Method and apparatus to efficiently verify inventory

US8346630B1 · kind B1 · utility

Assignee

• Intuit Inc. · US

Inventor

• Neil Edward McKeown · Lodi, US

Key dates

• Filing date: Jun 30, 2006
• Grant date: Jan 1, 2013
• Expiry date: Jan 17, 2031

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q10/087
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A method and apparatus to efficiently verify inventory includes a process for verifying inventory in sub-sets using trigger parameters whereby priority status triggers are defined which indicate that an inventory item is particularly susceptible to inaccuracies/discrepancies between physical inventory and inventory as calculated by a computing system implemented financial management system. In one embodiment, transactions and/or events associated with units of the inventory item, or inventory item class, are then monitored for occurrence of any of the priority status triggers. In one embodiment, if one or more priority status triggers occur associated with the given inventory item, or inventory item class, the inventory item, or inventory item class, is given priority verify status indicating that the inventory item, or inventory item class, should be physically inventoried on a priority basis.