WO2002048937A1 - Bulk purchase business system and method - Google Patents

Bulk purchase business system and method Download PDF

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Publication number
WO2002048937A1
WO2002048937A1 PCT/SG2001/000252 SG0100252W WO0248937A1 WO 2002048937 A1 WO2002048937 A1 WO 2002048937A1 SG 0100252 W SG0100252 W SG 0100252W WO 0248937 A1 WO0248937 A1 WO 0248937A1
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WO
WIPO (PCT)
Prior art keywords
bulk
goods
services
tender
purchase
Prior art date
Application number
PCT/SG2001/000252
Other languages
French (fr)
Inventor
Song Lee
Wee Tat Yeo
Original Assignee
Cesma International Pte Ltd.
Priority date (The priority date is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the date listed.)
Filing date
Publication date
Application filed by Cesma International Pte Ltd. filed Critical Cesma International Pte Ltd.
Priority to AU2002222888A priority Critical patent/AU2002222888A1/en
Publication of WO2002048937A1 publication Critical patent/WO2002048937A1/en

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Classifications

    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
    • G06Q40/04—Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Definitions

  • the present invention relates to a business - to - business - to - consumer (B2B2C) bulk purchase business system and method and relates particularly, though not exclusively, to such a system and method implemented via a B2B2C Internet portal.
  • B2B2C business - to - business - to - consumer
  • the present invention was developed with a view to providing a method and system of bulk purchasing of goods and services that allows consumers abstract or other business entities to procure goods or services at bulk purchase prices normally only available to large business entities.
  • the term "comprising" is used inclusively, in the sense that there may be other features and/or steps included in the invention not expressly defined or comprehended in the features or steps subsequently defined or described. What such other features and/or steps may include will be apparent from the specification read as a whole.
  • a method of bulk purchasing of goods or services using a computer network comprising the steps of:
  • said bulk purchase tender including a specification of a confirmed quantity of goods or services that the first entity requires to purchase, as well as an optional quantity of goods or services that a successful supplier will need to supply at substantially the same price as the confirmed quantity; .
  • said first entity is a business entity and said other entities are other business entities and/or consumers.
  • details of said bulk purchase contract are made available to other entities over said computer network.
  • said step of creating a bulk purchase tender includes specifying a tender start date and time and a tender end date and time.
  • an original tender end date and time can be extended, in the event that a bid is received prior to the original end time and after a predetermined time prior to the original end time.
  • the end time is extended by a predetermined interval of time specified during the creation of the tender.
  • requests from other business entities and/or consumers to participate in the bulk purchase contract can be accepted within a predetermined validity period.
  • said validity period is specified during the creation of the tender.
  • the method further comprises the step of levying a commission for the confirmed goods or services purchased.
  • a commission is also levied for the optional quantities of goods or services purchased.
  • a system of bulk purchasing of goods or services using a computer network comprising;
  • said bulk purchase tender including a specification of a confirmed quantity of goods that the first entity requires to purchase, as well as an optional quantity of goods or services that a successful supplier will need to supply at substantially the same price as the confirmed quantity;
  • said means for creating a bulk purchase tender comprises a tender management software module adapted to produce an electronic tender document suitable for transmission over said computer network.
  • said means for making available the bulk purchase tender and said means for receiving and processing bids comprises an advanced reverse auction engine software module of the system.
  • said tender management module also incorporates said means for awarding the bulk purchase contract to a successful supplier.
  • said means for receiving and processing requests comprises a purchase software module.
  • said tender management software module also includes means for specifying a tender start date and time and a tender end date and time.
  • said tender management module also includes means for extending the original tender end date and time by a predetermined interval of time as specified during the creation of the tender.
  • Figure 1 is a schematic block diagram of a preferred embodiment of the bulk purchase system in accordance with the present invention.
  • Figure 2 is a flow chart of the steps involved in a preferred method of bulk purchasing goods or services in accordance with the system of figure 1.
  • a preferred embodiment of the bulk purchase system 10 as illustrated in Figure 1 comprises four software modules resident on the B2B2C server system, that interact to control the bulk purchase business method via a computer network, such as the Internet.
  • the system 10 uses the Internet as a communication channel to reach out to various entities, including business, consumers, buyers, suppliers and sellers. It comprises a user management module 12 that manages the users as to who can create a bulk purchase tender and who can bid to win the bulk purchase contract.
  • the system also includes a tender management module 14 for creating an electronic bulk purchase tender. It also manages the bidding process and through the use of an advanced reverse auction engine 16 it strives to achieve the best purchase prices for both business entities and consumers.
  • the B2B2C bulk purchase business system 10 allows businesses to bulk purchase their goods and services via the Internet and also allows consumers to "ride on" their bulk purchase contract via the Internet and obtain the same goods and services at reduced prices.
  • the bulk purchase business method allows both parties to benefit.
  • business entity A (identified as 20 in Figure 1) initiates a bulk purchase contract by means of the bulk purchase system 10 and allows other businesses, such as business entity B 22 and/or consumers 24 to "ride on" the same contract that has been awarded to a successful supplier 26. This potentially increases the purchase quantity and as a result business entity A can obtain a better price from the supplier 26. It could also obtain a revenue stream from the sales to other business entities and consumers.
  • User management module 12 ensures that only business users can create a new bulk purchase tender.
  • tender management module 14 ensures that the creator provides the necessary information including a description of the tender, a specification of a "confirmed quantity” that the business entity will be buying, and an "optional quantity” that the successful supplier will need to supply at substantially the same price as the confirmed quantity.
  • the creator also needs to communicate a tender start and end date and time, the possibility of extensions of time and the validity period of the contract when it is awarded.
  • the tender management software module 14 then makes the bulk purchase tender available over the Internet to prospective suppliers. Only business users with "sell access” are permitted to participate in the bidding process by the user management module 12 at step 104 in Figure 2.
  • Authorised suppliers "sellers” then submit bids at 106 between the start and end times specified in the tender under the control of the advanced reverse auction module 16.
  • the tenders original end time can be extended under certain circumstances. If a sellers bid is received prior to the original end time and after a pre-stipulated time prior to the original end time, the tender end time is extended by a predetermined interval of time specified during the creation of the tender. Extensions of the tender end time can continue, so long as bids occur in the time interval described above. However, once the extended end time is reached without further bids having been received, no more bidding is permitted.
  • the reverse auction engine 16 requires the following times to be defined at the creation of the tender: "original end time” (oet), “extended end time” (eet), “time to extend” (tte).
  • the oet and eet are the same at the start of the bidding process (reverse auction).
  • the creator can choose to award the contract to any of the bidders, not necessarily the lowest bidder.
  • the creator can also choose not to award the bulk purchase contract to any bidder.
  • the bulk purchase tender was created at 102 under control of the tender management software module 14, the creator would also have specified the validity period of the contract. This is the period with which other business entities and/or consumers can choose to participate in the bulk purchase contract.
  • the system can levy a commission for the confirmed purchase quantity.
  • a commission can also be levied for the optional quantity after other businesses or consumers have made their orders.
  • the commission can be shared between the operator of the B2B2C bulk purchase system and the initiator of the contract.

