Inventory monitoring system

Abstract

An inventory monitoring system. The inventory monitoring system includes a cabinet. The cabinet is configured to store the item and is in electronic communication with a terminal. The cabinet dispenses an item in response to the sale and records the removal of the item. The inventory monitoring system also includes a terminal, wherein the terminal is configured to allow a user to enter a sale of an item.

Description

CROSS-REFERENCE TO RELATED APPLICATIONS[0001]This application claims the benefit of and priority to U.S. Provisional Patent Application Ser. No. 61 / 883,038 filed on Sep. 26, 2014, which application is incorporated herein by reference in its entirety.[0002]This application is related to co-pending U.S. patent application Ser. No. ______, filed on Sep. 25, 2014 (Attorney Docket No. 10433.2), and entitled, “INVENTORY CONTROL SYSTEM”, which application is incorporated herein by reference in its entirety.BACKGROUND OF THE INVENTION[0003]Control of inventory within the service industry is a continual problem. In particular, a lot of item can be moved very quickly and transactions are difficult to monitor. This presents many situations where employees can lose track of items or where employees can steal items or gift them without any ability of owners or manager to identify sources of loss unless they happen to view the theft.[0004]In addition, inventory in particular locations is hard to ...

AI Technical Summary

Benefits of technology

The patent describes an inventory monitoring system that includes a cabinet and a terminal in electronic communication. The system can dispense items and record their removal or sale. The system uses a point of sale server to manage inventory and can update the inventory list to reflect sales. The technical effect of the invention is to provide a system for monitoring inventory and sales in real-time, which can help improve inventory management and make the sales process more efficient.

Problems solved by technology

Control of inventory within the service industry is a continual problem.

In particular, a lot of item can be moved very quickly and transactions are difficult to monitor.

This presents many situations where employees can lose track of items or where employees can steal items or gift them without any ability of owners or manager to identify sources of loss unless they happen to view the theft.

In addition, inventory in particular locations is hard to keep track of.

This means that either an authorized employee must continually be checking inventory and restocking where needed or employees must be counted on to accurately report inventory, once again opening the system up to potential fraud.

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