Automated inventory management including blockchain smart contracting
Various embodiments each include at least one of systems, methods, software, and data structures for automated inventory management including blockchain smart contracting. One such embodiment in the form of a method includes maintaining a database of products available for purchase from vendors, receiving a data representation of a purchase request for a desired product from a buying entity, and finding a match between the purchase request and vendor of the desired product. This method may then generate a data representation of a contract between the buying entity and the vendor of the match followed by generating a hash of the data representation of the contract and adding the data representation of the contract and the generated hash to a blockchain data structure. A copy of the block chain data structure may then be stored and forwarded to at least each of the contracting parties.
1. A method comprising:
maintaining a database of products available for purchase from vendors, the database including a plurality of blockchain data structures defining the products available for purchase;
receiving a data representation of a purchase request for a desired product from a buying entity;
finding a match between the purchase request and vendor of the desired product;
generating a data representation of a contract between the buying entity and the vendor of the match;
generating a hash of the data representation of the contract;
adding the data representation of the contract and the generated hash to a blockchain data structure; and
storing a copy of the blockchain data structure.
2. The method of claim 1 , wherein identifying the match includes identifying a closest match based on a closest match algorithm.
3. The method of claim 1 , wherein the database of products available for purchase from vendors includes data representations of at least one of quantity, availability, and pricing, sale, and shipping terms.
4. The method of claim 3 , wherein the data representation of the purchase request further includes data identifying a quantity of the desired product, and at least one of pricing, purchase, and shipping terms.
5. The method of claim 4 , wherein the terms of the contract are set according to a quantity of the product being conveyed and pricing, sale, and shipping terms of the matching.
6. The method of claim 1 , wherein the purchase request is received via a network.
7. The method of claim 1 , further comprising:
sending, via a network, a copy of the blockchain data structure to at least each party that is privy to the contract.
8. The method of claim 1 , wherein the purchase request is received from a monitor process that monitors inventory of the desired product of the purchase request and automatically generates the purchase request when the inventory level reaches a defined restock level.
9. The method of claim 8 , wherein the monitor process is executed by the same system that performs the method.
10. A method comprising:
finding a vendor match between a purchase request from a buying entity for a desired product available from a plurality of vendors as represented in data stored in a database and a vendor, the database including a plurality of blockchain data structures defining the products available for purchase;
generating a data representation of a contract between the buying entity and the vendor;
storing a blockchain data structure including the data representation of the contract and a generated hash of the contract; and
forwarding the blockchain data structure to at least the buying entity and the vendor over a network.
11. The method of claim 10 , further comprising:
receiving, via a network, a document related to the contract from a third party;
adding a block to the blockchain data structure including a hash of the preceding block, the document related to the contract, and a hash of generated based on a form of both the hash of the preceding block and the document related to the contract;
storing the blockchain data structure; and
forwarding the blockchain data structure to at least the buying entity and the vendor over the network.
12. The method of claim 11 , document related to the contract from the third party is a shipping document.
13. The method of claim 11 , wherein the document related to the contract from the third party is related to a contract payment.
14. The method of claim 10 , wherein:
the database of products available for purchase from vendors includes data representations of at least one of quantity, availability, and pricing, sale, and shipping terms; and
the data representation of the purchase request further includes data identifying a quantity of the desired product, and at least one of pricing, purchase, and shipping terms.
15. The method of claim 14 , wherein the terms of the contract are set according to a quantity of the product being conveyed and pricing, sale, and shipping terms of the matching.
16. A system comprising:
a network interface device;
a database storing data of products available for purchase from vendors as received via the network interface device from respective vendors, the database including a plurality of blockchain data structures defining the products available for purchase;
a processing unit;
a memory device storing instructions executable by the processing unit to perform data processing activities comprising:
receiving, via the network interface device, a data representation of a purchase request for a desired product from a buying entity,
finding a match between the purchase request and vendor of the desired product;
generating a data representation of a contract between the buying entity and the vendor of the match;
generating a hash of the data representation of the contract;
adding the data representation of the contract and the generated hash to a blockchain data structure; and
storing, on the memory device, a copy of the blockchain data structure.
17. The system of claim 16 , wherein identifying the match includes identitying a closest match based on a closest match algorithm.
18. The system of claim 17 , wherein:
the database of products available for purchase from vendors includes data representations of at least one of quantity, availability, and pricing, sale, and shipping terms;
the data representation of the purchase request further includes data identifying a quantity of the desired product, and at least one of pricing, purchase, and shipping terms; and
the terms of the contract are set according to a quantity of the product being conveyed and pricing, sale, and shipping terms of the matching.
19. The system of claim 16 , further comprising:
sending, via the network interface device, a copy of the blockchain data structure to at least each party that is privy to the contract.
20. The system of claim 16 , wherein:
the purchase request is received from a monitor process that monitors inventory of the desired product of the purchase request and automatically generates the purchase request when the inventory level reaches a defined restock level; and
the monitor process is executed by the system.