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MATERIALS SUPPLY CONTRACT SYSTEM AND METHOD

  • US 20100049593A1
  • Filed: 08/28/2009
  • Published: 02/25/2010
  • Est. Priority Date: 09/04/2000
  • Status: Active Grant
First Claim
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1. A method for a controlling party to award a contract to a bidding party selected from a panel of predetermined bidding parties, the method conducted over a computer network which comprises at least one controlling party computer, an administrator computer and at least two bidding party computers, the method involving a competitive auction event conducted to result in said contract award, the method comprising:

  • in advance of said auction event, establishing key contract parameters to be provided to the at least two bidding party computers;

    applying a weighting process with respect to said parameters for each bidding party of the panel of predetermined bidding parties, to calculate a rating for each said bidding party; and

    during said auction event, receiving respective bids from the respective bidding party computers, adjusting said bids by applying said ratings for the respective bidding parties, and using said ratings to provide to each bidder an indication of a current bid to win (CBTW) in respect of said contract, the CBTW calculated by said administrator computer to dynamically indicate to a bidding party the offer that that particular party must submit to compete with the best previous bid.

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