Managing and evaluating price data for purchasing

• US 8,442,888 B2
• Filed: 08/28/2012
• Issued: 05/14/2013
• Est. Priority Date: 06/28/2000
• Status: Expired due to Fees

• Current Assignee: Buymetrics Incorporated
• Original Assignee: Buymetrics Incorporated
• Inventors: Hansen, Valerie
• Primary Examiner(s): Niquette, Robert R
• Application Number:
  US13/597,200
• Publication Number:
  US 20120330725A1
• Time in Patent Office: 259 Days
• Field of Search: None
• US Class Current: 705/35
• CPC Class Codes: G06F 16/24575 using context
• CPC Class Codes: G06F 16/24578 using ranking
• CPC Class Codes: G06F 16/248 Presentation of query results
• CPC Class Codes: G06F 16/951 Indexing; Web crawling techniques
• CPC Class Codes: G06F 7/08 Sorting, i.e. grouping record carriers in numerical or other ordered sequence according to the classification of at least some of the information they carry by merging two or more sets of carriers in ordered sequence G06F7/16
• CPC Class Codes: G06Q 10/087 Inventory or stock management, e.g. order filling, procurement or balancing against orders
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/201 Price look-up processing, e.g. updating
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0201 Market modelling; Market analysis; Collecting market data
• CPC Class Codes: G06Q 30/0205 Location or geographical consideration
• CPC Class Codes: G06Q 30/0206 Price or cost determination based on market factors
• CPC Class Codes: G06Q 30/0283 Price estimation or determination
• CPC Class Codes: G06Q 30/04 Billing or invoicing
• CPC Class Codes: G06Q 30/0603 Catalogue ordering
• CPC Class Codes: G06Q 30/0611 Request for offers or quotes
• CPC Class Codes: G06Q 30/0623 Item investigation
• CPC Class Codes: G06Q 30/0629 for generating comparisons
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 40/06 : Asset management; Financial planning or analysis
• CPC Class Codes: G06Q 40/08 : Insurance
• CPC Class Codes: G06Q 40/12 : Accounting
• CPC Class Codes: G06Q 50/16 : Real estate
• CPC Class Codes: G06Q 50/188 : Electronic negotiation

Abstract

A method for evaluating price data includes receiving a product specification data set that identifies different items. Also received are price data sets that include items and corresponding price data. For each price data set, metric data for each item is obtained. The metric data includes one or more market reference prices for the items in the price data set. Using the metric data, a market value of each item in the price data set is calculated for comparison to the price data in the price data set. The method may also include comparing the price data in the price data set to the calculated market value to generate a comparison value. In another embodiment, metric data is obtained for each item in the product specification data set, and a market value of each item is calculated for comparison to the price data in the price data sets.

Claims

1. A computer-implemented method for evaluating price data, the method comprising:

receiving, by a computer, a product specification data set that identifies a plurality of items that differ in accordance with at least one parameter;

receiving, by a computer, one or more price data sets, wherein each price data set includes one or more items and corresponding price data that are responsive to one or more of the items in the product specification data set; and

for each price data set;

obtaining metric data from at least one source for each item in the price data set, wherein the metric data includes one or more market reference prices for the items in the price data set; and

using the metric data, calculating a market value of each item in the price data set for comparison to the price data in the price data set.

2. The method of claim 1, further comprising, for each price data set:

comparing the price data in the price data set to the calculated market value to generate a comparison value; and

communicating the comparison value to at least one output.

3. The method of claim 1, further comprising:

receiving, from a buyer agent, a buy notice with respect to one or more items in at least one price data set; and

transmitting a purchase order to a seller agent from whom the at least one price data set was received.

4. The method of claim 1, wherein the product specification data set is a combined product specification data set that represents a bundled product, tally, list, or assembly of component items.

5. The method of claim 1, further comprising:

receiving, by a computer, a plurality of product specification data sets; and

combining the plurality of product specification data sets to create a combined product specification data set,

wherein the one or more items and corresponding price data in the one or more price data sets are responsive to the combined product specification data set.

6. The method of claim 1, wherein at least one of the price data sets is a combined price data set comprising two or more price data sets in combination, and

wherein the one or more items and corresponding price data in the combined price data set are responsive to the product specification data set.

