Method of and system for generating purchase orders using an auction process
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United States of America Patent
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Nov 1, 2011
Grant Date -
Sep 8, 2005
app pub date -
Nov 4, 2004
filing date -
Mar 8, 2004
priority date (Note) -
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status (Latency Note)
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Abstract
A method of generating a purchase order includes receiving purchasing data for the item to be purchased in a computerized system and generating the purchase order based on received purchasing data for the item to be purchased, determining whether a sufficient amount of funds is available for the purchase order, submitting the purchase order for a remedial action to obtain the sufficient amount of funds if the sufficient amount of funds is not available, determining a supplier for the item to be purchased from a plurality of potential suppliers using an automated auction system if a sufficient amount of funds is available, and modifying the purchase order to include data from the automated auction regarding the supplier.
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