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| Author: | Hohner, G. (et al.) |
| Title: | Combinatorial and quantity-discount procurement auctions benefit Mars, incorporated and its suppliers |
| Journal: | Interfaces
2003 : JAN-FEB, VOL. 33:1, p. 23-35 |
| Index terms: | Market theory Auctions Bidding |
| Language: | eng |
| Abstract: | Simple auctions neglect the complex business constraints required by strategic sourcing. The Mars-IBM team created a procurement auction Web site that enables buyers to incorporate complex bid structures and business constraints into strategic-sourcing auctions. The Mars procurement auction Web site supports several alternatives to simple auctions that help match its needs as procurer and the capabilities of suppliers by incorporating optimal bid selection subject to constraints based on business rules in a dynamic environment. |
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