7. The method of claim 1, wherein the parameter pertains to at least one of a grade, a species, a type, a quantity, a size, a unit of measure, a tally, a location, a method of delivery, a delivery date, or a payment term.

8. The method of claim 7, wherein the delivery date includes contemporaneous on or before delivery or a forward price with one or more delivery dates in the future.

9. The method of claim 7, wherein the payment term includes terms of credit.

10. The method of claim 1, wherein a selling unit of measure for an item in the one or more price data sets is verified as equal to the unit of measure of the corresponding item as specified in the product specification data set, and if not equal, mathematically converting the corresponding price data to the specified unit of measure.

11. The method of claim 1, wherein a unit of measure of the item for which a market-reference price is obtained is verified as equal to the unit of measure of the item as specified in the product specification data set, and if not equal, mathematically converting the market-reference price to the specified unit of measure.

12. The method of claim 1, wherein the parameter of an item in at least one of the price data sets includes an alternate or adjusted parameter value.

13. The method of claim 12, further comprising:

obtaining metric data from at least one source for the item with the alternate or adjusted parameter value;

calculating a market value of the item from the metric data; and

comparing the calculated market value of the item with the alternate or adjusted parameter value to the market value of the item as specified in the product specification data set and/or the market value of the item in one or more other price data sets.

14. The method of claim 1, further comprising receiving an additional price data set as a result of a negotiation.

15. The method of claim 1, wherein the one or more market reference prices represent comparable current market prices for one or more items in the product specification data set and/or one or more price data sets.

16. The method of claim 1, wherein the product specification data set and/or a price data set calls for a price in the future that is defined as a formula of, and/or derived from, one or more prices to be reported in the future.

17. The method of claim 2, wherein the comparison value represents a percent of the calculated market value of the one or more items in the price data set.

18. The method of claim 2, wherein the calculated market value of an item is a metric price, and wherein the comparison value is a ratio or index calculated by dividing the price of an item in the price data set by the metric price for the item.

19. The method of claim 18, wherein a display of the metric price and/or the ratio or index is expandable to expose calculation detail.

20. The method of claim 2, wherein a display of the calculated market value and/or the comparison value is expandable to expose calculation detail.

21. The method of claim 1, further comprising subjecting one or more items in the product specification data set and/or one or more items in a price data set to data cross-compilation with a calculated market value of a buyer-specified alternate/substitute item for analysis and comparison.

22. The method of claim 21, wherein the market value of one or more items in the product specification data set and/or the market value of one or more items in a price data set is subjected to data cross-compilation with the calculated market value of the buyer-specified alternate/substitute item.

23. The method of claim 1, wherein a price data set includes a quantity value for each of the items in the price data set, wherein for each of the items in the price data set, the metric data comprises a comparable price per unit for the item, and wherein calculating a market value for the item comprises multiplying the comparable price per unit by the quantity value for the item.

24. The method of claim 2, wherein a price data set includes a quantity value for each of the items in the price data set, and

wherein the comparison value is generated by:

multiplying the price data for each item in the price data set by the item'"'"'s quantity value and summing the result across all items in the price data set to produce a data set price total;

multiplying the calculated market value for each item by the item'"'"'s quantity value and summing the result across all items in the price data set to produce a market value total; and

comparing the data set price total to the market value total.

25. The method of claim 2, further comprising ranking the comparison values when generating comparison values for two or more price data sets.

26. The method of claim 2, further comprising for each of the one or more items in the price data sets:

comparing the calculated market value per item across all responsive price data sets;

ranking the comparison values; and

communicating the ranked comparison values to the at least one output.

27. The method of claim 1, further comprising comparing two or more price data sets and ranking the comparison by one or more buyer-specified parameters.

28. The method of claim 2, wherein if an aspect of a price data set is not fully responsive to the product specification data set, flagging the price data set and communicating the calculated market value and/or comparison value in a manner that identifies the aspect of the price data set that is not fully responsive.

29. The method of claim 2, wherein communicating the comparison value to at least one output includes outputting one or more visual representations in the form of a table, chart, or graph.

30. The method of claim 29, wherein the one or more visual representations are expandable to expose calculation detail.

31. The method of claim 29, further comprising communicating a change in a relative relationship or correlation of two or more comparison values to the at least one output.

32. The method of claim 1, further comprising storing data related to the product specification data set, the responsive price data sets, the market value of each item, and related purchase transaction data in a database communicatively connected to a server.

