Optimizing a business transaction between a selling vendor and a shipping vendor

• US 8,082,183 B2
• Filed: 03/26/2007
• Issued: 12/20/2011
• Est. Priority Date: 08/27/2002
• Status: Active Grant

• Current Assignee: Formula Labs, LLC
• Original Assignee: Formula Labs, LLC
• Inventors: Chowdhary, Manish, Rosca, Andrei
• Primary Examiner(s): ALLEN, WILLIAM J
• Application Number:
  US11/691,169
• Publication Number:
  US 20070250398A1
• Time in Patent Office: 1,730 Days
• Field of Search: 705 26- 272, 705330-341, 705/28
• US Class Current: 705/26.1
• CPC Class Codes: G06Q 10/083 Shipping
• CPC Class Codes: G06Q 10/0833 Tracking
• CPC Class Codes: G06Q 10/0834 Choice of carriers
• CPC Class Codes: G06Q 10/0835 Relationships between shipper or supplier and carriers
• CPC Class Codes: G06Q 10/0837 Return transactions
• CPC Class Codes: G06Q 10/087 Inventory or stock management, e.g. order filling, procurement or balancing against orders
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 30/0605 Supply or demand aggregation
• CPC Class Codes: G06Q 30/0619 Neutral agent
• CPC Class Codes: G06Q 30/0625 Directed, with specific intent or strategy
• CPC Class Codes: G06Q 30/0635 Processing of requisition or of purchase orders

Abstract

A method is disclosed for optimizing a business transaction between a selling vendor and a shipping vendor. The method includes receiving a query from a selling vendor. The query includes customer order data. The method also includes identifying at least one possible shipping vendor based on the customer order data and determining shipping information for each of the at least one possible shipping vendors. The method further includes selecting a preferred shipping vendor from among the at least one possible shipping vendors and completing the transaction between the selling vendor and the shipping vendor.

Claims

1. A method for using a computer to optimize a business transaction between a selling vendor and a shipping vendor, the method comprising:

receiving by the computer a query from a selling vendor, the selling vendor maintaining a physical and virtual inventory of products, the query comprising customer order data, the selling vendor comprising a vendor receiving an order from a customer;

identifying by the computer at least one possible shipping vendor based on the customer order data, each of the at least one possible shipping vendor comprising a vendor possessing a physical inventory of at least one product described by the customer order data;

determining by the computer shipping information for each of the at least one possible shipping vendors;

selecting via the computer a preferred shipping vendor from among the at least one possible shipping vendors, the preferred shipping vendor adapted to use a shipping company to ship the at least one product; and

completing a transaction between the selling vendor and the preferred shipping vendor.

2. The method of claim 1 wherein identifying by the computer the at least one possible shipping vendor includes:

accessing a catalog of the selling vendor; and

accessing a master catalog.

3. The method of claim 1 wherein selecting via the computer a preferred shipping vendor includes selecting a plurality of shipping vendors.

4. The method of claim 1 further comprising ranking by the computer the at least one possible shipping vendors.

5. The method of claim 4 wherein the ranking is performed based at least in part on a purchase price.

6. The method of claim 4 wherein the ranking is performed based at least in part on a hub buying price.

7. The method of claim 4 wherein the ranking is performed based at least in part on a hub selling price.

8. The method of claim 4 wherein the ranking is performed based at least in part on an actual shipping cost.

9. The method of claim 4 wherein the ranking is performed based at least in part on a commission.

10. The method of claim 1 further comprising reporting by the computer the selection of the preferred shipping vendor to the selling vendor.

11. The method of claim 1 further comprising reporting by the computer the identity of the selling vendor to the preferred shipping vendor.

12. The method of claim 1 wherein selecting via the computer a preferred shipping vendor includes:

presenting a list of the at least one possible shipping vendors by the computer to the selling vendor;

receiving by the computer a selection of the preferred shipping vendor from the selling vendor;

collecting payment from the selling vendor by the computer;

paying the shipping vendor by the computer;

scheduling shipment by the computer with the shipping company; and

paying the shipping company by the computer.

13. The method of claim 12 wherein collecting payment from the selling vendor includes collecting a commission for the transaction.

14. The method of claim 12 wherein paying the shipping vendor includes paying collecting a commission.

15. A computer system for optimizing a business transaction between a selling vendor and a shipping vendor, the computer system comprising:

a processor;

an input device connected to the processor;

a memory connected to the processor and storing data and instructions to control the operation of the processor;

the input device receiving a query from a selling vendor, the selling vendor maintaining a physical and virtual inventory of products, the query including customer order data;

the processor operative with the stored instructions to;

access a catalog of the selling vendor stored in the memory;

access a master catalog stored in the memory, the master catalog comprising inventory of a plurality of shipping vendors;

identify at least one possible shipping vendor from the plurality of shipping vendors based on the customer order data, the master catalog and the catalog of the selling vendor, each possible shipping vendor possessing a physical inventory of at least one product identified by the customer order data;

determine shipping information for each of the at least one possible shipping vendors;

rank the at least one possible shipping vendors;

select a preferred shipping vendor from among the at least one possible shipping vendors; and

complete a transaction between the selling vendor and the preferred shipping vendor.

16. The system of claim 15 wherein the processor is further operative with the stored instructions to select a plurality of preferred shipping vendors.

17. The system of claim 15 wherein the processor is further operative with the stored instructions to rank the at least one possible shipping vendor based at least in part on a purchase price.

18. The system of claim 15 wherein the processor is further operative with the stored instructions to rank the at least one possible shipping vendor based at least in part on a hub buying price.

19. The system of claim 15 wherein the processor is further operative with the stored instructions to rank the at least one possible shipping vendor based at least in part on a hub selling price.

20. The system of claim 15 wherein the processor is further operative with the stored instructions to rank the at least one possible shipping vendor based at least in part on an actual shipping cost.

21. The system of claim 15 wherein the processor is further operative with the stored instructions to rank the at least one possible shipping vendor based at least in part on a commission.

22. The system of claim 15 wherein the processor is further operative with the stored instructions to report the selection of the preferred shipping vendor to the selling vendor.

23. The system of claim 15 wherein the processor is further operative with the stored instructions to report the identity of the selling vendor to the preferred shipping vendor.

24. The system of claim 15 wherein the processor is further operative with the stored instructions to:

present a list of the at least one possible shipping vendors by the computer to the selling vendor;

receive a selection of the preferred shipping vendor from the selling vendor;

collect payment from the selling vendor;

pay the shipping vendor;

schedule shipment with a shipping company; and

pay the shipping company.

25. The system of claim 15 wherein the processor is further operative with the stored instructions to collect a commission from the selling vendor.

26. The system of claim 15 wherein the processor is further operative with the stored instructions to collect a commission from the shipping vendor.