INVENTORY MANAGEMENT SYSTEM WITH LATE TRANSACTION PROCESSING

• US 20160171428A1
• Filed: 12/10/2014
• Published: 06/16/2016
• Est. Priority Date: 12/10/2014
• Status: Active Grant

• Current Assignee: Oracle International Corporation (Oracle Corporation)
• Original Assignee: Oracle International Corporation (Oracle Corporation)
• Inventors: GOOIJER, Steven Irene Andre, HAHR, Charles J. Jr.
• Granted Patent: US 9,684,883 B2
• Time in Patent Office: Days
• US Class Current: 1/1
• 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

An inventory management system processes late transactions. The system takes snapshots of stock counts recorded in an accounting system and receives a transaction record after taking the snapshots. The system then determine whether there is an open stock count corresponding to the transaction record and whether the snapshots include a snapshot of the open stock count. When the open stock count and the snapshot exist, the system writes the transaction record to a staging table. Then, upon proceeding from a first phase to a second phase of a plurality of stock count phases, the system updates the snapshot based on the staging table. The stock count phases include a count phase, a recount phase, and an authorize phase.

Claims

1. A computer-readable non-transitory medium having instructions stored thereon that, when executed by a processor, cause the processor to perform inventory management for late transaction processing, the performing comprising:

taking snapshots of stock counts recorded in an accounting system;

receiving a transaction record after the taking of the snapshots;

determining whether there is an open stock count for a stock item corresponding to the transaction record, wherein the open stock count comprises an ongoing physical count of the stock item;

determining whether the snapshots include a snapshot of the open stock count;

when the open stock count and the snapshot exist, writing the transaction record to a staging table; and

upon proceeding from a first phase to a second phase of a plurality of stock count phases, updating the snapshot based on the staging table, wherein the plurality of stock count phases include a count phase, a recount phase, and an authorize phase.

2. The computer-readable non-transitory medium of claim 1, wherein the transaction record is recorded via a point of sale device or generated according to an inventory adjustment.

3. The computer-readable non-transitory medium of claim 1, wherein, when there are no open stock counts, the performing further comprises:

determining that a last approved stock count date is after a transaction date of the transaction record; and

recording a late transaction corresponding to the transaction record.

4. The computer-readable non-transitory medium of claim 1, wherein, when there are no open stock counts, the performing further comprises:

determining that a last approved stock count date is before a transaction date of the transaction record; and

updating the stock on hand according to the transaction record.

5. The computer-readable non-transitory medium of claim 1, wherein the performing further comprises:

during the authorize phase, updating the snapshot upon an activation of a button by a user via a user interface or upon receiving a corresponding notification.

6. The computer-readable non-transitory medium of claim 1, wherein the updating further comprises:

determining whether a daily transaction processing is performed;

when the daily transaction processing is performed, determining whether a stock count time frame is before or after a corresponding store opens;

updating the snapshot and determining discrepancies when;

the stock count time frame is before the store opens and a transaction date of the transaction record is greater than a stock count date, or

the stock count time frame is after the store opens and the transaction date of the transaction record is less than or equal to the stock count date.

7. The computer-readable non-transitory medium of claim 1, wherein the performing further comprises:

capturing a physical timestamp corresponding to the transaction record;

when moving to the authorize phase, copying the physical timestamp to an authorization timestamp;

when the authorization timestamp is greater than or equal to a time of the transaction record, updating the snapshot and processing a corresponding inventory adjustment; and

when an authorized quantity is changed via a user interface, updating the authorization timestamp accordingly.

8. A method of inventory management for late transaction processing, the method comprising:

taking snapshots of stock counts recorded in an accounting system;

receiving a transaction record after the taking of the snapshots;

determining whether there is an open stock count for a stock item corresponding to the transaction record, wherein the open stock count comprises an ongoing physical count of the stock item;

determining whether the snapshots include a snapshot of the open stock count;

when the open stock count and the snapshot exist, writing the transaction record to a staging table; and

upon proceeding from a first phase to a second phase of a plurality of stock count phases, updating the snapshot based on the staging table, wherein the plurality of stock count phases include a count phase, a recount phase, and an authorize phase.

9. The method of claim 8, wherein the transaction record is recorded via a point of sale device or generated according to an inventory adjustment.

10. The method of claim 8, wherein, when there are no open stock counts, the method further comprises:

determining that a last approved stock count date is after a transaction date of the transaction record; and

recording a late transaction corresponding to the transaction record.

11. The method of claim 8, wherein, when there are no open stock counts, the method further comprises:

determining that a last approved stock count date is before a transaction date of the transaction record; and

updating the stock on hand according to the transaction record.

12. The method of claim 8 further comprising:

during the authorize phase, updating the snapshot upon an activation of a button by a user via a user interface or upon receiving a corresponding notification.

13. The method of claim 8 further comprising:

determining whether a daily transaction processing is performed;

when the daily transaction processing is performed, determining whether a stock count time frame is before or after a corresponding store opens;

updating the snapshot and determining discrepancies when;

the stock count time frame is before the store opens and a transaction date of the transaction record is greater than a stock count date, or

the stock count time frame is after the store opens and the transaction date of the transaction record is less than or equal to the stock count date.

14. The method of claim 8 further comprising:

capturing a physical timestamp corresponding to the transaction record;

when moving to the authorize phase, copying the physical timestamp to an authorization timestamp;

when the authorization timestamp is greater than or equal to a time of the transaction record, updating the snapshot and processing a corresponding inventory adjustment; and

when an authorized quantity is changed via a user interface, updating the authorization timestamp accordingly.

15. An inventory management system for performing inventory management for late transaction processing, the system comprising:

a processor configured to execute a collection of software modules, wherein the processor is further configured, when executing the collection of software modules, to;

take snapshots of stock counts recorded in an accounting system;

receive a transaction record after the taking of the snapshots;

determine whether there is an open stock count for a stock item corresponding to the transaction record, wherein the open stock count comprises an ongoing physical count of the stock item;

determine whether the snapshots include a snapshot of the open stock count;

write, when the open stock count and the snapshot exist, the transaction record to a staging table; and

update, upon proceeding from a first phase to a second phase of a plurality of stock count phases, the snapshot based on the staging table, wherein the plurality of stock count phases include a count phase, a recount phase, and an authorize phase.

16. The system of claim 15, wherein the transaction record is recorded via a point of sale device or generated according to an inventory adjustment.

17. The system of claim 15, wherein, when there are no open stock counts the processor is further configured, when executing the collection of software modules, to:

determine that a last approved stock count date is after a transaction date of the transaction record; and

record a late transaction corresponding to the transaction record.

18. The system of claim 15, wherein, when there are no open stock counts the processor is further configured, when executing the collection of software modules, to:

determine that a last approved stock count date is before a transaction date of the transaction record; and

update the stock on hand according to the transaction record.

19. The system of claim 15, wherein during the authorize phase the processor is further configured, when executing the collection of software modules, to update the snapshot upon an activation of a button by a user via a user interface or upon receiving a corresponding notification.

20. The system of claim 15, wherein the processor is further configured, when executing the collection of software modules, to determine

whether a daily transaction processing is performed;

when the daily transaction processing is performed, whether a stock count time frame is before or after a corresponding store opens;

discrepancies when

the stock count time frame is before the store opens and a transaction date of the transaction record is greater than a stock count date, or

the stock count time frame is after the store opens and the transaction date of the transaction record is less than or equal to the stock count date.