Automated reconciliation system

5372386
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Inventors

Mills, William B.

Application #

195637

Filed

Feb-15-1994

Published

Dec-13-1994

Current US Class

235/385
283/103
283/105
283/67
340/5.4
340/5.8
340/5.9

International Classes

B42D 015/00

Field of Search

283/67 283/70 283/94 283/100 283/101 283/103 283/105 283/72 235/375 235/385 235/449 340/825.34

Examiners

Seidel; Richard K.

Attorney, Agent or Firm

Barlow & Barlow, Ltd.

US Patent References

4816824   Merchandise verifi...
4836378   Package having m...

Referenced by:

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Citation

Cite This Patent

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Abstract
An automated reconciliation system that permits instantaneous reconciliation of unsold product units. A pull tab, which contains hidden reconciliation data is affixed to a product unit. To reconcile the particular product unit, a vendor removes the pull tab strip thereby defacing and destroying the product unit to expose the reconciliation data needed for entry into a central computer system. Alternatively, concealed reconciliation data may be printed directly on the product or its packaging in a fashion which requires the product to be opened to expose the reconciliation data. Such an opened condition, with a broken seal or opened wrapping, renders the product unsaleable. The automated reconciliation system ensures that unsold product units which receive reconciliation credit and reimbursement are not fraudulently resold.
 
Claims
I claim:

1. A method of reconciling a product unit, comprising the steps of:

affixing a sheet of material to a product unit with hidden data disposed between said sheet of material and said product unit;

separating said sheet of material from said product unit;

defacing said product unit to render it unsaleable;

exposing said hidden data;

entering said hidden data into a computer;

confirming validity of said hidden data; and

providing reconciliation credit for entry of valid hidden data.

2. The method of claim 1, further comprising the steps of:

entering batch data information assigned to a group of product units; and



Description
BACKGROUND OF THE INVENTION

The present invention relates generally to an automated reconciliation system. More specifically, the present invention relates to a system for the reconciliation by a retail or wholesale vendor of products which have become unsaleable due to their passing date of expiration, or by their lack of popularity with consumers. Such items include publications, foodstuffs, tobacco products, paper goods, drugs and electronic media.

In the consumer products industry, goods are typically sold at discounted price and distributed from manufacturer to retail vendor, with title to the goods passing to the vendor. An exception to this is the publishing industry, where newspapers, magazines, and paperback books are typically sold on a consignment basis by the vendor. A vendor of publications must go through a reconciliation process with the publisher to be reimbursed for unsold copies.

This reconciliation process is common for vendors of daily newspapers. Typically, at the end of the day, a vendor has a number of unsold copies remaining. The masthead off of the front of each unsold newspaper must be cut or torn off and mailed back to the publisher for reimbursement. It is not uncommon for a newspaper publisher, for example, to receive thousands of torn mastheads every day requiring manual reconciliation. This known system of reconciliation of publications requires the publisher, or intermediary wholesaler or distributor, to employ large numbers of customer service and accounting personnel for tabulating and reconciling torn mastheads and the like. As a result, it often takes weeks before the vendor is reimbursed for the unsold publications. Further, vendors typically order only what they are sure they will sell due to the tedious reconciliation process and the significant delays in reimbursement.
 
  An automated reconciliation system that permits instantaneous reconciliation of unsold publications. A pull tab, which contains hidden reconciliation data...  A promotional note page includes a first page portion having space for writing notes, a second page portion in the form of a business card, and a separation...