usage data comprises adjusted lead-time usage data.

11. The system of claim 4, wherein a fourth of the plurality of different computer readable instruction sets is operable to carry out the steps of:

analyzing component usage data indicative of forecasted consumption of the at least one component during a time period to create the base inventory amount; and

summing the base inventory amount and the variance amount.

12. The system of claim 11, wherein the analyzing step comprises:

determining dimensions of the supplier lead-time period;

obtaining an average of the component usage data indicative of forecasted consumption in the dimensions of the supplier lead-time period; and

multiplying the supplier lead-time period by the average of the component usage data indicative of forecasted consumption to create the base inventory amount.

13. The system of claim 4, wherein a fifth of the plurality of different computer readable instruction sets is operable to carry out the steps of:

analyzing component usage data indicative of forecasted consumption of the at least one component during a time period to create the base inventory amount; and

summing the base inventory amount and the statistical inventory level, wherein the variance amount is determined utilizing adjusted lead-time usage data.

14. The system of claim 4, further comprising:

at least one user interface device for operatively interfacing with the display module, wherein the at least one user interface device is operable to select a first portion of the display module corresponding with the at least one component to display at least one graphical representation indicative of at least one of the plurality of target inventory levels for the at least one component on a second portion of the display module according to at least one of the plurality of different computer readable instruction sets.

15. The system of claim 14, wherein the at least one user interface device is selected from the group consisting of a hand manipulable point and click device, a touch screen device, a keyboard, a retinal detection device, and a voice recognition device.

16. The system of claim 14, wherein the display module comprises a plurality of display regions, wherein the first portion of the display module comprises a first of the plurality of display regions, wherein the first of the plurality of display regions includes a plurality of cells, wherein each of the cells corresponds with at least one component, and wherein the user interface device is operable to select one of the plurality of cells to display the at least one graphical representation indicative of the at least one of the plurality of target inventory levels for the at least one component on the second portion of the display module.

17. The system of claim 16, wherein the second portion of the display module comprises a second of the plurality of display regions.

18. The system of claim 1, further comprising:

at least one user interface device to operatively interface with the display module, and

at least one user controllable device that is operable to be controlled by the least one user interface device to select any of a plurality of display regions of the display module for operative interface, wherein a first of the plurality of display regions includes the at least one graphical representation, wherein a second of the plurality of display regions includes a plurality of cells, wherein each of the cells corresponds with at least one component, and wherein the at least one user interface device and the at least one user controllable device are operable to provide a plurality of user manipulable features for modifying the at least one graphical representation.

19. The system of claim 18, wherein a first user manipulable feature of the plurality of user manipulable features is employable to set at least one statistical range of the at least one graphical representation.

20. The system of claim 19, wherein the at least one user interface device and the at least one user controllable device are operable to provide the first user manipulable feature for inputting at least one statistical range into one or more cells of the second display region.

21. The system of claim 19, wherein the statistical range comprises a range of user-defined dates.

22. The system of claim 18, wherein a second user manipulable feature of the plurality of user manipulable features is employable to display at least one pop-up window on the display module.

23. The system of claim 22, wherein the at least one user interface device and the at least one user controllable device are operable to provide the second user manipulable feature for selecting of a portion of the at least one graphical representation to display the at least one pop-up window on the display module.

24. The system of claim 23, wherein the portion of the at least one graphical representation comprises at least one data point of the at least one graphical representation.

25. The system of claim 22, wherein the at least one user controllable device is selectively positionable within the pop-up window to modify the component usage data.

27. The system of claim 25, wherein the at least one user controllable device is selectively positionable within the pop-up window to modify a statistical range of the at least one graphical representation.

26. (canceled)

28-45. -45. (canceled)