System and method for contract execution against expressive contracts
US8732047B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Oct 26, 2009 |
| Grant date | May 20, 2014 |
| Priority date | — |
| Expiry date | Oct 24, 2031 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q50/188
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
In a computer-implemented method of contract execution, data about contracts is stored in a computer storage accessible to a processor of a computer along with data about a procurement plan and data about a purchase request that includes information about a first quantity of at least one good or service. The processor determines a second quantity of the one good or service and a second contract against which to complete the purchase request based on the procurement plan, the data about the contracts, at least one purchase made against one of the contracts, a trigger condition and associated effect, and the quantity of at least one good or service. In response to the second contract and the second quantity being approved, the processor causes a purchase order for the second quantity of the one good or service to be placed to the supplier associated with the second contract.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.