Reverse auction system, method and computer program product

Details Reverse auction system, method and computer program product Reverse auction system, method and computer program product

2011-08-09

2011-08-09

Kyle, Charles R. (Department: 3695)

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Finance

C705S026640

Reexamination Certificate

active

07996298

ABSTRACT:
A reverse auction system, method and computer program product are provided. A tender is received from a buyer over a network. Such tender includes information relating to a desired good or service. A plurality of suppliers is identified based on the information, and the tender is anonymously forwarded to the identified suppliers over the network. In use, a plurality of bids is received in response to the tender from a plurality of the suppliers over the network, and such bids are consolidated. Further, the consolidated bids are forwarded to the buyer over the network.

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