Inventory Management: End of Life Process
Publication Date: 2014-Jan-20
The IP.com Prior Art Database
Disclosed is a method to utilize rules to enhance an Inventory Management System to segregate end-of-life production parts.
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Inventory Management : :
When a manufacturer is going to stop production of a specific part and has notified the client of this stop production date, a method is needed by which to manage last time build inventory and last time buy shipments to close out the product, while meeting the
client's requirements. There is no process in the current state of art Inventory Management System (IMS) to differentiate between regular production inventory and inventory where the client has been notified of end-of-production date. Neither is there a present standard method for articulating risks for end-of-production parts. Current solutions are limited to manually handling production variables, using calculators, spreadsheets, etc.
The novel solution is a method to utilize rules to enhance an IMS to segregate end-of-life production parts. The method incorporates the last time buy date with the last time ship date posted in the end-of-life client notice. The method also incorporates the client demands as a result of the end-of-life notice to client. Accounting rules are
applied to calculate reserve risk against end-of-life production parts.
This can be embodied in the following ways:
• Supply Chain Planning of an End-Of-Life Build Quantity
• Supply Chain Monitoring of shipments
• Any situation where you have a specific end date on production and a
specific set of products that need to be called out from regular productionparts and standard method of describing risk apply...