Patent ID: 8234139
Filing Date: 2012-07-31
Classification: G06Q

Abstract:
1. A method of manufacturing a product comprising: receiving, at a server, a formulation specification, wherein the formulation specification comprises a plurality of ingredients for the product and technical requirements; receiving, at the server, cost information for the ingredients; receiving, at the server, inventory information for the ingredients; generating, at the server, a least cost formulation for the product based on the formulation specification, cost information and inventory information; wherein the generating the least cost formulation comprises minimizing a linear function; wherein the minimized linear function comprises a plurality of quantities for a plurality of ingredients; fetching, at the server, at least two inventory lots for each quantity in order to form each quantity, wherein the at least two inventory lots have an associated cost that is based on a purchase date; determining, at the server, whether the cost of the at least two inventory lots falls within a generated cost range; verifying, at the server, that technical attributes of the at least two inventory lots match the technical requirements of the formulation specification; after the linear function is minimized, recalculating, at the server, the least cost formulation when the technical attributes of the at least two inventory lots do not match the technical requirements of the formulation specification; and after the linear function is minimized, recalculating, at the server, the least cost formulation when the cost of the at least two inventory lots does not fall within the generated cost range.