Processing Transactions in Connection with a Physical Supply Chain

• US 20150149352A1
• Filed: 01/30/2015
• Published: 05/28/2015
• Est. Priority Date: 06/16/2008
• Status: Abandoned Application

• Current Assignee: Bank of America Corp.
• Original Assignee: Bank of America Corp.
• Inventors: Atwood, Todd, Heddleson, James, Nichols, Michelle D.
• Application Number:
  US14/609,750
• Publication Number:
  US 20150149352A1
• Time in Patent Office: Days
• US Class Current: 705/40
• CPC Class Codes: G06Q 10/08 Logistics, e.g. warehousing, loading or distribution; Inventory or stock management
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/405 Establishing or using transaction specific rules
• CPC Class Codes: G06Q 40/12 Accounting
• CPC Class Codes: G07C 9/00309 operated with bidirectional data transmission between data carrier and locks
• CPC Class Codes: G08B 13/08 by opening, e.g. of door, of window, of drawer, of shutter, of curtain, of blind
• CPC Class Codes: G08B 13/1481 with optical detection
• CPC Class Codes: G08B 13/2402 Electronic Article Surveillance [EAS], i.e. systems using tags for detecting removal of a tagged item from a secure area, e.g. tags for detecting shoplifting mechanical aspects of the tags, e.g. related to locking E05B73/0017; RFID readers G06K7/00; RFID tags G06K19/00; access control systems G07C9/00; anti-theft control in point of sale systems G07G3/003; security seals G09F3/03

Abstract

A method for processing a transaction includes receiving a notification of a change in status of physical goods or other event in a physical supply chain, and automatically transferring funds in response to the notification. The automatic transfer of funds may be performed according to a stored rule for automatically transferring the funds in response to the notification. Typically, the goods and the event are related to the party to which the funds are transferred. If the funds are a portion of an agreed-upon payment, one or more additional notifications may be received for one or more additional changes in status of the goods or other events in the physical supply chain, and additional portions of the payment are transferred in response to each additional notification.

Claims

1. A computer-assisted method comprising:

storing, in memory, a first rule and a second rule for automatic transfer of funds in response to receiving notification of at least a first event and a second event in a physical supply chain, at least one of the first and second events being selected from a limited list of different events, wherein the funds comprise at least a first portion and a second portion of an agreed-upon payment to a party for sale of physical goods in a financial transaction related to the party;

receiving, by a computing device in communication with the memory, a first notification of the first event in the physical supply chain, wherein the first event comprises a first change in physical status of a unit of physical goods along the physical supply chain;

automatically transferring the first portion of the agreed-upon payment to the party, by the computing device, in response to the first notification, according to the first rule;

receiving, by the computing device, a second notification of the second event in the physical supply chain, wherein the second event comprises a second change in physical status of the unit of physical goods along the physical supply chain; and

automatically transferring the second portion of the agreed-upon payment to the party, by the computing device, in response to the second notification, according to the second rule.

2. The method of claim 1, wherein the first notification is an electronic notification.

3. The method of claim 1, wherein the first or second notification is generated automatically in response to electronic detection by an electronic detection device selected from the group consisting of:

an RFID scanner, a bar code scanner, and an internal system transaction code detector.

4. The method of claim 1, wherein the first event is a delivery of physical goods from one point to another point in the physical supply chain.

5. The method of claim 1, wherein the first and second changes in physical status of the physical goods are selected from a group consisting of:

shipment of at least some of the physical goods, delivery of at least some of the physical goods, advancement of at least some of the physical goods on a retailer'"'"'s storefront, confirmed satisfaction of quality control standards for at least some of the physical goods, and reaching a specified inventory level related to the physical goods.

6. The method of claim 1, wherein the first and second rules are established by an agreement between the party and a second party involved in the transfer.

7. The method of claim 1, wherein the first rule and the second rule are received as input by the computing device via a form made available by the computing device for access, and wherein the form also includes a selection of the at least one of the first event and the second event from the limited list of different events.

8. A computer readable medium comprising computer-executable instructions configured to cause a computing device to perform:

receiving an electronic notification of a first event in a physical supply chain, wherein the first event is related to a party and comprises a first change in physical status of a unit of physical goods along the physical supply chain;

automatically transmitting a first signal to transfer a first portion of an agreed-upon payment to the party, in response to the notification;

receiving, a second electronic notification of a second event in the physical supply chain, wherein the second event is related to the party and to the first event and comprises a second change in physical status of the unit of physical goods along the physical supply chain; and

automatically transferring a second portion of the agreed-upon payment to the party in response to the second notification,

wherein at least one of the first and second events is selected from a limited list of different events.

