System and method for enhancing supply chain transactions

• US 20070192216A1
• Filed: 04/19/2006
• Published: 08/16/2007
• Est. Priority Date: 06/08/2005
• Status: Active Grant

• Current Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Original Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Inventors: Fitzgerald, Thomas, Wilson, James, Quinn, Michael, Arnold, Brian, Simpson, Paul, Brockwell, John, Lo, Pik
• Granted Patent: US 7,822,682 B2
• Time in Patent Office: Days
• US Class Current: 705/28
• CPC Class Codes: G06Q 10/08 Logistics, e.g. warehousing, loading or distribution; Inventory or stock management
• CPC Class Codes: G06Q 10/087 Inventory or stock management, e.g. order filling, procurement or balancing against orders
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping systems
• CPC Class Codes: G06Q 20/14 specially adapted for billing systems
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 50/28 Logistics, e.g. warehousing, loading, distribution or shipping

Abstract

A system and method for processing particulars of a transaction over a network. The system comprises a supply chain tracking module for receiving supply chain event data from at least one supply chain monitor, the supply chain data relating to the condition or location of an item along a supply chain. The system also comprises a term and requirements module for receiving initial terms and requirements associated with the transaction and for generating modified terms and requirements based on supply chain event data and on at least one value algorithm, the modified terms and requirements being generated while the item is still in the supply chain.

Claims

1. A system for processing particulars of a transaction over a network, comprising:

a supply chain tracking module for receiving supply chain event data from at least one supply chain monitor, the supply chain data relating to the condition or location of an item along a supply chain; and

a term and requirements module for receiving initial terms and requirements associated with the transaction and for generating modified terms and requirements based on supply chain event data and on at least one value algorithm, the modified terms and requirements being generated while the item is still in the supply chain.

2. The system of claim 1 wherein the supply chain event data comprises a condition or location of item in the supply chain.

3. The system of claim 1 wherein the at least one supply chain monitor comprises a third party logistics provider.

4. The system of claim 1 further comprising a settlement processor for settling the transaction based on the modified terms and requirements.

5. The system of claim 4 wherein settlement comprises partial settlement of the transaction.

6. The system of claim 1 wherein the modified terms and requirements comprise a change in price of the transaction.

7. The system of claim 1 further comprising an insurance module for obtaining insurance for the transaction based on the supply chain event data.

8. The system of claim 1 further comprising a payment module for making payment on the transaction.

9. The system of claim 1 wherein the item comprises a perishable good or product.

14. The system of claim 1 wherein the supply chain event data comprises a condition or location of the item in the supply chain.

15. The system of claim 1 wherein the item comprises a perishable good or product.

17. The system of claim 1 wherein the supply chain event data comprises a condition or location of item in the supply chain.

18. The system of claim 1 wherein the at least one supply chain monitor comprises a third party logistics provider.

20. The system of claim 1 wherein the item comprises a perishable good or product.

10. A method for processing supply chain transactions, comprising:

receiving initial terms and requirements associated with the transaction;

receiving supply chain data from at least one supply chain monitor, the supply chain data relating to the condition or location of an item along a supply chain; and

generating revised terms and requirements by modifying the initial terms and requirements based on supply chain event data and on at least one value algorithm while the item is still in the supply chain.

11. The method of claim 10 further comprising the step of settling at least part of the transaction based on the supply chain data.

12. The method of claim 11 wherein settlement comprises partial settlement of the transaction.

13. The system of claim 10 wherein the modified terms and requirements comprise a change in price of the transaction

19. The method of claim 11 wherein settlement comprises partial settlement of the transaction.

16. A system for processing particulars of a transaction over a network, comprising:

supply chain tracking means for receiving supply chain event data from at least one supply chain monitor, the supply chain data relating to the condition or location of an item along a supply chain;

term and requirements means for receiving initial terms and requirements associated with the transaction and for modifying the initial terms and requirements based on supply chain event data; and

settlement means for settling the transaction based on the modified terms and requirements.