33. The method of claim 1, further comprising obtaining updated metric data from at least one source for one or more items in the price data set, wherein the updated metric data includes one or more current market reference prices for the one or more items.

34. The method of claim 1, further comprising obtaining alternate metric data from one or more sources, wherein the alternate metric data includes price data indicative of a market price for a modified or substitute item.

35. The method of claim 34, further comprising comparing the calculated market value of the modified or substituted item to a market value of the item as specified in the product specification data set and/or the calculated market value of the item in one or more other price data sets.

36. The method of claim 1, further comprising obtaining metric data for an item in the price data set from at least one source, wherein the metric data includes a comparable market price for an item that is responsive to the product specification data set but has a parameter value that is different than the parameter value of the item in the product specification data set.

37. The method of claim 1, wherein calculating the market value includes applying one or more buyer-defined variables in response to one or more parameters specified in the price data set.

38. The method of claim 37, wherein the buyer-defined variables include incremental cost adjustments as defined by the buyer.

39. The method of claim 1, further comprising obtaining a market reference price for an item in the product specification data set from at least one source, and calculating a market value for the item including applying one or more buyer-defined variables in response to one or more parameters specified in the product specification data set.

40. The method of claim 1, further comprising transmitting a request for quotation (RFQ) for the product specification data set to at least one seller agent, and receiving a price data set from the at least one seller agent, wherein the price data set contains price data that is responsive to the product specification data set.

41. The method of claim 1, further comprising receiving one or more price data sets from a pre-negotiated program, price list, published catalog, or database, wherein price data in the one or more price data sets is responsive to the product specification data set.

42. The method of claim 1, further comprising receiving a price data set for one or more items from an unsolicited source, wherein price data in the price data set is responsive to the product specification data set.

43. A computer-implemented method for evaluating price data, the method comprising:

receiving, by a computer, a product specification data set that includes one or more items;

receiving, by a computer, one or more price data sets, wherein each price data set includes one or more items and corresponding price data that are responsive to one or more of the items in the product specification data set, and wherein at least one price data set includes at least one item having a parameter value that is different than the parameter value of the item in the product specification data set and/or another price data set; and

for each price data set;

obtaining metric data from at least one source for each item in the price data set, wherein the metric data includes one or more market reference prices for the items in the price data set; and

using the metric data, calculating a market value of each item in the price data set for comparison to the price data in the price data set.

44. The method of claim 43, further comprising, for each price data set:

comparing the price data in the price data set to the calculated market value to generate a comparison value; and

communicating the comparison value to at least one output.

45. The method of claim 43, further comprising:

receiving, from a buyer agent, a buy notice with respect to one or more items in at least one price data set; and

transmitting a purchase order to a seller agent from whom the at least one price data set was received.

46. The method of claim 43, wherein the product specification data set is a combined product specification data set that represents a bundled product, tally, list, or assembly of one or more component items.

47. The method of claim 43, further comprising:

receiving, by a computer, a plurality of product specification data sets; and

combining the plurality of product specification data sets to create a combined product specification data set,

wherein the one or more items and corresponding price data in the one or more price data sets are responsive to the combined product specification data set.

48. The method of claim 43, wherein at least one of the price data sets is a combined price data set comprising two or more price data sets in combination, and

wherein the one or more items and corresponding price data in the combined price data set are responsive to the product specification data set.

49. The method of claim 43, wherein the parameter values pertain to at least one of a grade, a species, a type, a quantity, a size, a unit of measure, a tally, a location, a method of delivery, a delivery date, or a payment term.

50. The method of claim 49, wherein the delivery date includes contemporaneous on or before delivery or a forward price with one or more delivery dates in the future.

51. The method of claim 49, wherein the payment term includes terms of credit.

52. The method of claim 43, wherein a selling unit of measure for an item specified in the one or more price data sets is verified as equal to the unit of measure of the corresponding item as specified in the product specification data set, and if not equal, mathematically converting the corresponding price data set to the specified unit of measure.

53. The method of claim 43, wherein a unit of measure of the item for which a market-reference price is obtained is verified as equal to the unit of measure of the item as specified in the product specification data set, and if not equal, mathematically converting the market-reference price to the specified unit of measure.

