Auction Application Integrating Business Information Management Systems
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Solution Overview
Problem
Businesses face challenges in maximizing revenue from disposing of old inventory and used assets due to limited access to a large audience for auctions, and existing systems lack automation in linking business information management systems with online Web auction services.
Innovation Solution
A method and system that integrates business information management systems with Web auction services through an auction application, allowing for automated listing, tracking, and post-auction processing, enabling businesses to manage auctions and postings-for-sale more effectively and efficiently.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Quantity of substance
If businesses use traditional brokers and auctions to dispose of inventory and used assets, then they can generate some revenue return, but they are limited in the size of the audience and inability to maximize price realization
Solution Approach 1:
The patent transitions from traditional local/physical auction venues to an Internet-based platform, adding a global dimension to the auction marketplace. This enables access to international bidders and significantly expands the potential audience size while maintaining the ability to achieve high price realization through competitive bidding mechanisms.
Solution Approach 2:
The system provides a universal platform that can handle multiple auction types (ascending bid auctions, reverse auctions, Dutch auctions) and serve diverse industries through a single integrated solution. The standardized interface between business information management systems and auction services enables multi-functional operation across different auction scenarios.
2Ease of operation
If businesses manually involve themselves with Web auction services for each auction or sales posting, then they can control the process, but it increases the time and effort required and reduces efficiency
Solution Approach 1:
The system performs preliminary actions by automatically extracting product information from the business information management system before the auction process begins. Product availability, pricing, and other critical data are pre-validated and prepared, eliminating the need for manual intervention in these preliminary steps and reducing overall time requirements.
Solution Approach 2:
The automated interface enables the business information management system to serve itself by automatically generating auction listings, tracking auction status, and processing post-auction transactions without requiring manual involvement. The system monitors and manages the entire auction lifecycle autonomously, significantly reducing time and effort while maintaining operational control.
3Productivity
If businesses integrate their business information management systems with Web auction services through automated linking, then they can improve efficiency and maximize revenue, but it requires complex system integration and technical complexity
Solution Approach 1:
The patent introduces a standardized interface as an intermediary between the business information management system and the auction service provider. This interface layer handles the complexity of data exchange, authentication, and communication protocols, simplifying the integration process for businesses while enabling efficient automated operation between the two systems.
Data Source
AI summary
A system and method are provided for checking product availability for a listing on a network-based auction service using a separate auction application where an available quantity is determined from information received from a business information management system and the available quantity is displayed to the a user (i.e., seller) in the auction application. The seller may then select a quantity from the available quantity for the listing. In this manner, the available quantity may be used when a listing is generated. When a listing is published or communicated to the network-based auction service, the selected quantity of the product in the listing may be compared (verified) against the then available quantity of the product and the seller may be notified or the publication may be prevented if the selected quantity for the listing is not available. Additionally, during the publication (communicating the listing to the network-based auction service) the selected quantity for the listing may be reserved in the business information management system to prevent the selected quantity from otherwise being disposed.