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Auction-Based Mechanisms for Electronic Procurement

Chandrashekar, TS and Narahari, Y and Rosa, Charles H and Kulkarni, Devadatta M and Tew, Jeffrey D and Dayama, Pankaj (2007) Auction-Based Mechanisms for Electronic Procurement. In: IEEE Transactions on Automation Science and Engineering, 4 (3). pp. 297-321.

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Auction-based mechanisms are extremely relevant in modern day electronic procurement systems since they enable a promising way of automating negotiations with suppliers and achieve the ideal goals of procurement efficiency and cost minimization. This paper surveys recent research and current art in the area of auction-based mechanisms for e-procurement. The survey delineates different representative scenarios in e-procurement where auctions can be deployed and describes the conceptual and mathematical aspects of different categories of procurement auctions. We discuss three broad categories: 1) single-item auctions: auctions for procuring a single unit or multiple units of a single homogeneous type of item; 2) multi-item auctions: auctions for procuring a single unit or multiple units of multiple items; and 3) multiattribute auctions where the procurement decisions are based not only on costs but also on attributes, such as lead times, maintenance contracts, quality, etc. In our review, we present the mathematical formulations under each of the above categories, bring out the game theoretic and computational issues involved in solving the problems, and summarize the current art. We also present a significant case study of auction based e-procurement at General Motors.

Item Type: Journal Article
Publication: IEEE Transactions on Automation Science and Engineering
Publisher: IEEE
Additional Information: Copyright 2007 IEEE. Personal use of this material is permitted. However, permission to reprint/republish this material for advertising or promotional purposes or for creating new collective works for resale or redistribution to servers or lists, or to reuse any copyrighted component of this work in other works must be obtained from the IEEE.
Department/Centre: Division of Electrical Sciences > Computer Science & Automation
Date Deposited: 10 Jun 2008
Last Modified: 19 Sep 2010 04:45
URI: http://eprints.iisc.ac.in/id/eprint/14243

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