54. The method of claim 43, wherein the parameter of an item in at least one of the price data sets includes an alternate or adjusted parameter value.

55. The method of claim 54, further comprising:

obtaining metric data from at least one source for the item with the alternate or adjusted parameter value;

calculating a market value of the item from the metric data; and

comparing the calculated market value of the item with the alternate or adjusted parameter value to the market value of the item as specified in the product specification data set and/or the market value of the item in one or more other price data sets.

56. The method of claim 43, further comprising receiving an additional price data set as a result of a negotiation.

57. The method of claim 43, wherein the one or more market reference prices represent comparable current market prices for one or more items in the product specification data set and/or one or more price data sets.

58. The method of claim 43, wherein the product specification data set and/or a price data set calls for a price in the future that is defined as a formula of, and/or derived from, one or more prices to be reported in the future.

59. The method of claim 44, wherein the comparison value represents a percent of the calculated market value of the one or more items in the price data set.

60. The method of claim 44, wherein the calculated market value of an item is a metric price, and wherein the comparison value is a ratio or index calculated by dividing the price of an item in the price data set by the metric price for the item.

61. The method of claim 60, wherein a display of the metric price and/or the ratio or index is expandable to expose calculation detail.

62. The method of claim 44, wherein a display of the calculated market value and/or the comparison value is expandable to expose calculation detail.

63. The method of claim 43, further comprising subjecting one or more items in the product specification data set and/or one or more items in a price data set to data cross-compilation with a calculated market value of a buyer-specified alternate/substitute item for analysis and comparison.

64. The method of claim 63, wherein the market value of one or more items in the product specification data set and/or the market value of one or more items in a price data set is subjected to data cross-compilation with the calculated market value of the buyer-specified alternate/substitute item.

65. The method of claim 43, wherein a price data set includes a quantity value for each of the items in the price data set, wherein for each of the items in the price data set, the metric data comprises a comparable price per unit for the item, and wherein calculating a market value for the item comprises multiplying the comparable price per unit by the quantity value for the item.

66. The method of claim 44, wherein a price data set includes a quantity value for each of the items in the price data set, and

wherein the comparison value is generated by:

multiplying the price data for each item in the price data set by the item'"'"'s quantity value and summing the result across all items in the price data set to produce a data set price total;

multiplying the calculated market value for each item by the item'"'"'s quantity value and summing the result across all items in the price data set to produce a market value total; and

comparing the data set price total to the market value total.

67. The method of claim 44, further comprising ranking the comparison values when generating comparison values for two or more price data sets.

68. The method of claim 44, further comprising for each of the one or more items in the price data sets:

comparing the calculated market value per item across all responsive price data sets;

ranking the comparison values; and

communicating the ranked comparison values to the at least one output.

69. The method of claim 43, further comprising comparing two or more price data sets and ranking the comparison by one or more buyer-specified parameters.

70. The method of claim 44, wherein if an aspect of a price data set is not fully responsive to the product specification data set, flagging the price data set and communicating the calculated market value and/or comparison value in a manner that identifies the aspect of the price data set that is not fully responsive.

71. The method of claim 44, wherein communicating the comparison value to at least one output includes outputting one or more visual representations in the form of a table, chart, or graph.

72. The method of claim 71, wherein the one or more visual representations are expandable to expose calculation detail.

73. The method of claim 71, further comprising communicating a change in a relative relationship or correlation of two or more comparison values to the at least one output.

74. The method of claim 43, further comprising storing data related to the product specification data set, the responsive price data sets, the market value of each item, and related purchase transaction data in a database communicatively connected to a server.

75. The method of claim 43, further comprising obtaining updated metric data from at least one source for one or more items in the price data set, wherein the updated metric data includes one or more current market reference prices for the one or more items.

76. The method of claim 43, further comprising obtaining alternate metric data from one or more sources, wherein the alternate metric data includes price data indicative of a market price for a modified or substitute item.

77. The method of claim 76, further comprising comparing the calculated market value of the modified or substituted item to a market value of the item as specified in the product specification data set and/or the calculated market value of the item in one or more other price data sets.

78. The method of claim 43, further comprising obtaining metric data for an item in the price data set from at least one source, wherein the metric data includes a comparable market price for an item that is responsive to the product specification data set but has a parameter value that is different than the parameter value of the item in the product specification data set.

