System and method for enhancing supply chain transactions
A system and method for processing particulars of a transaction over a network. The system comprises a supply chain tracking module for receiving supply chain event data from at least one supply chain monitor, the supply chain data relating to the condition or location of an item along a supply chain. The system also comprises a term and requirements module for receiving initial terms and requirements associated with the transaction and for generating modified terms and requirements based on supply chain event data and on at least one value algorithm, the modified terms and requirements being generated while the item is still in the supply chain.
1. A system for processing particulars of a transaction over a network, comprising:
a supply chain tracking processor for receiving supply chain event data from at least one supply chain monitor, the supply chain data relating to the condition or location of an item along a supply chain; and
a term and requirements processor for receiving initial commercial terms and requirements associated with the transaction and for generating modified commercial terms and requirements based on supply chain event data and on at least one value algorithm, the modified commercial terms and requirements being generated while the item is still in the supply chain and wherein the modified terms and requirements result in: (1) a partial or complete settlement of the transaction, or (2) change to the valuation of the transaction or the item.
2. The system of claim 1 wherein the supply chain event data comprises a condition or location of item in the supply chain.
3. The system of claim 1 wherein the at least one supply chain monitor comprises a third party logistics provider.
4. The system of claim 1 further comprising a settlement processor for settling the transaction based on the modified terms and requirements.
5. The system of claim 4 wherein settlement comprises partial settlement of the transaction.
6. The system of claim 1 wherein the modified terms and requirements comprise a change in price of the transaction.
7. The system of claim 1 further comprising an insurance processor for obtaining insurance for the transaction based on the supply chain event data.
8. The system of claim 1 further comprising a payment processor for making payment on the transaction.
9. The system of claim 1 wherein the item comprises a perishable good or product.
10. A method for processing supply chain transactions, comprising:
receiving initial commercial terms and requirements associated with a transaction;
receiving supply chain data from at least one supply chain monitor, the supply chain data relating to the condition or location of an item along a supply chain; and
generating, using a processor, revised commercial terms and requirements by modifying the initial commercial terms and requirements based on supply chain event data and on at least one value algorithm while the item is still in the supply chain, wherein the revised terms and requirements result in: (1) a partial or complete settlement of the transaction, or (2) change to the valuation of the transaction or the item.
11. The method of claim 10 further comprising the step of settling at least part of the transaction based on the supply chain data.
12. The method of claim 11 wherein settlement comprises partial settlement of the transaction.
13. The system of claim 10 wherein the modified terms and requirements comprise a change in price of the transaction.
14. The system of claim 1 wherein the supply chain event data comprises a condition or location of the item in the supply chain.
15. The system of claim 1 wherein the item comprises a perishable good or product.
16. A system for processing particulars of a transaction over a network, comprising:
supply chain tracking means for receiving supply chain event data from at least one supply chain monitor, the supply chain data relating to the condition or location of an item along a supply chain;
term and requirements means for receiving initial commercial terms and requirements associated with the transaction and for modifying the initial commercial terms and requirements based on supply chain event data, and wherein the modified commercial terms and requirements result in: (1) a partial or complete settlement of the transaction, or (2) change to the valuation of the transaction or the item; and
settlement means for settling the transaction based on the modified terms and requirements.
17. The system of claim 1 wherein the supply chain event data comprises a condition or location of item in the supply chain.
18. The system of claim 1 wherein the at least one supply chain monitor comprises a third party logistics provider.
19. The method of claim 11 wherein settlement comprises partial settlement of the transaction.
20. The system of claim 1 wherein the item comprises a perishable good or product.
21. A method for processing supply chain transactions, comprising:
receiving initial commercial terms and requirements associated with a transaction, wherein the transaction comprises a product or good moving through a supply chain;
receiving supply chain data from at least one supply chain monitor, the supply chain data relating to the condition or location of the product or good along the supply chain, wherein the at least one supply chain monitor comprises a third party logistics provider;
generating, using a processor, revised commercial terms and requirements by modifying the initial commercial terms and requirements based on supply chain event data and on at least one value algorithm while the product or good is still in the supply chain wherein the modified commercial terms and requirements comprise a change in price of the transaction or item or results in a partial or complete settlement of the transaction;
settling at least part of the transaction based on the supply chain data, wherein settlement comprises partial settlement of the transaction.