Description:TECHNICAL FIELD
[0001] The present invention relates generally to supply chain management, and more particularly to a system for real-time tracking and monitoring of inventory in a supply chain.
BACKGROUND ART
[0002] Background description includes information that may be useful in understanding the present invention. It is not an admission that any of the information provided herein is prior art or relevant to the presently claimed invention, or that any publication specifically or implicitly referenced is prior art.
[0003] Supply chain management refers to the process of planning, organizing, and controlling the movement of goods and services from the supplier to the end-user. In recent years, there has been a growing need for real-time tracking and monitoring of inventory in supply chains. This is because traditional inventory tracking methods such as periodic physical counts, barcodes, and manual entries are prone to errors, delays, and inaccuracies.
[0004] In today's global economy, supply chain management is a critical component of the success of any business. Effective supply chain management requires real-time tracking and monitoring of inventory in order to ensure that products are available when and where they are needed. However, traditional inventory management systems are often manual and time-consuming, making it difficult to keep track of inventory levels in real-time.
[0005] One prior art related to the present invention is the RFID technology. RFID (Radio Frequency Identification) is a wireless technology that uses radio waves to identify and track objects. It consists of a small chip or tag that contains information about the object and a reader that can detect the tag's signal. RFID technology has been widely used in supply chain management to track inventory, reduce theft, and improve logistics. However, RFID has limitations in terms of range, cost, and scalability. It is also susceptible to interference and signal blocking, which can lead to inaccurate readings.
[0006] Another prior art related to the present invention is the GPS technology. GPS (Global Positioning System) is a satellite-based navigation system that provides location and time information. GPS has been used in supply chain management to track the movement of goods and vehicles. However, GPS has limitations in terms of accuracy, especially in urban areas or indoor environments where the signal can be weak or blocked. GPS also requires a clear line of sight to the sky, which may not be possible in certain situations.
[0007] The present invention improves upon these prior arts by combining various technologies and methodologies to create a more robust and reliable system for real-time tracking and monitoring of inventory in a supply chain. The system uses a combination of sensors, RFID, GPS, and other advanced technologies to collect data on inventory levels, location, and condition. The data is then transmitted to a centralized cloud-based platform where it is analyzed and processed using data analytics and machine learning algorithms. The platform provides real-time insights and alerts to supply chain managers, enabling them to make informed decisions and take timely actions to optimize their operations.
[0008] Therefore, there is a need of system for real-time tracking and monitoring of inventory in a supply chain. The system utilizes advanced technologies such as the Internet of Things (IoT), cloud computing, and data analytics to provide accurate and up-to-date information on inventory levels, location, and condition. This enables supply chain managers to make informed decisions, reduce waste, and improve overall efficiency.
[0009] One of the key advantages of the present invention over prior art systems is its ability to analyze legal documents and provide insights to users. The system can identify patterns and trends in legal documents, which can be used to improve the system's performance and provide users with valuable insights into legal trends and developments. The system also has the ability to generate legal documents that are compliant with local laws and regulations, which is critical for businesses operating in multiple jurisdictions.
[0010] Therefore, the present disclosure overcomes the above-mentioned problem associated with the traditionally available method or system, any of the above-mentioned inventions can be used with the presented disclosed technique with or without modification.
[0011] All publications herein are incorporated by reference to the same extent as if each individual publication or patent application were specifically and individually indicated to be incorporated by reference. Where a definition or use of a term in an incorporated reference is inconsistent or contrary to the definition of that term provided herein, the definition of that term provided herein applies and the definition of that term in the reference does not apply.
OBJECTS OF THE INVENTION
[0012] The principal object of the present invention is to overcome the disadvantages of the prior art.
[0013] Another object of the present invention is to provide a system for real-time tracking and monitoring of inventory in a supply chain.
[0014] Another object of the present invention is to automates the order management system that allows users to place orders for products directly through the system.
[0015] Another object of the present invention is to provide the demand forecasting system to predict future demand for each product
[0016] Another object of the present invention is to provide an elegant, reliable and precise approach towards the system for real-time tracking and monitoring of inventory in a supply chain.
[0017] Yet another object of the present invention is to provide a process of improving functionalities of the system for real-time tracking and monitoring of inventory in a supply chain.
SUMMARY
[0018] The present invention relates generally to supply chain management, and more particularly to a system for real-time tracking and monitoring of inventory in a supply chain.
[0019] The system for real-time tracking and monitoring of inventory in a supply chain, includes a plurality of sensors configured to detect inventory levels, location, and movement within the supply chain, a central database connected to the sensors and configured to collect and store inventory data in real-time, a user interface configured to display inventory levels and location in real-time, and an alert system configured to generate alerts when inventory levels fall below a predetermined threshold or when inventory is moved to an unauthorized location.