79. The method of claim 43, wherein calculating the market value includes applying one or more buyer-defined variables in response to one or more parameters specified in the price data set.

80. The method of claim 79, wherein the buyer-defined variables include incremental cost adjustments as defined by the buyer.

81. The method of claim 43, further comprising obtaining a market reference price for an item in the product specification data set from at least one source, and calculating a market value for the item including applying one or more buyer-defined variables in response to one or more parameters specified in the product specification data set.

82. The method of claim 43, further comprising transmitting a request for quotation (RFQ) for the product specification data set to at least one seller agent, and receiving a price data set from the at least one seller agent, wherein the price data set contains price data that is responsive to the product specification data set.

83. The method of claim 43, further comprising receiving one or more price data sets from a pre-negotiated program, price list, published catalog, or database, wherein price data in the one or more price data sets is responsive to the product specification data set.

84. The method of claim 43, further comprising receiving a price data set for one or more items from an unsolicited source, wherein price data in the price data set is responsive to the product specification data set.

85. A computer-implemented method for evaluating price data, the method comprising:

receiving, by a computer, a product specification data set for one or more items, wherein at least one of the items is defined by two or more parameter values;

receiving, by a computer, a plurality of price data sets, wherein each price data set includes one or more items and corresponding price data that are responsive to the one or more of the items in the product specification data set;

obtaining metric data from at least one source for each item in the product specification data set, wherein the metric data includes one or more market reference prices for the items in the product specification data set; and

using the metric data, calculating a market value of each item in the product specification data set for comparison to the price data in the plurality of price data sets.

86. The method of claim 85, further comprising:

comparing the price data for the one or more items in each price data set to the calculated market value of the items in the product specification data set to generate a comparison value; and

communicating the comparison value to at least one output.

87. The method of claim 85, further comprising:

receiving, from a buyer agent, a buy notice with respect to one or more items in at least one price data set; and

transmitting a purchase order to a seller agent from whom the at least one price data set was received.

88. The method of claim 85, wherein the product specification data set is a combined product specification data set that represents a bundled product, tally, list, or assembly of one or more component items.

89. The method of claim 85, further comprising:

receiving, by a computer, a plurality of product specification data sets; and

combining the plurality of product specification data sets to create a combined product specification data set,

wherein the one or more items and corresponding price data in the plurality of price data sets are responsive to the combined product specification data set.

90. The method of claim 85, wherein at least one of the price data sets is a combined price data set comprising two or more price data sets in combination, and

wherein the one or more items and corresponding price data in the combined price data set are responsive to the product specification data set.

91. The method of claim 85, wherein the parameter values pertain to at least one of a grade, a species, a type, a quantity, a size, a unit of measure, a tally, a location, a method of delivery, a delivery date, or a payment term.

92. The method of claim 91, wherein the delivery date includes contemporaneous on or before delivery or a forward price with one or more delivery dates in the future.

93. The method of claim 91, wherein the payment term includes terms of credit.

94. The method of claim 85, wherein a selling unit of measure for an item in the one or more price data sets is verified as equal to the unit of measure of the corresponding item as specified in the product specification data set, and if not equal, mathematically converting the price data set to the specified unit of measure.

95. The method of claim 85, wherein a unit of measure of an item for which a market-reference price is obtained is verified as equal to the unit of measure of the item as specified in the product specification data set, and if not equal, mathematically converting the market-reference price to the specified unit of measure.

96. The method of claim 85, wherein the parameter of an item in at least one of the price data sets includes an alternate or adjusted parameter value.

97. The method of claim 96, further comprising:

obtaining metric data from at least one source for the item with the alternate or adjusted parameter value;

calculating a market value of the item from the metric data; and

comparing the calculated market value of the item with the alternate or adjusted parameter value to the market value of the item as specified in the product specification data set and/or the market value of the item in one or more other price data sets.

98. The method of claim 85, further comprising receiving an additional price data set as a result of a negotiation.

99. The method of claim 85, wherein the one or more market reference prices represent comparable current market prices for one or more items in the product specification data set and/or one or more price data sets.

100. The method of claim 85, wherein the product specification data set and/or a price data set calls for a price in the future that is defined as a formula of, and/or derived from, one or more prices to be reported in the future.

101. The method of claim 86, wherein the comparison value represents a percent of the calculated market value of the one or more items in the price data set.

