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Method for monitoring excess inventory

  • US 5,960,414 A
  • Filed: 11/25/1997
  • Issued: 09/28/1999
  • Est. Priority Date: 11/25/1997
  • Status: Expired due to Fees
First Claim
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1. A method for monitoring excess inventory for a component part, the method allowing flexibility in choosing a methodology for performing forecasting, and the method comprising the following steps:

  • (a) determining requirements for the component part over a predetermined period from material requirements planning (MRP) data;

    (b) when forecasting for the component part is to be determined using an MRP planning method, performing the following substeps;

    (b.1) determining, from the MRP data, a number of excess components parts, and(b.2) recording the number of excess components in a record for the component part within an excess inventory table; and

    ,(c) when forecasting for the component part is to be determined using an alternate planning method which is alternate to MRP, performing the following substeps;

    (c.1) determining, from the alternate planning method, a number of excess component parts, and(c.2) recording, in the record for the component part within the excess inventory table, the number of excess components and a notation indicating the alternate planning method used.

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