Auction Grouping Tool Synchronizes Closing Times

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Solution Overview

Problem

Managing multiple online auctions with coinciding closing times poses challenges for participants, as they struggle to effectively participate in simultaneous auctions, leading to potential missed best bids due to complexity in scheduling and extension mechanisms, and a lack of tools facilitating auction grouping for managers.

Innovation Solution

An auction management tool that groups auctions based on characteristics of services/products and participants, allowing for dynamic extension of closing times in response to bidding activity in a lead auction, ensuring participants can fully engage with all auctions within a group without complex calculations.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Ease of operation

If auctions are scheduled with staggered closing times, then participants can manage multiple auctions more easily, but the complexity of scheduling and extension mechanisms increases

Engineering Contradiction:

Improveparticipant ability to manage multiple auctionsVSAvoidscheduling and extension mechanism complexity

Core Design Contradiction:

Ease of operationVSDevice complexity

Solution Approach 1:

The patent groups multiple auctions into auction groups where closing times are synchronized. When any auction in a group is extended, all other auctions in the same group are automatically extended by the same amount. This merging approach simplifies participant management by ensuring all related auctions close together, eliminating the need for participants to track and manage multiple different closing times across related auctions.

Inventive Principle:

Principle #5Merging (Combining)

Solution Approach 2:

The patent segments auctions into distinct groups based on participant characteristics, product characteristics, and bidding patterns. By dividing auctions into manageable groups rather than treating all auctions individually, the system reduces overall complexity while maintaining ease of participation within each group.

Inventive Principle:

Principle #1Segmentation

2Device complexity

If multiple auctions close at the same time, then auction management is simplified, but participants struggle to effectively participate in simultaneous auctions

Engineering Contradiction:

Improveauction management complexityVSAvoidparticipant ability to participate in simultaneous auctions

Core Design Contradiction:

Device complexityVSEase of operation

Solution Approach 1:

The patent introduces dynamic extension mechanisms where auction closing times are not fixed but can be extended based on bidding activity. The system monitors bidding patterns and automatically extends closing times when necessary, allowing participants adequate time to participate without requiring manual intervention or complex pre-scheduling of staggered times.

Inventive Principle:

Principle #15Dynamics

Solution Approach 2:

The system implements feedback loops that monitor bidding activity in real-time and automatically adjust closing times accordingly. When bidding activity indicates extended interest, the system feeds this information back into the scheduling mechanism, extending closing times to maintain participant engagement while keeping management simple.

Inventive Principle:

Principle #23Feedback

3Reliability

If auction closing times are extended to capture last-minute bids, then best bids are more likely to be received, but overlapping extensions create confusion and prevent effective participation

Engineering Contradiction:

Improvelikelihood of receiving best bidsVSAvoidparticipant ability to manage overlapping auctions

Core Design Contradiction:

ReliabilityVSEase of operation

Solution Approach 1:

The patent merges the extension logic across multiple auctions by implementing synchronized extension within auction groups. When an extension is triggered in one auction, the same extension is automatically applied to all other auctions in the group, ensuring that closing times remain coordinated and eliminating overlapping extension confusion.

Inventive Principle:

Principle #5Merging (Combining)

4Adaptability or versatility

If complex extension mechanisms are implemented to handle overlapping auctions, then auction closing times can be managed, but the number of adjustments needed increases and participant confusion increases

Engineering Contradiction:

Improveability to handle overlapping auctionsVSAvoidextension mechanism complexity

Core Design Contradiction:

Adaptability or versatilityVSDevice complexity

Solution Approach 1:

The patent creates a universal extension mechanism that functions across all auctions within a group through a single rule set. This multi-functional approach allows the same extension logic to be applied universally to any auction in the group, reducing the need for auction-specific adjustments and simplifying the overall mechanism while maintaining high adaptability.

Inventive Principle:

Principle #6Universality (Multi-functionality)

Data Source

PatentUS8386330B1Tool for auction grouping by preference and extensions of time

Publication Date: 2013.02.26 GLOBAL EPROCURE

AI summary

A tool used for managing multiple auctions is presented. The tool includes instructions providing the capability of creating subgroups of auctions based on criteria used to sort data pertaining either to the subject matter of the auction or to its participants. Further, the tool manages within-group closing times by extending closing times of all auctions in the group. A comparison of a recent bid to extension criteria may extend the closing time of an auction by an extension period; if the number of times this auction is extended meets a trigger number, then all closing times of all auctions in the group are extended by a specified time related to the trigger number and the extension period.