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Coordinating Multi-Attribute Reverse Auctions Subject to Finite Capacity Considerations



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Coordinating Multi Attribute Reverse Auctions Subject to Finite Capacity Considerations Jiong Sun and Norman M Sadeh CMU ISRI 03 105 Institute for Software Research International School of Computer Science Carnegie Mellon University Pittsburgh PA 15213 3891 Appeared in the Proceedings of the 37th Hawaii International Conference on System Sciences January 5 8 2004 Big Island Hawaii The research reported in this paper has been conduced as part of the MASCHINE project a joint research effort between Carnegie Mellon University and the University of Michigan funded by the National Science Foundation under ITR Grant 0205435 Keywords Supply Chain Formation Reverse Auction Finite Capacity Scheduling Abstract Reverse auctions offer the prospect of more efficiently matching suppliers and producers in the face of changing market conditions Prior research has generally ignored the temporal and finite capacity constraints under which reverse auctioneers typically operate In this paper we consider the problem faced by a manufacturer or service provider that needs to fulfill a number of customer orders each requiring a possibly different combination of components or services The manufacturer can procure these components or services from a number of possible suppliers through multi attribute reverse auctions Bids submitted by prospective suppliers include a price and a delivery date The reverse auctioneer has to select a combination of supplier bids that will maximize its overall profit taking into account its own finite capacity and the prices and delivery dates offered by different suppliers for the same components services The manufacturer s profit is determined by the revenue generated by the products it sells the cost of the components services it purchases as well as late delivery penalties it incurs if it fails to deliver products services in time to its own customers We provide a formal model of this important class of problems discuss its complexity and introduce rules



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