Walmart had seven patents in blockchain during Q4 2023. Walmart Inc filed patents in Q4 2023 for methods and systems related to invoice adjustment, controlled data sharing in a supply chain distributed ledger, product certification management, and determining item mortality based on tracked environmental conditions during transit. These patents aim to improve efficiency, transparency, and accuracy in supply chain operations, including adjusting invoices based on shipment events data, securely sharing contract and purchase order information, verifying certifications for transactions, and predicting item mortality using sensor data and blockchain technology. GlobalData’s report on Walmart gives a 360-degreee view of the company including its patenting strategy. Buy the report here.
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Walmart grant share with blockchain as a theme is 42% in Q4 2023. Grant share is based on the ratio of number of grants to total number of patents.
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Application: Systems and methods for invoice adjustment in supply chains (Patent ID: US20230401525A1)
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The patent filed by Walmart Inc. describes methods and systems for invoice adjustment in the context of transportation of goods by a carrier for a purchaser. The system involves accessing contract details, receiving shipment events data that impact transportation charges, calculating adjustments to the price based on this data, generating an adjusted invoice, and adding it to a supply chain distributed ledger accessible to both the purchaser and the carrier. The system also includes features such as cost split calculations for goods in containers, adjustments based on detention or demurrage charges, and the ability to add images of goods to the ledger.
Furthermore, the method outlined in the patent involves similar steps as the system, including accessing contract contents, receiving shipment events data, calculating adjustments to the price, generating an invoice, and adding it to the supply chain distributed ledger. Additional features of the method include cost split calculations for goods in containers, adjustments based on detention or demurrage charges, and the ability to add images of goods to the ledger. The method also includes steps for detecting charges exceeding contractual rates, receiving approval from both the purchaser and carrier before recording the invoice, and calculating adjustments based on smart contract rules in the ledger.
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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.