9. The computer readable medium of claim 8, wherein the first event is a delivery of physical goods from one point to another point in the physical supply chain.

10. The computer readable medium of claim 8, wherein the first and second portions are transferred pursuant to a pre-existing agreement between the party and a second party involved in the transfer.

11. A computer-assisted method comprising:

receiving input, by a computing device, to provide control to create a first rule for automatic transfer of funds to a party in response to receiving a first notification of a first specified event that comprises a first change in physical status of a unit of physical goods in a physical supply chain, and to create a second rule for automatic transfer of funds to the party in response to receiving a second notification of a second specified event that comprises a second change in physical status of the unit of physical goods in the physical supply chain, the first specified event and the second specified event being related to the party, wherein the input is received via a form made available by the computing device for access, and wherein the input includes a selection of the first specified event and the second specified event from a limited list of different events;

automatically transmitting a first signal, by the computing device, to transfer a first portion of the funds to the party in response to receiving the first notification, according to the first rule; and

automatically transmitting a second signal, by the computing device, to transfer a second portion of the funds to the party in response to receiving the second notification, according to the second rule.

12. The method of claim 11, wherein the relationship is an account relationship with a second party, and the funds are controlled by the second party pursuant to the account relationship.

13. The method of claim 11, wherein the first specified event is a delivery of physical goods from one point to another point in the physical supply chain.

14. The method of claim 11, wherein the first and second rules are created based on a pre-existing agreement between the party and a second party involved in the transfer.

15. The method of claim 14, wherein the first specified event is a delivery of physical goods to the second party, and the funds are transferred to the party.

16. A computer readable medium comprising computer-executable instructions configured to cause a computing device to perform:

providing for creation of a first rule for automatic transfer of funds to a party, in response to receiving a first notification of a first specified event that comprises a first change in physical status of a unit of physical goods in a physical supply chain, and for creation of a second rule for automatic transfer of funds to the party in response to receiving a second notification of a second specified event that comprises a second change in physical status of the unit of physical goods in the physical supply chain, wherein the creation of the first and second rules is controllable via a form made available by the computing device for access, and wherein the creation of the first and second rules includes a selection of the first and second specified events from a limited list of different events;

automatically transmitting a first signal to transfer a first portion of the funds to the party in response to receiving the first notification, according to the first rule; and

automatically transmitting a second signal to transfer a second portion of the funds to the party in response to receiving the second notification, according to the second rule.

17. The computer readable medium of claim 16, wherein the first specified event is a delivery of physical goods from one point to another point in the physical supply chain.

18. The computer readable medium of claim 16, wherein the first and second changes in status of the physical goods are selected from a group consisting of:

shipment of at least some of the physical goods, delivery of at least some of the physical goods, advancement of at least some of the physical goods on a retailer'"'"'s storefront, confirmed satisfaction of quality control standards for at least some of the physical goods, and reaching a specified inventory level related to the physical goods.

19. The computer readable medium of claim 16, wherein the first and second rules are created based on a pre-existing agreement between the party and a second party involved in the transfer.

20. The computer readable medium of claim 19, wherein the first specified event is a delivery of physical goods to the second party, and the first portion of the funds is transferred to the party.

21. A computer-assisted method comprising:

storing, in memory, a database containing a plurality of rules relating to a plurality of parties, the rules comprising a first rule for automatic transfer of funds in response to receiving a first notification of a first event in a first physical supply chain, the first event being related to a first party, and a second rule for taking a specified action other than transfer of funds, in response to receiving a second notification of a second event in a second physical supply chain, the second event being related to a second party;

receiving, by a computing device in communication with the memory, the first notification of the first event in the first physical supply chain;

automatically transferring funds related to the first party, by the computing device, in response to the second notification, according to the first rule;

receiving, by the computing device, the second notification of the second event in the second physical supply chain; and

automatically transmitting a signal to initiate the specified action, by the computing device, in response to the second notification, according to the first rule.

22. The method of claim 21, wherein the first rule is received as input by the computing device via a form made available by the computing device for access by the first party, and the second rule is received as input by the computing device via the form made available by the computing device for access by the second party.