The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Feb. 11, 2014
Filed:
Mar. 12, 2008
John E. Krech, Eagan, MN (US);
John E. Krech, Eagan, MN (US);
Ephiphony, Inc., Eagan, MN (US);
Abstract
Prior art methods base inventory management on maximizing cost. The present invention shifts the focus to maximizing economic profit, taking income tax into account. Systems and methods are provided for digitally calculating an economic profit quantity that maximizes economic profit, defined as the excess of net operating income over capital charge, as well as the corresponding values of economic profit and recommended safety stock. Methods are provided for utilizing the economic profit quantity and associated recommended safety stock quantity for automatically placing orders, for choosing among suppliers, and for calculating space requirements.