Industrial Consultancy & Sponsored Research (IC&SR) , IIT Madras
System and Method for Eliciting and Incorporating Preferences into Electronic Negotiations for Cloud Computing Transactions
Categories for this Invention
Technology: The disclosure pertains to an exchange system, specifically an exchange server and method for remotely negotiating with one or more item sources.
Industry: E-commerce and cloud computing
Applications: Online auction platforms, Supply Chain and Procurement Platforms etc.
Market: The India cloud computing market size is projected to grow at a CAGR of 18.37% reaching a value of USD 17.8 billion by 2029.
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Problem Statement
- The worldwide web has revolutionized consumer shopping, allowing consumers to shop from anywhere using their devices.
- Popular online shopping websites support a comparison shopping engine, providing prices and product information.
- Cloud computing allows for resource aggregation and dynamic pricing, facilitated by Service Level Agreements (SLAs).
- However, the current model of cloud-based services, based on posted price and auction, hinders consumer and supplier negotiation and does not effectively offer a way for consensus.
Technology
- The main objective of the embodiments is to provide an exchange server for remote negotiation of items with multiple item sources.
- This includes receiving requests with various time-based discounts and user preferences, determining negotiation parameters based on these parameters, negotiating with item sources, generating offers based on negotiation, and displaying these offers to the user.
- The server also enables the generation of offers based on negotiation parameters.
Key Features / Value Proposition
Technical Perspective:
- Provides an exchange server and a method thereof for determining a plurality of time-based negotiation parameters based on the plurality of time-based discounts and the user preferences.
- Generating one or more offer(s) to user for the item based on the negotiation.
Industrial Perspective:
- The method’s objective is to improve resource utilization for suppliers and enhance user satisfaction by facilitating negotiations that align with both consumer and supplier preferences.
- It seeks to optimize resource allocation, fostering mutually beneficial agreements that cater to the needs and preferences of both parties.
Questions about this Technology?
Contact For Licensing
sm-marketing@imail.iitm.ac.in
ipoffice2@iitm.ac.in
Research Lab
Prof. SUNDARRAJ R P
Department of Management Studies.
Intellectual Property
IITM IDF Ref. 1297
Patent No. 433836
Technology Readiness Level
TRL-2/3
Proof of Concept ready, & tested