Preferred Vendor Pre-Transaction Bidding System
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Solution Overview
Problem
Buyers are often forced to choose providers based on criteria other than their own preferences, necessitating a system to elicit counter-offers from preferred vendors that meet specific criteria such as cost and quality, and allowing for automatic or manual acceptance based on preprogrammed rules.
Innovation Solution
A method and system for preferred vendor pre-transaction bidding, where user preferences are matched with available offers, and counter-offers are generated and transmitted to vendors, allowing for automatic or manual acceptance based on pre-determined criteria.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If a buyer is forced to choose a provider based on external criteria (e.g., company policy, lowest cost carrier), then the buyer can meet organizational requirements, but the buyer's personal preferences and satisfaction are compromised
Solution Approach 1:
The system performs preliminary actions by automatically sending requests to the buyer's preferred vendors before the transaction is finalized. The system retrieves pricing information from preferred vendors in advance and presents counter-offers to the buyer, allowing the buyer to make an informed decision before committing to the externally-selected provider.
Solution Approach 2:
The system implements feedback by presenting the buyer with counter-offers from their preferred vendors that match or come within a specified range of the externally-selected provider's offer. This feedback loop allows the buyer to see alternative options and make adjustments to their selection based on personal preferences while still meeting organizational requirements.
2Ease of operation
If the system elicits counter-offers from preferred vendors, then the buyer's preferences are better satisfied, but the transaction process becomes more complex
Solution Approach 1:
The system performs self-service by automatically retrieving pricing information from preferred vendors, generating counter-offers, and presenting options to the buyer without requiring manual intervention. The system handles the complexity of communicating with multiple vendors, comparing prices, and generating counter-offers automatically, reducing the burden on the buyer.
Solution Approach 2:
The system applies parameter changes by allowing the buyer to specify a price range threshold (e.g., within $25 of the externally-selected provider's offer). The system uses this parameter to filter and present only those counter-offers that meet the buyer's criteria, simplifying the decision-making process while still providing preference-based options.
3Ease of operation
If the system allows manual review of counter-offers, then the buyer has more control over the selection, but the transaction time increases
Solution Approach 1:
The system implements dynamics by allowing the buyer to choose between automatic acceptance and manual review of counter-offers based on their preferences and the situation. The system adapts to the buyer's needs by providing different levels of control, enabling quick automatic acceptance when convenient or manual review when the buyer wants more oversight.
Solution Approach 2:
The system uses parameter changes by allowing the buyer to set a price range threshold that determines whether counter-offers are automatically accepted or require manual review. This parameter enables the buyer to balance control and time efficiency by adjusting the threshold according to their preferences and the importance of the transaction.
Data Source
AI summary
In one embodiment, a method that can be performed on a system, is provided for preferred vender pre-transaction bidding. In one embodiment, the method comprises providing to a user one or more offers for sale of an item or service, the offers matching criteria pre-determined by one of a separate user or entity; receiving a selection of at least one offer from the user; comparing the selected offer to a set of pre-determined preferences of the user and generating and transmitting a request to one or more vendors for a counter-offer based on the set of pre-determined preferences of the user; in response to receiving one or more counter-offers, comparing the one or more counter offers to the criteria pre-determined by the separate user or entity; and providing to the user one or more of the counter-offers matching the criteria pre-determined by the separate user or entity.