Abstract

With present business systems, it is difficult for consumers to benefit from the bulk purchase prices obtained by businesses, and it is difficult for businesses to benefit by allowing consumers to ride on their bulk purchase contracts. The bulk purchase business system and method described allows both parties to benefit. A business can initiate a bulk purchase contract and allow other businesses or consumers to ride on the same contract. The system and method employs Internet technology as a communication channel to reach businesses, consumers, buyers and sellers. A business can initiate a bulk purchase contract and allow other businesses or consumers to 'ride on' the same contract. This potentially increases the purchase quantity. As a result, the business can obtain a better bulk price and it can also obtain a revenue stream from sales to other entities. The bulk purchase system provides the tools for the creation of the tender, bidding, awarding, selling of the same goods and services to other business or consumers, management of the buyers and sellers, the validity period of the contract, and the limit on the optional quantities that can be purchased.

Description

BULK PURCHASE BUSINESS SYSTEM AND METHOD
FIELD OF THE INVENTION
The present invention relates to a business - to - business - to - consumer (B2B2C) bulk purchase business system and method and relates particularly, though not exclusively, to such a system and method implemented via a B2B2C Internet portal.
BACKGROUND TO THE INVENTION
Many companies and other business entities have a need to bulk purchase goods and services in order to conduct their business, for example, a plastics packaging company needs to purchase bulk polyethylene powder or granules for its manufacturing process. Recently, some companies and other business entities have started using the Internet to procure bulk orders from suppliers. Business entities typically purchase goods or services in bulk in order to obtain a reduced price from the supplier, who can offer attractive discounts in view of the quantity ordered. In this way, companies and other large business entities are able to make substantial savings in the purchase of bulk supplies. Consumers are generally not able to obtain the same benefits as businesses because the quantities they order cannot justify the significant discounts offered for bulk purchases. However, it would also benefit business if they could allow consumers to ride on their bulk purchase orders since the quantity of the order can thereby be further increased, resulting in a further reduction in the bulk purchase price.
SUMMARY OF THE INVENTION
The present invention was developed with a view to providing a method and system of bulk purchasing of goods and services that allows consumers abstract or other business entities to procure goods or services at bulk purchase prices normally only available to large business entities. Throughout this specification the term "comprising" is used inclusively, in the sense that there may be other features and/or steps included in the invention not expressly defined or comprehended in the features or steps subsequently defined or described. What such other features and/or steps may include will be apparent from the specification read as a whole.
According to one aspect of the present invention there is provided a method of bulk purchasing of goods or services using a computer network, the method comprising the steps of:
creating a bulk purchase tender for a first entity, said bulk purchase tender including a specification of a confirmed quantity of goods or services that the first entity requires to purchase, as well as an optional quantity of goods or services that a successful supplier will need to supply at substantially the same price as the confirmed quantity; .
making available the bulk purchase tender over said computer network to prospective suppliers;
receiving and processing bids from said prospective suppliers bidding for a bulk purchase contract to supply and sell goods or services in response to said bulk purchase tender;
awarding the bulk purchase contract to a successful supplier;
making available details of said bulk purchase contract to other entities, including details of said optional quantity of goods or services; and,
receiving and processing requests from other entities to participate in said bulk purchase contract by purchasing a quantity of said goods or services not exceeding said optional quantity whereby, in use, other entities can also purchase said goods or services at a reduced price. Typically said first entity is a business entity and said other entities are other business entities and/or consumers. Preferably, details of said bulk purchase contract are made available to other entities over said computer network.
Typically said step of creating a bulk purchase tender includes specifying a tender start date and time and a tender end date and time. Preferably an original tender end date and time can be extended, in the event that a bid is received prior to the original end time and after a predetermined time prior to the original end time. Preferably the end time is extended by a predetermined interval of time specified during the creation of the tender.
Preferably requests from other business entities and/or consumers to participate in the bulk purchase contract can be accepted within a predetermined validity period. Preferably, said validity period is specified during the creation of the tender.
