Method and system for purchasing commodities

• US 20070050275A1
• Filed: 08/26/2005
• Published: 03/01/2007
• Est. Priority Date: 08/26/2005
• Status: Abandoned Application

• Current Assignee: Emerlyn Software, LLC
• Original Assignee: Emerlyn Software, LLC
• Inventors: Hunsicker, Calvin
• Application Number:
  US11/212,238
• Publication Number:
  US 20070050275A1
• Time in Patent Office: Days
• US Class Current: 705/35
• CPC Class Codes: G06Q 10/04 Forecasting or optimisation specially adapted for administrative or management purposes, e.g. linear programming or "cutting stock problem" market predictions or forecasting for commercial activities G06Q30/0202
• CPC Class Codes: G06Q 10/087 Inventory or stock management, e.g. order filling, procurement or balancing against orders
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes

Abstract

A method of purchasing a commodity at a low price is provided. The method involves gathering commodity-pricing information from at least one commodity-providing source periodically. The commodity-pricing information is uploaded to a commodity database periodically. A specific commodity contained within the commodity database and attached to commodity-pricing information is identified. A lowest cost provider is determined from the commodity-providing sources using the commodity-pricing information attached to the specific commodity. The specific commodity is purchased using the information provided.

Claims

1. A method of purchasing a commodity at a low price, the method comprising the steps of:

gathering commodity-pricing information from at least one commodity-providing source periodically;

uploading the commodity-pricing information to a commodity database periodically;

identifying a specific commodity contained within the commodity database and attached to commodity-pricing information;

determining a lowest cost provider from the commodity-providing sources using the commodity-pricing information attached to the specific commodity; and

purchasing the specific commodity.

2. The method of claim 1, wherein the steps of gathering and uploading are completed daily.

3. The method of claim 1, wherein the steps of gathering and uploading are performed through a computer network.

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

providing acceptable commodity equivalents information; and

determining an acceptable lowest cost provider from the commodity-providing sources using the commodity-pricing information attached to the acceptable commodity equivalents.

5. The method of claim 1, wherein the step of purchasing further comprises purchasing the specific commodity over a computer network using the commodity-pricing information.

6. The method of claim 5, further comprising:

receiving an order statement over the computer network;

comparing a billed price within the order statement to a purchasing price within the commodity-pricing information; and

alerting a user when the billed price is not equivalent to the purchasing price for the specific commodity.

7. The method of claim 1, wherein the specific commodity is purchased from a second provider, further comprises tracking a cost difference between purchasing the specific commodity from the lowest cost provider and purchasing the specific commodity from the second provider.

8. The method of claim 1, wherein the steps of gathering and uploading further comprises utilizing Electronic Data Interchange to gather and upload commodity-pricing information.

9. The method of claim 1, further comprising receiving inventory information from the commodity-providing sources periodically.

10. The method of claim 9, wherein the step of determining the lowest cost provider further comprises determining the lowest cost provider, from the commodity-providing sources having a sufficient inventory to provide the specific commodity, using the commodity-pricing information attached to the specific commodity

11. A system for purchasing a commodity at a low price, the system comprising:

means for gathering commodity-pricing information from at least one commodity-providing source periodically;

means for uploading the commodity-pricing information to a commodity database periodically;

means for identifying a specific commodity contained within the commodity database and attached to commodity-pricing information;

means for determining a lowest cost provider from the commodity-providing sources using the commodity-pricing information attached to the specific commodity; and

means for purchasing the specific commodity.

12. The system of claim 11, wherein the means for purchasing the specific commodity further comprises means for automatically purchasing the specific commodity.

13. The system of claim 12, further comprising:

means for receiving billing information;

means for automatically comparing a billed price within the billing information to a purchasing price within the commodity-pricing information; and

means for alerting a user when the billed price is not equivalent to the purchasing price for the specific commodity.

14. The system of claim 13, further comprising:

means for automatically comparing a billed commodity within the billing information to a purchasing commodity within the commodity-pricing information;

means for alerting the user when the billed commodity is not equivalent to the purchasing commodity for the specific commodity, thereby alerting the user that a different commodity was billed for by the commodity-providing source than was purchased;

means for automatically comparing a billed volume within the billing information to a purchasing volume within the commodity-pricing information; and

means for alerting the user when the billed volume is not equivalent to the purchasing volume for the specific commodity, thereby informing the user a different volume was billed by the commodity-providing source than was purchased.

15. The system of claim 11, further comprising:

means for identifying acceptable equivalents for the specific commodity; and

means for determining the lowest cost provider from the commodity-providing sources using the commodity-pricing information attached to the acceptable equivalents.

16. The system of claim 11, further comprising means for tracking a difference between a purchase price for the specific commodity purchased and a lowest price received from the lowest cost provider.

17. The system of claim 11, further comprising means for receiving inventory information from the commodity-providing sources periodically.

18. The system of claim 17, wherein the means for determining the lowest cost provider further comprises means for determining the lowest cost provider, from the commodity-providing sources who have a sufficient inventory to supply the specific commodity, using the commodity-pricing information attached to the specific commodity.

19. The system of claim 11, wherein the means for gathering commodity-pricing information further comprises means for utilizing Electronic Data Interchange for gathering commodity-pricing information.

20. The system of claim 11, further comprising:

means for identifying a volume of the specific commodity to be purchased;

means for presenting lowest cost pricing for;

the specific commodity identified;

an equivalent; and

for a bulk item entry, wherein lowest cost pricing for the bulk item entry is pricing for an acceptable equivalent purchased at a volume greater than the identified volume.

21. A method of sorting pharmaceutical-pricing information, the method comprising the steps of:

gathering pharmaceutical-pricing information from at least one pharmaceutical-providing source periodically;

uploading the pharmaceutical-pricing information to a pharmaceutical database periodically;

identifying a pharmaceutical contained within the pharmaceutical database and attached to the pharmaceutical-pricing information;

using at least one filter to identify at least one acceptable equivalent attached to the pharmaceutical-pricing information, wherein the pharmaceutical and the acceptable equivalent combine to form a pharmaceutical grouping;

determining a lowest cost pharmaceutical within the pharmaceutical grouping using the pharmaceutical-pricing information attached to the pharmaceutical and the acceptable equivalent; and

purchasing at least one of the pharmaceutical and the acceptable equivalent.

22. The method of claim 21, wherein the at least one filter utilizes equivalents information from a Food and Drug Administration Orange Book.

23. The method of claim 21, further comprising tracking a price difference between the purchased pharmaceutical and a second pharmaceutical.