[0020] According to an aspect, the sensors are selected from the group consisting of RFID sensors, barcode scanners, and weight sensors.
[0021] According to an aspect, the central database is hosted on a cloud-based server. The central database is configured to use real-time inventory data to fulfill orders and track order status.
[0022] According to an aspect, the user interface is accessed via a web-based dashboard or a mobile application.
[0023] According to an aspect, the alert system is configured to send alerts via email, text message, or other communication channel.
[0024] According to an aspect, the system further comprising a demand forecasting system integrated with the central database, wherein the demand forecasting system uses historical sales data and other relevant data to predict future demand for each product.
[0025] According to an aspect, the central database is configured to adjust inventory levels in real-time based on the predicted demand.
[0026] According to an aspect, the system further comprising an order management system integrated with the central database, wherein the order management system allows users to place orders for products directly through the system.
[0027] These and other features will become apparent from the following detailed description of illustrative embodiments thereof, which is to be read in connection with the accompanying drawings. While the invention has been described and shown with reference to the preferred embodiment, it will be apparent that variations might be possible that would fall within the scope of the present invention.
BRIEF DESCRIPTION OF DRAWINGS
[0028] So that the manner in which the above-recited features of the present invention can be understood in detail, a more particular description of the invention, briefly summarized above, may have been referred by embodiments, some of which are illustrated in the appended drawings. It is to be noted, however, that the appended drawings illustrate only typical embodiments of this invention and are therefore not to be considered limiting of its scope, for the invention may admit to other equally effective embodiments.
[0029] These and other features, benefits, and advantages of the present invention will become apparent by reference to the following text figure, with like reference numbers referring to like structures across the views, wherein: Figures attached: N.A.
DETAILED DESCRIPTION OF THE INVENTION
[0030] While the present invention is described herein by way of example using embodiments and illustrative drawings, those skilled in the art will recognize that the invention is not limited to the embodiments of drawing or drawings described and are not intended to represent the scale of the various components. Further, some components that may form a part of the invention may not be illustrated in certain figures, for ease of illustration, and such omissions do not limit the embodiments outlined in any way. It should be understood that the drawings and the detailed description thereto are not intended to limit the invention to the particular form disclosed, but on the contrary, the invention is to cover all modifications, equivalents, and alternatives falling within the scope of the present invention as defined by the appended claim.
[0031] As used throughout this description, the word "may" is used in a permissive sense (i.e. meaning having the potential to), rather than the mandatory sense, (i.e. meaning must). Further, the words "a" or "an" mean "at least one” and the word “plurality” means “one or more” unless otherwise mentioned. Furthermore, the terminology and phraseology used herein are solely used for descriptive purposes and should not be construed as limiting in scope. Language such as "including," "comprising," "having," "containing," or "involving," and variations thereof, is intended to be broad and encompass the subject matter listed thereafter, equivalents, and additional subject matter not recited, and is not intended to exclude other additives, components, integers, or steps. Likewise, the term "comprising" is considered synonymous with the terms "including" or "containing" for applicable legal purposes. Any discussion of documents acts, materials, devices, articles, and the like are included in the specification solely for the purpose of providing a context for the present invention. It is not suggested or represented that any or all these matters form part of the prior art base or were common general knowledge in the field relevant to the present invention.
[0032] In this disclosure, whenever a composition or an element or a group of elements is preceded with the transitional phrase “comprising”, it is understood that we also contemplate the same composition, element, or group of elements with transitional phrases “consisting of”, “consisting”, “selected from the group of consisting of, “including”, or “is” preceding the recitation of the composition, element or group of elements and vice versa.
[0033] The present invention is described hereinafter by various embodiments with reference to the accompanying drawing, wherein reference numerals used in the accompanying drawing correspond to the like elements throughout the description. This invention may, however, be embodied in many different forms and should not be construed as limited to the embodiment set forth herein. Rather, the embodiment is provided so that this disclosure will be thorough and complete and will fully convey the scope of the invention to those skilled in the art. In the following detailed description, numeric values and ranges are provided for various aspects of the implementations described. These values and ranges are to be treated as examples only and are not intended to limit the scope of the claims. In addition, several materials are identified as suitable for various facets of the implementations.
[0034] The present invention relates generally to supply chain management, and more particularly to a system for real-time tracking and monitoring of inventory in a supply chain.
[0035] The system for real-time tracking and monitoring of inventory in a supply chain, includes a plurality of sensors configured to detect inventory levels, location, and movement within the supply chain, a central database connected to the sensors and configured to collect and store inventory data in real-time, a user interface configured to display inventory levels and location in real-time, and an alert system configured to generate alerts when inventory levels fall below a predetermined threshold or when inventory is moved to an unauthorized location.