Advantageously the method further comprises the step of levying a commission for the confirmed goods or services purchased. Preferably a commission is also levied for the optional quantities of goods or services purchased.
According to another aspect of the present invention there is provided a system of bulk purchasing of goods or services using a computer network, the system comprising;
means for creating a bulk purchase tender for a first entity, said bulk purchase tender including a specification of a confirmed quantity of goods that the first entity requires to purchase, as well as an optional quantity of goods or services that a successful supplier will need to supply at substantially the same price as the confirmed quantity;
means for making available the bulk purchase tender over said computer network to prospective suppliers; means for receiving and processing bids from said prospective suppliers bidding for a bulk purchase contract to supply and sell goods or services in response to said bulk purchase tenders;
means for awarding the bulk purchase contract to a successful supplier;
means for making available details of said bulk purchase contract to other entities, including details of said optional quantity of goods or services;
means for receiving and processing requests from other entities to participate in said bulk purchase contract by purchasing a quantity of said goods or services not exceeding said optional quantity whereby, in use, other entities can also purchase said goods or services at a reduced price.
Typically said means for creating a bulk purchase tender comprises a tender management software module adapted to produce an electronic tender document suitable for transmission over said computer network.
Preferably said means for making available the bulk purchase tender and said means for receiving and processing bids comprises an advanced reverse auction engine software module of the system. Preferably said tender management module also incorporates said means for awarding the bulk purchase contract to a successful supplier. Preferably said means for receiving and processing requests comprises a purchase software module.
Preferably said tender management software module also includes means for specifying a tender start date and time and a tender end date and time. Preferably said tender management module also includes means for extending the original tender end date and time by a predetermined interval of time as specified during the creation of the tender. BRIEF DESCRIPTION OF THE DRAWINGS
In order to facilitate a better understanding of the nature of the invention, a preferred embodiment of the bulk purchase method and system in accordance with the present invention will now be described in detail, by way of example only, with reference to the accompanying drawings, in which;
Figure 1 is a schematic block diagram of a preferred embodiment of the bulk purchase system in accordance with the present invention; and
Figure 2 is a flow chart of the steps involved in a preferred method of bulk purchasing goods or services in accordance with the system of figure 1.
DETAILED DESCRIPTION OF PREFERRED EMBODIMENT
A preferred embodiment of the bulk purchase system 10 as illustrated in Figure 1 comprises four software modules resident on the B2B2C server system, that interact to control the bulk purchase business method via a computer network, such as the Internet. The system 10 uses the Internet as a communication channel to reach out to various entities, including business, consumers, buyers, suppliers and sellers. It comprises a user management module 12 that manages the users as to who can create a bulk purchase tender and who can bid to win the bulk purchase contract. The system also includes a tender management module 14 for creating an electronic bulk purchase tender. It also manages the bidding process and through the use of an advanced reverse auction engine 16 it strives to achieve the best purchase prices for both business entities and consumers.
The B2B2C bulk purchase business system 10 allows businesses to bulk purchase their goods and services via the Internet and also allows consumers to "ride on" their bulk purchase contract via the Internet and obtain the same goods and services at reduced prices. The bulk purchase business method allows both parties to benefit. For exr.- ple, business entity A (identified as 20 in Figure 1) initiates a bulk purchase contract by means of the bulk purchase system 10 and allows other businesses, such as business entity B 22 and/or consumers 24 to "ride on" the same contract that has been awarded to a successful supplier 26. This potentially increases the purchase quantity and as a result business entity A can obtain a better price from the supplier 26. It could also obtain a revenue stream from the sales to other business entities and consumers.
A preferred method of bulk purchasing goods or services using the system of Figure 1 will now be described with reference to Figure 2. There are typically five main stages in the bulk purchase process:
a. Creation Of Bulk Purchase Tender
User management module 12 ensures that only business users can create a new bulk purchase tender. During the creation of the tender, tender management module 14 ensures that the creator provides the necessary information including a description of the tender, a specification of a "confirmed quantity" that the business entity will be buying, and an "optional quantity" that the successful supplier will need to supply at substantially the same price as the confirmed quantity. The creator also needs to communicate a tender start and end date and time, the possibility of extensions of time and the validity period of the contract when it is awarded.
