SYSTEM AND METHOD OF JUST-IN TIME REVERSE LOGISTICS MANAGEMENT

• US 20170323264A1
• Filed: 05/05/2017
• Published: 11/09/2017
• Est. Priority Date: 05/05/2016
• Status: Active Grant

• Current Assignee: Rent The Runway, Inc.
• Original Assignee: Rent The Runway, Inc.
• Inventors: SUBRAMANIAN, VIJAY
• Granted Patent: US 10,592,858 B2
• Time in Patent Office: Days
• CPC Class Codes: G06Q 10/08 Logistics, e.g. warehousing, loading or distribution; Inventory or stock management
• CPC Class Codes: G06Q 10/083 Shipping
• CPC Class Codes: G06Q 10/087 Inventory or stock management, e.g. order filling, procurement or balancing against orders
• CPC Class Codes: G06Q 10/0875 Itemisation or classification of parts, supplies or services, e.g. bill of materials
• CPC Class Codes: G06Q 10/20 Administration of product repair or maintenance
• CPC Class Codes: G06Q 10/30 Administration of product recycling or disposal
• CPC Class Codes: G06Q 30/0635 Processing of requisition or of purchase orders
• CPC Class Codes: G06Q 30/0645 Rental transactions; Leasing transactions
• CPC Class Codes: G07F 7/00 Mechanisms actuated by objects other than coins to free or to actuate vending, hiring, coin or paper currency dispensing or refunding apparatus
• CPC Class Codes: Y02W 90/00 Enabling technologies or technologies with a potential or indirect contribution to greenhouse gas [GHG] emissions mitigation

Abstract

A system and method for just in-time reverse logistics management directed to receiving one or more product orders associated with one or more individual SKU'"'"'s; tracking one or more products SKU'"'"'s through a cyclical product lifecycle, matching a product order with a product in the cyclical product lifecycle; assembly the product order based on the priority hierarchy; and shipping the product order based on the priority hierarchy.

Claims

1. A method of cyclical inventory management comprising:

receiving one or more product orders associated with one or more individual SKU'"'"'s;

tracking one or more products SKU'"'"'s through a cyclical product lifecycle, wherein the cyclical product lifecycle comprises;

receiving a returned product associated with an individual SKU;

presorting the returned product based on a priority hierarchy;

performing maintenance on the returned product;

restocking the returned product for future sale;

matching a product order with a product in the cyclical product lifecycle;

assembly the product order based on the priority hierarchy;

shipping the product order based on the priority hierarchy.

2. The method of claim 1 wherein the priority hierarchy assigns a weighing factor to orders based on requirements to fill the product order including:

date of required delivery, days required for shipment, product inventory availability, expected return date from previous sale, availability of alternative products, customer membership category, customer event type.

3. The method of claim 1 wherein the cyclical product lifecycle comprises:

receiving a returned product associated with an individual SKU;

presorting the returned product based on a priority hierarchy;

pre-inspecting the returned product for maintenance;

cleaning the product;

steaming or ironing the product;

inspecting the product for quality control;

repairing the product.

restocking the returned product for future sale.

4. The method of claim 1 wherein tracking a product through the cyclical product lifecycle includes recording the step of the product life cycle at which the product resides.

5. The method of claim 4 further comprising providing an estimation of time until the product is restocked for future sale.

6. The method of claim 1 wherein assembly of the product order based on a priority hierarchy includes selecting a product from restocked inventory or selecting the product from the cyclical product lifecycle before restocking of the product.

7. The method of claim 1 further comprising calculating preferred shipping dates based on one or more factors comprising:

product availability;

least expensive shipping date;

first available shipping date, last possible shipping date;

bundling of orders;

requested receipt date or receipt time.

8. The method of claim 1 further comprising indicating on a display the status of a product in the cyclical product lifecycle, indicating the status of an order fulfillment, indicating the status of shipment or delivery.

9. The method of claim 1 further comprising recalculating the priority hierarchy based on a change in the cyclical product lifecycle, product availability, or competing orders.

10. The method of claim 9 wherein recalculation of the priority hierarchy is performed for all products in the product lifecycle simultaneously.

11. The method of claim 1 wherein the product sale is a rental sale.

12. A system for cyclical product lifecycle management comprising:

an order management module configured to receive one or more product orders wherein each product is associated with an individual SKU, and providing order information to the system;

a product lifecycle module configured to track a product associated with an individual SKU through a cyclical product lifecycle, wherein the cyclical product lifecycle comprises;

receiving a returned product associated with an individual SKU;

presorting the returned product based on a priority hierarchy;

performing maintenance on the returned product;

inspecting the returned product;

restocking the returned product for future sale;

a priority hierarchy module configured for assigning priority status to products in the cyclical lifecycle based on product order information, wherein the priority hierarchy includes one or more order weighting factors comprising;

date of required delivery, days required for shipment, product inventory availability, expected return date from previous sale, availability of alternative products, customer membership category, customer event type.

a fulfillment module for matching a product order information with restocked or otherwise available products for fulfilling product orders.

13. The system of claim 12 wherein the priority hierarchy module recalculates product priority for all products in the system based on state changes in the cyclical product lifecycle or new product orders.

14. The system of claim 12 wherein the priority hierarchy module recalculates product priority for a chain of products associated with a state change in the product lifecycle or new product orders.

15. The system of claim 12 wherein the cyclical product lifecycle comprises:

receiving a returned product associated with an individual SKU;

presorting the returned product based on a priority hierarchy;

pre-inspecting the returned product for maintenance;

cleaning the product;

steaming or ironing the product;

inspecting the product for quality control;

repairing the product; and

restocking the returned product for future sale.

16. The system of claim 12 wherein an indication is provided on a display as to the priority and status of a product order and/or product position within the product lifecycle.

17. The system of claim 16 wherein an order priority and/or product status are indicated based on a color scheme on a display.

18. The system of claim 16 wherein the priority hierarchy recalculates the priority of an order and/or product based on a state change to any product in the system and the displayed priority and status of an order and/or product is refreshed with after the recalculation.

19. The system of claim 12 wherein the fulfillment module records and/or calculates critical dates including preferred shipping dates based on one or more factors comprising:

product availability;

least expensive shipping date;

first available shipping date, last possible shipping date;

bundling of orders;

requested receipt date or receipt time.

20. The system of claim 12 wherein product fulfillment is shipment for a rental sale.