18513580. UPSTREAM VISIBILITY IN SUPPLY-CHAIN simplified abstract (International Business Machines Corporation)

UPSTREAM VISIBILITY IN SUPPLY-CHAIN

Organization Name

International Business Machines Corporation

Inventor(s)

Elisabeth Claire Paulson of Cambridge MA (US)

Ashish Jagmohan of Irvington NY (US)

Ajay Ashok Deshpande of White Plains NY (US)

Pavithra Harsha of White Plains NY (US)

Ali Koc of White Plains NY (US)

Krishna Chaitanya Ratakonda of Yorktown Heights NY (US)

Ramesh Gopinath of Millwood NY (US)

UPSTREAM VISIBILITY IN SUPPLY-CHAIN - A simplified explanation of the abstract

This abstract first appeared for US patent application 18513580 titled 'UPSTREAM VISIBILITY IN SUPPLY-CHAIN

Simplified Explanation

The abstract describes a patent application related to a retailer node acquiring inventory data from a supplier node over a blockchain network, generating an order distribution policy based on this data, and executing a smart contract to order goods from the supplier node.

• Acquiring inventory data from a supplier node
• Receiving outstanding orders data of the supplier node
• Generating an order distribution policy based on inventory and orders data
• Executing a smart contract to order goods from the supplier node

Potential Applications

This technology could be applied in supply chain management, inventory control, and automated ordering systems.

Problems Solved

This technology streamlines the ordering process, improves inventory management, and enhances communication between retailers and suppliers.

Benefits

The benefits of this technology include increased efficiency, reduced errors in ordering, and improved decision-making based on real-time data.

Potential Commercial Applications

"Blockchain-based Automated Ordering System for Retailers"

Possible Prior Art

There may be prior art related to blockchain-based supply chain management systems or automated ordering systems.

Unanswered Questions

1. How does this technology handle changes in inventory or orders in real-time? 2. What security measures are in place to protect the data exchanged between retailer and supplier nodes over the blockchain network?

Original Abstract Submitted

An example operation may include one or more of acquiring, by a retailer node, an inventory data from a supplier node over a blockchain network, receiving, by the retailer node, outstanding orders data of the supplier node, generating, by the retailer node, an order distribution policy based on the inventory data and the outstanding orders data, and executing a smart contract to order goods from the supplier node based on the ordering policy.