Method for economic bidding between retailers and suppliers of goods in branded, replenished categories
First Claim
1. A method for facilitating economic bidding between a retailer and at least one supplier of goods in branded, replenished categories, said method comprising:
- selecting at least two participants for said economic bidding, wherein one of said participants is a retailer and the other of said participants are suppliers;
generating one or more economic bid scenarios;
exchanging said economic bid scenarios between said participants;
evaluating said economic bid scenarios;
responding to said economic bid scenarios; and
deriving a final solution from said economic bid scenarios through repetition of said steps by said participants.
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Abstract
The present invention is a method for an economic bidding process which enables retailers to generate competition for merchandising space or inventory investment between suppliers of items in branded, replenished categories. This process enables a retailer'"'"'s acquisition, evaluation, and comparison of economic bids from multiple suppliers through the merchandise optimization and collaboration technology also disclosed. In the economic bidding process the use of the same set of data, financial metrics, and economic model by all parties facilitates comparison of bids based on a wide variety of variables, as opposed to comparison based on cost alone as in traditional bidding. Suppliers can propose bids, and retailers evaluate them, based on an economic picture that is larger than cost alone. Hence, the bidding process enabled by the present invention is termed an “economic” bidding process.
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Citations
23 Claims
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1. A method for facilitating economic bidding between a retailer and at least one supplier of goods in branded, replenished categories, said method comprising:
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selecting at least two participants for said economic bidding, wherein one of said participants is a retailer and the other of said participants are suppliers;
generating one or more economic bid scenarios;
exchanging said economic bid scenarios between said participants;
evaluating said economic bid scenarios;
responding to said economic bid scenarios; and
deriving a final solution from said economic bid scenarios through repetition of said steps by said participants. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A computer program embodied on a computer-readable medium for facilitating economic bidding between a retailer and at least one supplier of goods in branded, replenished categories, said program comprising:
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a code segment to provide for selecting at least two participants for said economic bidding, wherein one of said participants is a retailer and the other of said participants are suppliers;
a code segment to provide for generating one or more economic bid scenarios;
a code segment to provide for exchanging said economic bid scenarios between said participants;
a code segment to provide for evaluating said economic bid scenarios;
a code segment to provide for responding to said economic bid scenarios; and
a code segment to provide for deriving a final solution from said economic bid scenarios through repetition of said steps by said participants. - View Dependent Claims (12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23)
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Specification