[0036] According to an aspect, the sensors are selected from the group consisting of RFID sensors, barcode scanners, and weight sensors.
[0037] According to an aspect, the central database is hosted on a cloud-based server. The central database is configured to use real-time inventory data to fulfill orders and track order status.
[0038] According to an aspect, the user interface is accessed via a web-based dashboard or a mobile application.
[0039] According to an aspect, the alert system is configured to send alerts via email, text message, or other communication channel.
[0040] According to an aspect, the system further comprising a demand forecasting system integrated with the central database, wherein the demand forecasting system uses historical sales data and other relevant data to predict future demand for each product.
[0041] According to an aspect, the central database is configured to adjust inventory levels in real-time based on the predicted demand.
[0042] According to an aspect, the system further comprising an order management system integrated with the central database, wherein the order management system allows users to place orders for products directly through the system.
[0043] The present invention is a system and method for real-time tracking and monitoring of inventory in a supply chain. The system includes a plurality of sensors that are placed throughout the supply chain, such as in warehouses, trucks, and retail locations. The sensors can be any type of sensor capable of detecting inventory levels, such as RFID sensors, barcode scanners, or weight sensors.
[0044] The sensors are connected to a central database that collects data on inventory levels, location, and movement in real-time. The database can be hosted on a cloud-based server or on-premises server. The database can be configured to store data on inventory levels for each product, as well as the location of each product within the supply chain.
[0045] The system includes a user interface that allows users to access real-time inventory data. The user interface can be accessed via a web-based dashboard or a mobile application. The user interface displays inventory levels for each product in real-time, as well as the location of each product within the supply chain.
[0046] The system can also generate alerts when inventory levels fall below a predetermined threshold or when inventory is moved to an unauthorized location. The alerts can be sent via email, text message, or other communication channel. The system can also be configured to automatically reorder products when inventory levels fall below a certain threshold.
[0047] In one embodiment, the system is integrated with a demand forecasting system. The demand forecasting system uses historical sales data and other relevant data to predict future demand for each product. The system can then use this data to adjust inventory levels in real-time, ensuring that the right products are available when and where they are needed.
[0048] In another embodiment, the system is integrated with an order management system. The order management system allows users to place orders for products directly through the system. The system can then use real-time inventory data to fulfill orders and track order status.
[0049] The system and method provide a number of benefits, including increased efficiency in inventory management, improved accuracy in inventory tracking, and reduced risk of stockouts and overstocking.
[0050] While the foregoing describes various embodiments of the invention, other and further embodiments of the invention may be devised without departing from the basic scope thereof. The scope of the invention is determined by the claims that follow. The invention is not limited to the described embodiments, versions or examples, which are included to enable a person having ordinary skill in the art to make and use the invention when combined with information and knowledge available to the person having ordinary skill in the art.
[0051] Thus, the scope of the present disclosure is defined by the appended claims and includes both combinations and sub-combinations of the various features described hereinabove as well as variations and modifications thereof, which would occur to persons skilled in the art upon reading the foregoing description.
, Claims:I/We Claim:
1. A system for real-time tracking and monitoring of inventory in a supply chain, comprising:
a plurality of sensors configured to detect inventory levels, location, and movement within the supply chain;
a central database connected to the sensors and configured to collect and store inventory data in real-time;
a user interface configured to display inventory levels and location in real-time; and
an alert system configured to generate alerts when inventory levels fall below a predetermined threshold or when inventory is moved to an unauthorized location.
2. The system of claim 1, wherein the sensors are selected from the group consisting of RFID sensors, barcode scanners, and weight sensors.
3. The system of claim 1, wherein the central database is hosted on a cloud-based server.
4. The system of claim 1, wherein the user interface is accessed via a web-based dashboard or a mobile application.
5. The system of claim 1, wherein the alert system is configured to send alerts via email, text message, or other communication channel.
6. The system of claim 1, further comprising a demand forecasting system integrated with the central database, wherein the demand forecasting system uses historical sales data and other relevant data to predict future demand for each product.
7. The system of claim 6, wherein the central database is configured to adjust inventory levels in real-time based on the predicted demand.
8. The system of claim 1, further comprising an order management system integrated with the central database, wherein the order management system allows users to place orders for products directly through the system.
9. The system of claim 8, wherein the central database is configured to use real-time inventory data to fulfill orders and track order status.

Dated this 25th day of March, 2023

POOJA
AGENT FOR THE APPLICANT
IN/PA/1838