102. The method of claim 86, wherein the calculated market value of an item is a metric price, and wherein the comparison value is a ratio or index calculated by dividing the price of an item in the price data set by the metric price for the item.

103. The method of claim 102, wherein a display of the metric price and/or the ratio or index is expandable to expose calculation detail.

104. The method of claim 86, wherein a display of the calculated market value and/or the comparison value is expandable to expose calculation detail.

105. The method of claim 85, further comprising subjecting one or more items in the product specification data set and/or one or more items in a price data set to data cross-compilation with a calculated market value of a buyer-specified alternate/substitute item for analysis and comparison.

106. The method of claim 105, wherein the market value of one or more items in the product specification data set and/or the market value of one or more items in a price data set is subjected to data cross-compilation with the calculated market value of the buyer-specified alternate/substitute item.

107. The method of claim 85, wherein a price data set includes a quantity value for each of the items in the price data set, wherein for each of the items in the price data set, the metric data comprises a comparable price per unit for the item, and wherein calculating a market value for the item comprises multiplying the comparable price per unit by the quantity value for the item.

108. The method of claim 86, wherein a price data set includes a quantity value for each of the items in the price data set, and

wherein the comparison value is generated by:

multiplying the price data for each item in the price data set by the item'"'"'s quantity value and summing the result across all items in the price data set to produce a data set price total;

multiplying the calculated market value for each item by the item'"'"'s quantity value and summing the result across all items in the price data set to produce a market value total; and

comparing the data set price total to the market value total.

109. The method of claim 86, further comprising ranking the comparison values when generating comparison values for two or more price data sets.

110. The method of claim 86, further comprising for each of the one or more items in the price data sets:

comparing the calculated market value per item across all responsive price data sets;

ranking the comparison values; and

communicating the ranked comparison value to the at least one output.

111. The method of claim 85, further comprising comparing two or more price data sets and ranking the comparison by one or more buyer-specified parameters.

112. The method of claim 86, wherein if an aspect of a price data set is not fully responsive to the product specification data set, flagging the price data set and communicating the calculated market value and/or comparison value in a manner that identifies the aspect of the price data set that is not fully responsive.

113. The method of claim 86, wherein communicating the comparison value to at least one output includes outputting one or more visual representations in the form of a table, chart, or graph.

114. The method of claim 113, wherein the one or more visual representations are expandable to expose calculation detail.

115. The method of claim 113, further comprising communicating a change in a relative relationship or correlation of two or more comparison values to the at least one output.

116. The method of claim 85, further comprising storing data related to the product specification data set, the responsive price data sets, the market value of each item, and related purchase transaction data in a database communicatively connected to a server.

117. The method of claim 85, further comprising obtaining updated metric data from at least one source for one or more items in the product specification data set, wherein the updated metric data includes one or more current market reference prices for the one or more items.

118. The method of claim 85, further comprising obtaining alternate metric data from one or more sources, wherein the alternate metric data includes price data indicative of a market price for a modified or substitute item.

119. The method of claim 118, further comprising comparing the calculated market value of the modified or substituted item to the calculated market value of the item as specified in the product specification data set and/or a market value of the item in one or more price data sets.

120. The method of claim 85, further comprising obtaining metric data for an item in the product specification data set from at least one source, wherein the metric data includes a comparable market price for an item that is responsive to the product specification data set but has a parameter value that is different than the parameter value of the item in the product specification data set.

121. The method of claim 85, wherein calculating the market value includes applying one or more buyer-defined variables in response to one or more parameters specified in the product specification data set.

122. The method of claim 121, wherein the buyer-defined variables include incremental cost adjustments as defined by the buyer.

123. The method of claim 85, further comprising obtaining a market reference price for an item in the product specification data set from at least one source, and calculating a market value for the item including applying one or more buyer-defined variables in response to one or more parameters specified in the product specification data set.

124. The method of claim 85, further comprising transmitting a request for quotation (RFQ) for the product specification data set to at least one seller agent, and receiving a price data set from the at least one seller agent, wherein the price data set contains price data that is responsive to the product specification data set.

125. The method of claim 85, further comprising receiving one or more price data sets from a pre-negotiated program, price list, published catalog, or database, wherein price data in the one or more price data sets is responsive to the product specification data set.

