Method and program for reduction of retail sales revenue limitations

• US 7,124,941 B1
• Filed: 07/07/2003
• Issued: 10/24/2006
• Est. Priority Date: 07/07/2003
• Status: Expired due to Fees

• Current Assignee: Shrink Solutions, Inc.
• Original Assignee: Shrink Solutions, Inc.
• Inventors: O'Connell, Gregory
• Primary Examiner(s): Kim, Ahshik
• Application Number:
  US10/614,488
• Time in Patent Office: 1,205 Days
• Field of Search: 235/375, 235/376, 235383-385, 235/381, 705/22, 705/28, 705/30
• US Class Current: 235/385
• CPC Class Codes: G06Q 10/087 Inventory or stock management, e.g. order filling, procurement or balancing against orders

Abstract

A computer database stores information on inventory product items and associated disposition instructions for unsold product. A field representative at a retail store location processes product items for disposition according to the disposition instructions maintained on the master database. Disposition instructions include destroy, donate, or special handling instructions. The field representative processes unsold product items using a data collection device that includes a data input interface and a communication interface to update the database and track unsold product items remaining in inventory. The database is updated using the input product item, and disposition instructions stored on the master database are displayed on the data collection device for implementation for each scanned product item. At the end of the visit, a credit memo is provided to the retail store for translation into a cash credit or check.

Claims

1. A system for monitoring and managing unsold product inventory items comprising:

a master database on a computer server storing data elements in data tables relating to the product inventory items at one or more retail sales operations;

a data collection device having an internal memory, a data input interface that includes a product code detection device and a manual data entry device, a display screen, and a communication link to the master database on the computer server, said product code detection device used in a retail store to detect product data from individual unsold inventory product items;

one or more data elements transmitted to the master database on the communication link to update a data element in a data table; and

a disposition instruction for specified unsold product items transmitted to the data collection device on the communication link, said disposition instruction providing an instruction on the disposition of one or more specified unsold product items that is displayed on the display screen of the data collection device after receipt of product information by the data collection device while located within the retail store.

2. The system for monitoring and managing unsold product inventory items of claim 1 wherein the received data elements updating the master database are transmitted from a retailer.

3. The system for monitoring and managing unsold product inventory items of claim 1 wherein the received data elements updating the master database are transmitted from a manufacturer.

4. The system for monitoring and managing unsold product inventory items of claim 1 wherein data elements stored in the master database include a unique product item data.

5. The system for monitoring and managing unsold product inventory items of claim 1 wherein data from unsold inventory products items is scanned into the data collection using an optical scanner to collect coded data from a package label.

6. The system for monitoring and managing unsold product inventory items of claim 1 wherein data from unsold inventory products items is scanned into the data collection device using a radio frequency scanner to collect coded data from a package tag.

7. The system for monitoring and managing unsold product inventory items of claim 1 wherein the data from unsold inventory product items is entered into the data collection device using a touch responsive interface.

8. A method for implementing a disposition instruction for unsold product items remaining in inventory at a retail level store comprising the steps of:

providing a master database on a computer server that stores product information and disposition instructions for specified unsold product items in a retail store inventory;

collecting data elements from store inventory items at the retail store by a data collection device having a display, a data element scanning interface, a manual data input interface, a central processing unit, and a memory containing product item and program control information, said data elements are encoded on product item packaging and said data elements containing information associated with the product item;

displaying on the data collection device a listing of unsold product items specified to collect data from;

transmitting one or more data elements on product information to said computer server to update a data table in said master database with the one or more data elements including collected data from the unsold product items;

transmitting disposition instructions for at least one specified unsold product items from the computer server to the data collection device and displaying said instructions on the display; and

implementing said disposition instructions for specified unsold product items at the retail level store after data collection and display of restrictions.

9. The method for implementing a disposition instruction for unsold product items remaining in inventory at a retail level store of claim 8 wherein disposition instructions include hold for vendor instructions.

10. The method for implementing a disposition instruction for unsold product items remaining in inventory at a retail level store of claim 8 wherein disposition instructions include donate instructions.

11. The method for implementing a disposition instruction for unsold product items remaining in inventory at a retail level store of claim 8 wherein disposition instructions include destroy instructions.

12. The method for implementing a disposition instruction for unsold product items remaining in inventory at a retail level store of claim 8 wherein disposition instructions include special handling instructions.

13. The method for implementing a disposition instruction for unsold product items remaining in inventory at a retail level store of claim 8 further comprising the step of

transmitting one or more data elements on product information or program control information to the data collection device during an in-store review of specific unsold product items from the master database.

14. The method for implementing a disposition instruction for unsold product items remaining in inventory at a retail level store of claim 13 further comprising the step of

transmitting one or more data elements on product information or program control information to the data collection device before an in-store review of specific unsold product items stored in the device memory from the master database.

15. A method for acquiring data and managing unsold product items in inventory at a retail level store comprising the steps of:

providing a master database on a computer server storing data elements associated with identified product items and including disposition instructions for specified unsold product items;

providing a data collection device having an internal memory, a data input interface that includes a data code scanning device and a manual data input device, a display screen, and a communication link to the master database on the computer server;

inputting one or more data elements from encoded data associated with the product item into the data collection device in a retail level store using said data input interface during an in store review of unsold product items, said review promoted by a computer coupled to the master database;

transmitting said one or more data elements from the data collection device to said computer server to update a data table in said master database; and

displaying a disposition instruction for the specified unsold product item on the display screen of the data collection device for implementing at the retail store.

16. The method for acquiring data and managing product items in inventory at a retail level store of claim 15 further comprising the steps of:

inputting a unique product item data element for one or more specified product items into the data collection device by a field representative visiting said store; and

transmitting one or more data elements associated with said unique product item data element to the computer server for storing in the master database and associated with the specific store inventory.

17. The method for acquiring data and managing product items in inventory at a retail level store of claim 16 wherein the data elements include a response to a question displayed on the data collection device.

18. The method for acquiring data and managing product items in inventory at a retail level store of claim 16 wherein the data elements include an identifier for the disposition implemented for the unsold product item.

19. The method for acquiring data and managing product items in inventory at a retail level store of claim 16 wherein the data elements include a shipping destination.

20. The method for acquiring data and managing product items in inventory at a retail level store of claim 15 further comprising the step of transmitting disposition instructions for one or more specified unsold product items to the data collection device during an in-store visit.