Patent ID: 8224720

Claim:
A computer-based method for tracking inventory, the method comprising: receiving information associated with a product, wherein the information comprises an on-hand inventory quantity of the product and a total sales quantity of the product for a designated period of time for an entity; determining whether the on-hand inventory quantity satisfies a first threshold and the total sales quantity of the product for the designated period of time satisfies a second threshold, the first threshold being at least one and the second threshold being zero, wherein the determination is performed by a processor; selecting the entity via the processor when it is determined that the on-hand inventory quantity satisfies the first threshold and the total sales quantity of the product for the designated period of time satisfies the second threshold; and sending a notification via the processor when the entity is selected, wherein the notification indicates at least one of possible product misplacement, possible product theft, and that the on-hand inventory quantity may be incorrect.