Method for economic bidding between retailers and suppliers of goods in branded, replenished categories
Number of patents in Portfolio can not be more than 2000
United States of America Patent
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N/A
Issued Date -
Mar 21, 2002
app pub date -
Sep 28, 2001
filing date -
Jan 26, 1999
priority date (Note) -
Abandoned
status (Latency Note)
Importance
Abstract
The present invention is a method for an economic bidding process which enables retailers to generate competition for merchandising space or inventory investment between suppliers of items in branded, replenished categories. This process enables a retailer's acquisition, evaluation, and comparison of economic bids from multiple suppliers through the merchandise optimization and collaboration technology also disclosed. In the economic bidding process the use of the same set of data, financial metrics, and economic model by all parties facilitates comparison of bids based on a wide variety of variables, as opposed to comparison based on cost alone as in traditional bidding. Suppliers can propose bids, and retailers evaluate them, based on an economic picture that is larger than cost alone. Hence, the bidding process enabled by the present invention is termed an 'economic' bidding process.
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Cited Art Landscape
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