Information Technology Reference
In-Depth Information
Chapter V
Improving E-Trade Auction
Volume by Consortium
Sungchul Hong
Towson University, USA
Barin N. Nag
Towson University, USA
Dong-qing Yao
Towson University, USA
aBstract
In this chapter, we present a two-tier supply chain composed of multiple buyers and multiple suppliers.
We have studied the mechanism to match trading parameter, specifically volume in this study, between
buyers and suppliers. The chapter discusses the architecture of the agent and the agent community when
there is cooperative matching of volume. We present a Dynamic Programming algorithm to describe the
agent's decision process and heuristic algorithms as the practical solution methodology. The results of
extensive experiments show the improvement achieved by the cooperation.
introduction
Agent-based auction trading plays an important role in the electronic acquisition of products/service for
organization or e-procurement, especially for MRO materials. Effective agent-based trading has multiple
benefits, such as reducing inventory levels, and a dual impact of centralizing strategic procurement
objectives while decentralizing the operational procurement processes (Puschmann and Alt, 2005).
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