Methods and systems for auto expanding vendor selection

• US 10,019,743 B1
• Filed: 09/18/2015
• Issued: 07/10/2018
• Est. Priority Date: 09/19/2014
• Status: Active Grant

• Current Assignee: Altisource Holdings, S.A.R.L. (Altisource Portfolio Solutions SA), Andrei Iancu, Ashley Moody Florida Office of The Attorney General and Successors Thereto, Jeanette Nunez Lieutenant Governor of Florida and Successors Thereto, Joan D. Heuer, Laurel M Lee Florida Secretary of State and Successors Thereto, Steven Mnuchin United States Secretary of The Treasury and Successors Thereto, Timothy E Gribben Commissioner For Bureau of The Fiscal Service Agency of The United States Department of The Treasury and Successors and Assigns Thereto
• Original Assignee: Altisource S.a.r.l. (Altisource Portfolio Solutions SA)
• Inventors: Finch, Steven W., Wu, Donnie, Vendatharamanujam, Jayashree
• Primary Examiner(s): Casey, Alexis
• Application Number:
  US14/858,576
• Time in Patent Office: 1,026 Days
• Field of Search: 705 262
• CPC Class Codes: G06Q 30/0605 Supply or demand aggregation
• CPC Class Codes: G06Q 30/0633 Lists, e.g. purchase orders, compilation or processing

Abstract

An example system for automatically expanding a vendor selection cycle for fulfillment of a requested product or service can include a processor, a user interface, and a database. The database can store a plurality of vendors characterized by one or more vendor characteristics. The processor can be configured to associate the requested product or service with a plurality of order characteristics, compare the one or more vendor characteristics for each of the plurality of vendors with the plurality of order characteristics, and filter the plurality of vendors to yield a set of viable vendors according to the comparison. The processor can also rank the set of viable vendors, send order requests based on the ranking, and automatically expand the list based on whether the order is fulfilled within a pre-determined period of time.

Claims

1. A system comprising:

at least one processor;

a user interface in communication with the at least one processor; and

a storage medium in communication with the at least one processor, the storage medium having stored therein a database comprising a plurality of vendors, each of the plurality of vendors characterized by one or more vendor characteristics;

wherein the at least one processor is configured to;

associate a requested product or service with a plurality of order characteristics;

compare the one or more vendor characteristics for each of the plurality of vendors with the plurality of order characteristics;

filter the plurality of vendors to yield a set of viable vendors according to the comparison;

rank the set of viable vendors according to the extent to which the plurality of order characteristics is matched with the one or more vendor characteristics;

select a first predetermined number of the plurality of vendors comprising the set of viable vendors according to the ranking to yield a first preferred vendor set;

simultaneously transmit to each of the plurality of vendors in the first preferred vendor set an order request identifying the requested product or service;

determine whether at least one of the plurality of vendors comprising the first preferred vendor set accepts the order request within a first predetermined time period;

upon a determination that at least one of the plurality of vendors comprising the first preferred vendor set accepts the order request within a first predetermined time period, facilitate completion of the order request with the first in time of the at least one of the plurality of vendors to accept the order request;

upon a determination that at least one of the plurality of vendors comprising the first preferred vendor set does not accept the order request within the first predetermined time period, expand the selection of the first preferred vendor set to yield a second preferred vendor set;

upon the expansion to the second preferred vendor set, determine whether at least one of the plurality of vendors comprising the second preferred vendor set accepts the order request within a second predetermined time period;

upon the determination that at least one of the plurality of vendors comprising the second preferred vendor set accepts the order request within a second predetermined time period, facilitate completion of the order request with the first in time of the at least one of the plurality of vendors to accept the order request.

2. The system of claim 1, wherein the at least one processor is further configured to determine if the set of viable vendors has been exhausted and, upon a finding that the set of viable vendors has not been exhausted, repeat the process until a vendor accepts the order request.

3. The system of claim 1, wherein the at least one processor is further configured to determine if an overall time limit has elapsed and, upon a finding that the overall time limit has not elapsed, repeat the process until a vendor accepts the order request.

4. The system of claim 1, wherein the at least one processor is further configured to, upon the determination that at least one of the plurality of vendors comprising the second preferred vendor set has not accepted the order request within the second predetermined time period, accept the manual selection of a vendor.

