Method and apparatus for managing inventory

• US 6,182,053 B1
• Filed: 03/26/1996
• Issued: 01/30/2001
• Est. Priority Date: 03/26/1996
• Status: Expired due to Term

• Current Assignee: BMO Harris Bank NA (Bank of Montreal)
• Original Assignee: Recovery Sales Corporation
• Inventors: Sanderson, Blaine Everett, Myers, Paul David, Hanshaw, Frank III, Pack, Louis D., Ruiz, Robert Anthony, Rauber, Brett Alan
• Primary Examiner(s): Stamber, Eric W.
• Assistant Examiner(s): Patel, Jagdish
• Application Number:
  US08/622,033
• Time in Patent Office: 1,771 Days
• Field of Search: 705/28, 705/22, 235/375, 235/385, 364/479.06
• US Class Current: 705/28
• 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

A method and apparatus for managing inventory in a distressed inventory warehouse with the aid of a programmable computer is disclosed. The method and apparatus provides for the complete automation of the inventory management of a distressed inventory warehouse. The method and apparatus also provides for the continual updating of records related to the distressed inventory as it passes through various stages within the distressed inventory warehouse.

Claims

1. A method for managing inventory with the aid of a computer, said method comprising the steps:

receiving inventory information into the computer, said inventory information including inventory identification information and inventory destination information;

storing said inventory information in an inventory data record in the computer;

printing a machine-readable inventory label with a printer coupled with the computer after storing said inventory information, said inventory label including an inventory code associated with said inventory data record;

placing said inventory label on the inventory before the inventory is placed in an inventory destination;

inputting said inventory code into a programmable input device in communication with the computer for accessing said inventory data record;

entering updating information into the programmable input device when said inventory information changes;

sending the updating information from the programmable input device to said computer; and

updating the inventory data record stored in the computer in response to receipt of said updating information.

2. The method as set forth in claim 1, said updating information including order information indicating that a customer has offered to buy the inventory, said updating step including updating said data record to indicate that the customer has offered to buy the inventory.

3. The method as set forth in claim 2, further including the step of creating and storing said order information in an order data record in said computer.

4. The method as set forth in claim 3, further including the step of printing an order receipt including said order information stored in said order data record.

5. The method as set forth in claim 2, further including the steps:

receiving into the computer a target sales price for the inventory and a permissible price reduction range for each salesperson who may sell the inventory;

storing said target sales price in said inventory data record; and

storing said permissible price reduction ranges in an employee data record in said computer.

6. The method as set forth in claim 5, said order information including a salesperson password, a customer code identifying the customer, an offered purchase price for the inventory, and a quantity of the inventory ordered.

7. The method as set forth in claim 6, further including the step of comparing in said computer said offered purchase price to said permissible price reduction range for the employee to determine if the offered purchase price falls within said permissible price reduction range for the salesperson.

8. The method as set forth in claim 1, said updating information including price change information indicating that the price of the inventory has been changed, said updating step including updating said data record to indicate that the price of the inventory has been changed.

9. The method as set forth in claim 1, said updating information including tracking information indicating that the inventory has been moved to a new location, said updating step including updating said data record to indicate that the inventory has been moved to a new location.

10. The method as set forth in claim 1, the inventory having a machine readable freight bill including inventory information describing the inventory, said method further including the steps:

scanning the freight bill with one of the programmable input devices to read said inventory information; and

sending said inventory information from the programmable input device to the computer.

11. A method for tracking and selling multiple pieces of inventory with the aid of a computer and a plurality of portable scanning devices in communication with the computer, said method comprising the steps:

placing selected pieces of the inventory in a storage container;

receiving into the computer inventory information identifying each piece of inventory placed in said storage container;

receiving into the computer location information indicating where said storage container will be stored;

storing said inventory information and said location information in a portable grouping unit data record in the computer;

printing a machine-readable portable grouping unit label including a code associated with said portable grouping unit data record with a printer coupled with the computer;

placing the portable grouping unit label on the storage container;

scanning the portable grouping unit label with one of the portable scanning devices when a customer wishes to buy the inventory in the storage container;

entering order information into the portable scanning device;

sending the order information from the portable scanning device to the computer; and

updating the portable grouping unit data record in response to receipt of the order information to indicate that the inventory placed in the storage container has been purchased.

12. The method as set forth in claim 11, further including the step of creating and storing in said computer an order code including said order information.

13. The method as set forth in claim 12, further including the step of printing an order receipt including the order information stored in said order code.

14. The method as set forth in claim 13, said order information including a salesperson password, customer information identifying the customer who is buying the inventory, a sales price of the inventory, and a quantity of the inventory ordered.

15. The method as set forth in claim 11, further including the steps:

scanning selected pieces of inventory in said storage container with the portable scanning device when the customer wishes to buy said selected pieces of inventory;

entering order information into the second portable scanning device when a customer wishes to buy said selected pieces of inventory;

sending the order information from the portable scanning device to the computer; and

updating said portable grouping unit data record stored in the computer in response to receipt of the order information to indicate that said selected pieces of inventory have been purchased.

16. A method for managing distressed inventory received in a distressed inventory warehouse with the aid of a computer, said method comprising the steps:

receiving a plurality of pieces of unidentified inventory from a freight carrier;

identifying said unidentified pieces of inventory to obtain identified inventory;

receiving into the computer inventory information for each piece of said identified inventory, said inventory information including inventory identification information and inventory destination information;

storing said inventory information for each piece of said identified inventory in a separate inventory data record in the computer;

creating an inventory record database containing said inventory data records for all of said pieces of identified inventory;

printing a machine-readable inventory label for each of said pieces of said identified inventory with a printer coupled with the computer, said inventory labels each including an inventory code associated with its respective inventory data record; and

placing said inventory labels on their respective piece of said identified inventory for tracking said pieces of identified inventory as they are moved through the warehouse.

17. A distressed inventory management apparatus for managing distressed inventory comprising:

a computer configured to receive inventory information relating to the distressed inventory, said inventory information including inventory identification information and inventory destination information, to store said received inventory information in an inventory data record, and to create an inventory code associated with said inventory data record;

a printer coupled with said host computer configured to print a machine-readable inventory label including said inventory code associated with said inventory data record; and

an input device configured to scan said inventory label to read said inventory code, to receive updating information when said inventory information changes, and to transmit said updating information to said computer;

said computer further configured to receive said transmitted updating information from said input device and to update said inventory data record in response to receipt of said updating information.

18. A method for managing distressed, unidentified inventory with the aid of a computer, said method comprising the steps:

providing inventory identification and inventory destination information;

recieving said inventory information into the computer;

storing said inventory information in an inventory data record in the computer;

creating an inventory code associated with said inventory data record;

inputting said inventory code into a programmable input device in communication with the computer for accessing said inventory data record;

entering updating information into the programmable input device when said inventory information changes;

sending the updating information from the programmable input device to said computer, and

updating the inventory data record stored in the computer in response to reciept of said updating information.

19. The method as set forth in claim 18, further including the steps of;

printing a machine-readable inventory label with a printer coupled with the computer, said inventory label including an inventory code associated with said inventory data record; and

placing said inventory label on the inventory.