Method and apparatus for processing unmet demand

• US 20020065769A1
• Filed: 11/01/2001
• Published: 05/30/2002
• Est. Priority Date: 11/30/2000
• Status: Abandoned Application

• Current Assignee: Medpool.com, Inc.
• Original Assignee: Medpool.com, Inc.
• Inventors: Bishop, Michael D., Irribarren, Roberto
• Application Number:
  US10/002,555
• Publication Number:
  US 20020065769A1
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

According to one embodiment, the meeting of buyer demand that was unmet in prior bidding cycles in an on-line bidding transaction is provided. In one such embodiment, a method includes determining that a price for a quantity of business offered by at least one vendor and a price by at least one buyer for the quantity of business do not match during at least one prior bidding cycle in an on-line bidding transaction. The method also includes determining a difference between the price by the at least one vendor and the price by the at least one buyer. Additionally, the method includes generating a new bidding cycle in the on-line bidding transaction upon determining that the difference is within a range.

Claims

1. A computer implemented method comprising:

determining that a price for a quantity of business offered by at least one vendor and a price by at least one buyer for the quantity of business do not match during at least one prior bidding cycle in an on-line bidding transaction;

determining a difference between the price by the at least one vendor and the price by the at least one buyer; and

generating a new bidding cycle in the on-line bidding transaction upon determining that the difference is within a range.

2. The computer implemented method of claim 1, wherein the range is based on a percentage of closeness between the price for the quantity of business by the at least one vendor and the price by the at least one buyer for the quantity of business.

3. The computer implemented method of claim 2, wherein generating the new bidding cycle comprises matching the vendor that is closest to the at least one buyer upon determining that the difference between the price by the vendor and the price by the at least one buyer is within the range.

4. The computer implemented method of claim 1, wherein the buyer is anonymous.

5. The computer implemented method of claim 1, wherein the at least one buyer is committed to the quantity of business if the price offered by the at least one vendor is met.

6. The computer implemented method of claim 1, wherein the range is determined subsequent to determining the difference between the price by the vendor and the price by the at least one buyer.

7. The computer implemented method of claim 1, wherein the range is determined prior to any bidding cycle between the vendor and the set of one or more buyers.

8. The computer implemented method of claim 1, wherein the range is determined by the vendor.

9. A computer implemented method comprising:

determining that a quantity of business that a buyer wanted was not met by a set of one or more vendors during at least one prior bidding cycle in an on-line bidding transaction;

selecting one vendor from among the set of one or more vendors that is closest in price for the quantity of business to a price for the quantity of business that is offered by the buyer;

determining a difference between the price by the vendor that is closest and the price by the buyer; and

matching the vendor that is closest to the buyer upon determining that the difference between the price by the vendor and the price by the buyer is within a percentage range.

10. The computer implemented method of claim 9, wherein the percentage range is determined by the one vendor.

11. The computer implemented method of claim 9, wherein the percentage range is determined subsequent to determining the difference between the price by the one vendor and the price by the buyer.

12. The computer implemented method of claim 9, wherein the percentage range is determined prior to any bidding cycle between the one vendor and the buyer.

13. The computer implemented method of claim 9, wherein the percentage range is determined by an intermediary.

14. The computer implemented method of claim 9, wherein the percentage range is based on a price amount of the quantity of business.

16. The computer implemented method of claim 15, wherein the percentage range is determined subsequent to determining the difference between the price by the one vendor and the price by the set of one or more buyers.

17. The computer implemented method of claim 15, wherein the percentage range is determined prior to any bidding cycle between the one vendor and the set of one or more buyers.

18. The computer implemented method of claim 15, wherein the range is determined by the one vendor.

19. The computer implemented method of claim 15, wherein the range is determined by the set of one or more buyers.

20. The computer implemented method of claim 15, wherein the range is determined by an intermediary.

15. A computer implemented method comprising:

determining that a price for a quantity of business offered by a set of one or more vendors and a price by a set of one or more buyers for the quantity of business do not match during at least one prior bidding cycle in an on-line bidding transaction;

selecting one vendor from among the set of one or more vendors that is closest in price for the quantity of business to a price for the quantity of business that is offered by the buyer for each buyer in the set of one or more buyers;

determining a difference between the price by the one vendor that is closest and the price by the buyer for each buyer in the set of one or more buyers;

generating a new bidding cycle in the on-line bidding transaction upon determining that the difference is within a range for each buyer in the set of one or more buyers, wherein the generating the new bidding cycle comprises;

generating pools of buyers for each vendor that is closest in price; and

determining whether the price for the vendor is within a percentage range of the price for the pool of buyers for each pool of buyers