System and Method for Procurement Strategy Optimization Against Expressive Contracts
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United States of America Patent
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Issued Date -
Apr 29, 2010
app pub date -
Oct 26, 2009
filing date -
Oct 24, 2008
priority date (Note) -
Abandoned
status (Latency Note)
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Abstract
In a computer-implemented method of procurement strategy optimization, data about a number of contracts is stored in a computer storage accessible to a processor of a computer along with a forecast of a future quantity of at least one good or service to be purchased. The processor of the computer determines a first plan for future procurement against at least one of the stored contracts based on the forecast and the following data specified by the one contract: a good or service, a payment rule, a trigger condition, and an associated effect of the trigger condition. In response to the processor automatically approving the first plan subject to one or more predetermined rules or the processor receiving an approval of the first plan, the processor causes the first plan to be adopted for future procurement.
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