Inventory management system and method

US6341271B1 · kind B1 · utility

Assignee

• General Electric Company · US

Inventors

• Joseph James Salvo · Niskayuna, US
• Patricia Denise Mackenzie · Clifton Park, US
• Janet Sue Bennett · Scotia, US
• Heather Ann Relyea · Niskayuna, US
• Thomas A. Morelli · Delmar, US

Key dates

• Filing date: Nov 13, 1998
• Grant date: Jan 22, 2002
• Expiry date: Nov 13, 2018

Classification

• Technology area (CPC Y): Emerging Cross-Sectional Technologies
• CPC primary: Y02P90/02
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

An inventory management system automatically monitors inventory amounts, provides information concerning inventory, and decides if an order for replacement inventory should be placed. The system includes a storage for inventory, an indicator for monitoring and reporting the level of current inventory, and a controller for receiving information from different inventory suppliers and for integrating such information with information on current inventory amounts and estimated future use to decide if an order for replacing inventory should be made. An order is placed automatically to a supplier and the progress for the delivery of replacement inventory is automatically monitored. A method using this system for managing inventory includes the steps of automatic gathering information about the current inventory and deciding whether and when replacement inventory should be ordered.