b. Bidding
The tender management software module 14 then makes the bulk purchase tender available over the Internet to prospective suppliers. Only business users with "sell access" are permitted to participate in the bidding process by the user management module 12 at step 104 in Figure 2. Authorised suppliers "sellers" then submit bids at 106 between the start and end times specified in the tender under the control of the advanced reverse auction module 16. Typically, the tenders original end time can be extended under certain circumstances. If a sellers bid is received prior to the original end time and after a pre-stipulated time prior to the original end time, the tender end time is extended by a predetermined interval of time specified during the creation of the tender. Extensions of the tender end time can continue, so long as bids occur in the time interval described above. However, once the extended end time is reached without further bids having been received, no more bidding is permitted.
The reverse auction engine 16 requires the following times to be defined at the creation of the tender: "original end time" (oet), "extended end time" (eet), "time to extend" (tte). The oet and eet are the same at the start of the bidding process (reverse auction). When a bid falls before the eet by less than the tte, then the eet is extended by tte, ie. If ((eet - tte) <= bid time <= eet) then (eet = eet + tte) Bidding will be allowed to continue as long as the time is before the extended end time.
c. Awarding The Contract
After the bidding ends, the creator can choose to award the contract to any of the bidders, not necessarily the lowest bidder. The creator can also choose not to award the bulk purchase contract to any bidder. When the bulk purchase tender was created at 102 under control of the tender management software module 14, the creator would also have specified the validity period of the contract. This is the period with which other business entities and/or consumers can choose to participate in the bulk purchase contract.
d- Other Business Users And Consumers
During the validity period after the bulk purchase contract has been awarded, other users, including business entities and consumers, can log in to the B2B2C portal at 110 under control of the user management module 12, and can choose to "ride on" the contract in order to buy the goods and services at the bulk purchase price specified in the contract. The quantity of such purchases by other business entities and consumers is limited to the "optional quantity" set by the creator of the tender during the creation of the tender. The purchasing of goods and services by other business entities and consumers is controlled by the purchase module 18.
e. Archive When the validity period expires, the tender is archived and the successful supplier proceeds to fulfil the order(s) specified in the contract. Authorised users can view past tenders via the B2B2C portal, but will not be able to participate in the tender
After the contract has been awarded, the system can levy a commission for the confirmed purchase quantity. A commission can also be levied for the optional quantity after other businesses or consumers have made their orders. The commission can be shared between the operator of the B2B2C bulk purchase system and the initiator of the contract.
From the above description of a preferred embodiment of the bulk purchase system and method, it will be apparent that it provides a number of significant advantages to both businesses and consumers, including the following:
(i) It allows businesses to obtain better prices for their bulk purchases of goods in view of the potentially larger quantities ordered;
(ii) It permits consumers and smaller business entities to "ride on" the bulk purchase contract awarded by larger businesses;
(iii) It enables suppliers to increase the quantity of goods and services sold;
(iv) It provides a potential other source of income through the sale of additional goods and services to other businesses or consumers;
(v) It is flexible and allows businesses to decide on the quantity that other users and/ or consumers can purchase; and
(vi) It manages the bidding process and keeps track of the quantities actually purchased. It will be apparent to persons skilled in the software engineering and business development arts that numerous variations and modifications can be made to the described bulk purchase system and method, in addition to those already described, without departing from the basic inventive concepts. For example, in addition to businesses, consumers may also be allowed to create or initiate a tender. Instead of or in addition to using an advanced reverse auction engine via the Internet to obtain the best prices, other means such as physical auction, closed tender, simple auction or invited quotation can be used. Other buyers can be reached by direct mails, newspapers, television, advertisements or referrals not just by the Internet. All such variations and modifications are to be considered within the scope of the present invention, the nature of which is to be determined from the foregoing description and the appended claims.