5. The system of claim 1, wherein the at least one processor is further configured to accept one or more boundary conditions and eliminate any of the vendors comprising the first preferred vendor set for whom the one or more vendor characteristics do not satisfy the one or more boundary conditions.

6. The system of claim 5, wherein the boundary conditions comprise a cost for the requested good or service, a geographic location of the vendor, and a projection of a completion date for the requested good or service by the vendor.

7. The system of claim 1, wherein the one or more vendor characteristics comprise the vendor'"'"'s distance to a property associated with the good or service, past cycle time performance, past quality performance, incidence of order cancelation, and time elapsed since last order.

8. The system of claim 1, wherein the order characteristics comprise one or more requisite characteristics and one or more ranking characteristics.

9. The system of claim 8, wherein the processor is further configured to, upon the expiration of a predetermined time or the exhaustion of the set of viable vendors, assign the order request to an agent, wherein the agent may determine whether one or more requisite characteristics or one or more boundary conditions should be relaxed, and manually assign the order to a vendor.

10. A computer implement method comprising:

storing, by at least one processor, a database in a storage medium comprising a plurality of vendors, each of the plurality of vendors characterized by one or more vendor characteristics;

associating, by the least one processor, a requested product or service with a plurality of order characteristics;

comparing, by the least one processor, the one or more vendor characteristics for each of the plurality of vendors with the plurality of order characteristics;

filtering, by the least one processor, the plurality of vendors to yield a set of viable vendors according to the comparison;

ranking, by the least one processor, the set of viable vendors according to the extent to which the plurality of order characteristics is matched with the one or more vendor characteristics;

selecting, by the least one processor, a first predetermined number of the plurality of vendors comprising the set of viable vendors according to the ranking to yield a first preferred vendor set;

simultaneously transmitting, by the least one processor, to each of the plurality of vendors in the first preferred vendor set an order request identifying the requested product or service;

determining, by the least one processor, whether at least one of the plurality of vendors comprising the first preferred vendor set accepts the order request within a first predetermined time period;

upon a determination that at least one of the plurality of vendors comprising the first preferred vendor set accepts the order request within a first predetermined time period, facilitating, by the least one processor, completion of the order request with the first in time of the at least one of the plurality of vendors to accept the order request;

upon a determination that at least one of the plurality of vendors comprising the first preferred vendor set does not accept the order request within the first predetermined time period, expanding, by the least one processor, the selection of the first preferred vendor set to yield a second preferred vendor set;

upon the expansion to the second preferred vendor set, determining, by the least one processor, whether at least one of the plurality of vendors comprising the second preferred vendor set accepts the order request within a second predetermined time period;

upon the determination that at least one of the plurality of vendors comprising the second preferred vendor set accepts the order request within a second predetermined time period, facilitating, by the least one processor, completion of the order request with the first in time of the at least one of the plurality of vendors to accept the order request.

11. The method of claim 10 further comprising determining, by the least one processor, if the set of viable vendors has been exhausted and, upon a finding that the set of viable vendors has not been exhausted, repeating the process until a vendor accepts the order request.

12. The method of claim 10 further comprising determining, by the least one processor, if an overall time limit has elapsed and, upon a finding that the overall time limit has not elapsed, repeat the process until a vendor accepts the order request.

13. The method of claim 10 further comprising:

upon the determination that at least one of the plurality of vendors comprising the second preferred vendor set has not accepted the order request within the second predetermined time period, accepting, by the least one processor, the manual selection of a vendor.

14. The method of claim 10 further comprising accepting, by the least one processor, one or more boundary conditions and eliminate any of the vendors comprising the first preferred vendor set for whom the one or more vendor characteristics do not satisfy the one or more boundary conditions.

15. The method of claim 14, wherein the boundary conditions comprise a cost for the requested good or service, a geographic location of the vendor, and a projection of a completion date for the requested good or service by the vendor.

16. The method of claim 10, wherein the one or more vendor characteristics comprise the vendor'"'"'s distance to a property associated with the good or service, past cycle time performance, past quality performance, incidence of order cancelation, and time elapsed since last order.

17. The method of claim 10, wherein the order characteristics comprise one or more requisite characteristics and one or more ranking characteristics.

18. The method of claim 10 further comprising:

upon the expiration of a predetermined time or the exhaustion of the set of viable vendors, assigning, by the least one processor, the order request to an agent, wherein the agent may determine whether one or more requisite characteristics or one or more boundary conditions should be relaxed, and manually assign the order to a vendor.