System and method for management of perpetual inventory values based upon financial assumptions
US10558947B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Mar 12, 2018 |
| Grant date | Feb 11, 2020 |
| Priority date | — |
| Expiry date | Mar 12, 2038 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/12
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A book inventory monetary value of a selected product in the retail store is received. The book inventory monetary value is the monetary value of the selected product according to the accounting records of a retail store. A perpetual inventory (PI) monetary value is also received from the retail store. The PI monetary value is a product of multiplying a PI value for the selected product with the cost of the selected product. The book inventory monetary value and the PI monetary value are stored in a database. Subsequently, the book inventory monetary value and the PI monetary value are retrieved from the database. A difference between the book inventory monetary value and the PI monetary values is determined. An adjustment of the PI value is determined based upon the difference.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.