Target has filed a patent for a system and method that prioritizes specific items for overseas transport. The system allows for input of enterprise priorities, generates a prioritization of items in pending purchase orders, and assigns them to different tiers based on handling and shipment prioritization. The system also calculates a dynamic lead time and risk factor. The patent claims a method of managing prioritization of overseas imports by receiving shipping priorities, applying business rules, generating prioritized shipment tiers, transmitting information to an overseas transportation management system, and scheduling carriers accordingly. GlobalData’s report on Target gives a 360-degree view of the company including its patenting strategy. Buy the report here.
Smarter leaders trust GlobalData
According to GlobalData’s company profile on Target, treatment progress monitoring was a key innovation area identified from patents. Target's grant share as of September 2023 was 86%. Grant share is based on the ratio of number of grants to total number of patents.
Method for managing prioritization of overseas imports
A recently filed patent (Publication Number: US20230316214A1) describes a method and system for managing the prioritization of overseas imports. The method involves receiving a shipping priority from planning systems within an enterprise and applying business rules to pending purchase orders issued to overseas vendors. This allows for the determination of an overall prioritization of the items to be imported. A set of prioritized shipment tiers is generated based on these business rules, and the information is automatically transmitted to an overseas transportation management system. The system then schedules overseas carriers for the shipment of the items to the enterprise, ensuring that the carriers are scheduled in accordance with the prioritized shipment information.
The patent also describes additional features of the method and system. It includes the ability to receive dynamic shipment status data associated with the items from electronic data interchange transaction tables. This data is consolidated, enriched with additional data from various enterprise systems, and parsed per purchase order. Based on this consolidated shipment status data, a dynamic lead time and dynamic projected arrival date are automatically calculated. A dynamic risk factor is also calculated, indicating the likelihood that the items will not reach the enterprise by a predetermined goal date. A dynamic user interface is generated to display this risk factor.
The method and system further allow for the determination of a second set of prioritized shipment tiers if the dynamic risk factor indicates that the items will not reach the enterprise by the goal date. This second set of tiers is based on the business rules and the determination. Notifications can be automatically generated and transmitted to users within the enterprise, providing information such as the dynamic risk factor, dynamic lead time, and dynamic projected arrival date.
Overall, this patent presents a comprehensive method and system for managing the prioritization of overseas imports. By incorporating dynamic shipment status data and calculating risk factors, it aims to improve the efficiency and accuracy of scheduling and delivery of imported items.
To know more about GlobalData’s detailed insights on Target, buy the report here.
Data Insights
From
The gold standard of business intelligence.
Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.
GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