Claims

CLAIMS DEFINING THE INVENTION
1. A method of bulk purchasing of goods or services using a computer network, the method comprising the steps of:
creating a bulk purchase tender for a first entity, said bulk purchase tender including a specification of a confirmed quantity of goods or services that the first entity requires to purchase, as well as an optional quantity of goods or services that a successful supplier will need to supply at substantially the same price as the confirmed quantity; •
making available the bulk purchase tender over said computer network to prospective suppliers;
receiving and processing bids from said prospective suppliers bidding for a bulk purchase contract to supply and sell goods or services in response to said bulk purchase tender;
awarding the bulk purchase contract to a successful supplier;
making available details of said bulk purchase contract to other entities, including details of said optional quantity of goods or services; and,
receiving and processing requests from other entities to participate in said bulk purchase contract by purchasing a quantity of said goods or services not exceeding said optional quantity whereby, in use, other entities can also purchase said goods or services at a reduced price.
2. A method of bulk purchasing of goods or services as defined in claim!, wherein said first entity is a business entity and said other entities are other business entities ^nd/or consumers.
3. A method of bulk purchasing of goods or services as defined in claim2, wherein details of said bulk purchase contract are made available to other entities over said computer network.
4. A method of bulk purchasing of goods or services as defined in claiml, wherein said step of creating a bulk purchase tender includes specifying a tender start date and time and a tender end date and time.
5. A method of bulk purchasing of goods or services as defined in claim 4, wherein an original tender end date and time can be extended, in the event that a bid is received prior to the original end time and after a predetermined time prior to the original end time.
6. A method of bulk purchasing of goods or services as defined in claim 5, wherein the end time can be extended by a predetermined interval of time specified during the creation of the tender.
7. A method of bulk purchasing of goods or services as defined in claim 1, wherein requests from other business entities and/or consumers to participate in the bulk purchase contract can be accepted within a predetermined validity period.
8. A method of bulk purchasing of goods or services as defined in claim 7, wherein said validity period is specified during the creation of the tender.
9. A method of bulk purchasing of goods or services as defined in claim 1 , wherein the method further comprises the step of levying a commission for the confirmed goods or services purchased.
10. A method of bulk purchasing of goods or services as defined in claim 9, wherein a commission is also levied for the optional quantities of goods or services purchased.
11. A system of bulk purchasing of goods or services using a computer network, the system comprising;
means for creating a bulk purchase tender for a first entity, said bulk purchase tender including a specification of a confirmed quantity of goods that the first entity requires to purchase, as well as an optional quantity of goods or services that a successful supplier will need to supply at substantially the same price as the confirmed quantity;
means for making available the bulk purchase tender over said computer network to prospective suppliers;
means for receiving and processing bids from said prospective suppliers bidding for a bulk purchase contract to supply and sell goods or services in response to said bulk purchase tenders ;
means for awarding the bulk purchase contract to a successful supplier;
means for making available details of said bulk purchase contract to other entities, including details of said optional quantity of goods or services;
means for receiving and processing requests from other entities to participate in said bulk purchase contract by purchasing a quantity of said goods or services not exceeding said optional quantity whereby, in use, other entities can also purchase said goods or services at a reduced price.
12. A system of bulk purchasing of goods or services as defined in claim 11, wherein, said means for creating a bulk purchase tender comprises a tender management software module adapted to produce an electronic tender document suitable for transmission over said computer network..
13. A system of bulk purchasing of goods or services as defined in claim 12, wherein, said means for making available the bulk purchase tender and said means for receiving and processing bids comprises an advanced reverse auction engine software module of the system.
14. A system of bulk purchasing of goods or services as defined in claim 13, wherein, said tender management module also incorporates said means for awarding the bulk purchase contract to a successful supplier.
15. A system of bulk purchasing of goods or services as defined in claim 14, wherein said means for receiving and processing requests comprises a purchase software module.
16. A system of bulk purchasing of goods or services as defined in claim 11, wherein said tender management software module also includes means for specifying a tender start date and time and a tender end date and time.
17. A system of bulk purchasing of goods or services as defined in claim 16, wherein said tender management module also includes means for extending the original tender end date and time by a predetermined interval of time as specified during the creation of the tender.
PCT/SG2001/000252 2000-12-16 2001-12-13 Bulk purchase business system and method WO2002048937A1 (en)