126. The method of claim 85, further comprising receiving a price data set for one or more items from an unsolicited source, wherein price data in the price data set is responsive to the product specification data set.

127. A computer-implemented method for evaluating the market value of items, the method comprising:

receiving, by a computer, a product specification data set that identifies at least one item that is defined by two or more parameters, or a plurality of items that differ in accordance with at least one parameter;

obtaining metric data from at least one source for each item in the product specification data set, wherein the metric data includes one or more market reference prices for the items in the product specification data set;

calculating a market value for each item in the product specification data set from the metric data; and

communicating the calculated market values for the items to at least one output.

128. The method of claim 127, wherein the product specification data set is a combined product specification data set that represents a bundled product, tally, list, or assembly of one or more component items.

129. The method of claim 127, further comprising:

receiving, by a computer, a plurality of product specification data sets; and

combining the plurality of product specification data sets to create a combined product specification data set,

wherein the market value calculated for each item in the combined product specification data set is communicated to the at least one output.

130. The method of claim 127, wherein the parameter values pertain to at least one of a grade, a species, a type, a quantity, a size, a unit of measure, a tally, a location, a method of delivery, a delivery date, or a payment term.

131. The method of claim 130, wherein the delivery date includes contemporaneous on or before delivery or a forward price with one or more delivery dates in the future.

132. The method of claim 130, wherein the payment term includes terms of credit.

133. The method of claim 127, wherein the product specification data set calls for a price in the future that is defined as a formula of, and/or derived from, one or more prices to be reported in the future.

134. The method of claim 127, wherein a unit of measure of the item for which a market reference price is obtained is verified as equal to the unit of measure of the corresponding item as specified in the product specification data set, and if not equal, mathematically converting the market reference price to the specified unit of measure.

135. The method of claim 127, wherein the one or more market reference prices represent comparable current market prices for the one or more items in the product specification data set.

136. The method of claim 127, wherein a display of the calculated market value is expandable to expose calculation detail.

137. The method of claim 127, further comprising updating the market value of the product specification data set by obtaining updated metric data from at least one source for the one or more items in the product specification data set, wherein the updated metric data includes one or more current market reference prices for the one or more items, and calculating an updated market value for each item in the product specification data set.

138. The method of claim 127, further comprising obtaining alternate metric data from one or more sources, wherein the alternate metric data includes price data indicative of a market price for a modified or substitute item.

139. The method of claim 138, further comprising comparing the calculated market value of the modified or substituted item to a market value of the item as specified in the product specification data set.

140. The method of claim 127, further comprising obtaining metric data for an item that is responsive to the product specification data set but has a parameter value that is different than the parameter value of the item in the product specification data set.

141. The method of claim 127, wherein calculating the market value includes applying one or more buyer-defined variables in response to one or more parameters specified in the product specification data set.

142. The method of claim 127, further comprising subjecting one or more items in the product specification data set to data cross-compilation with a calculated market value of a buyer-specified alternate/substitute item for analysis and comparison.

143. The method of claim 127, wherein the product specification data set includes a quantity value for each item, wherein for each of the items, the metric data comprises a comparable price per unit for the item, and wherein calculating a market value for the item comprises multiplying the comparable price per unit by the quantity value for the item.

144. The method of claim 143, wherein the market reference price for each item is multiplied by the item'"'"'s quantity value and summed across all items to create a market price total for the product specification data set.

145. The method of claim 127, wherein calculating a market value for an item includes applying one or more buyer-defined variables in response to one or more of the parameters specified in the product specification data set.

146. The method of claim 127, wherein the buyer-defined variables include incremental cost adjustments as defined by the buyer.

147. The method of claim 137, further comprising:

comparing the updated market value of the product specification data set to a prior or base market value, and

communicating the comparison to the at least one output.

148. The method of claim 147, wherein the comparison represents a percent of the prior or base market value for the one or more items in the product specification data set.

149. The method of claim 147, wherein the comparison is a ratio or index calculated by dividing the updated market value by the prior or base market value.

150. The method of claim 149, wherein a display of the updated market value and/or the ratio or index is expandable to expose calculation detail.

151. The method of claim 147, wherein communicating the comparison to the at least one output includes outputting one or more visual representations in the form of a table, chart, or graph.

152. The method of claim 151, wherein a change in a relative relationship or correlation of two or more comparisons is communicated and/or displayed.