Patent ID: 8234149
Filing Date: 2012-07-31
Classification: G06Q

Abstract:
1. A computer implemented method for tracking production in a given Constant Work In Process (CONWIP) product flow against demand associated with a plurality of orders in the product flow said method comprising the steps of: (i) determining when a Virtual Queue has an overabundance of shop orders for a product flow thereby generating a first electronic signal indicating a need for more capacity; (ii) detecting when the Virtual Queue has an insufficient number of shop orders in the product flow thereby generating a second electronic signal indicating a condition of over capacity; (iii) determining overall probability of shortage for a set of associated demands for the product flow; (iv) determining expected inventory-days for each of the plurality of orders in the product flow; (v) displaying output showing one of the probability of shortage and total expected inventory-days versus a specified parameter for managing production inventory; (vi) determining a probability distribution of finish times for all orders in the flow; (vii) determining a probability distribution of associated demand time for at least one of the plurality of orders in the flow; (viii) determining a probability of shortage for the at least one associated demand based at least in part on both probability distributions; and (ix) displaying an output showing an overall probability of shortage for at least one set of associated demands versus a specified parameter; wherein each of the steps (i) to (ix) are performed by a computer.