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Citations (8)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US5077665A (en) * 1989-05-25 1991-12-31 Reuters Limited Distributed matching system
US5794219A (en) * 1996-02-20 1998-08-11 Health Hero Network, Inc. Method of conducting an on-line auction with bid pooling
WO1999039293A1 (en) * 1998-01-29 1999-08-05 Cyberquest, Inc. Method and apparatus for making markets in goods sold over the internet
WO2000051048A2 (en) * 1999-02-22 2000-08-31 Newcogen-Idea One, Inc. Method and system constituting a virtual collective entity for market-efficient retail purchase of goods and services
EP1085439A1 (en) * 1999-09-15 2001-03-21 Hewlett-Packard Company Auction method and apparatus for electronic commerce
WO2001027839A1 (en) * 1999-10-12 2001-04-19 Psi-Ets Request for bid method
WO2001035292A1 (en) * 1999-11-05 2001-05-17 Dataexchange Corporation Procurement system using reverse auction in conjunction with open market
US20010032164A1 (en) * 2000-03-15 2001-10-18 Jaekil Kim Method and apparatus for bi-directional auctioning between buyers and sellers using a computer network

Patent Citations (8)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US5077665A (en) * 1989-05-25 1991-12-31 Reuters Limited Distributed matching system
US5794219A (en) * 1996-02-20 1998-08-11 Health Hero Network, Inc. Method of conducting an on-line auction with bid pooling
WO1999039293A1 (en) * 1998-01-29 1999-08-05 Cyberquest, Inc. Method and apparatus for making markets in goods sold over the internet
WO2000051048A2 (en) * 1999-02-22 2000-08-31 Newcogen-Idea One, Inc. Method and system constituting a virtual collective entity for market-efficient retail purchase of goods and services
EP1085439A1 (en) * 1999-09-15 2001-03-21 Hewlett-Packard Company Auction method and apparatus for electronic commerce
WO2001027839A1 (en) * 1999-10-12 2001-04-19 Psi-Ets Request for bid method
WO2001035292A1 (en) * 1999-11-05 2001-05-17 Dataexchange Corporation Procurement system using reverse auction in conjunction with open market
US20010032164A1 (en) * 2000-03-15 2001-10-18 Jaekil Kim Method and apparatus for bi-directional auctioning between buyers and sellers using a computer network

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