Patent ID: 7499871

Claim:
A computerized method for procuring an engineered-to-order product for a manufacturing company comprising: (a) receiving at a purchasing department for said manufacturing company, an approved design for a product, said approved design from an engineering department of said manufacturing company for an engineered-to-order product; (b) creating from said approved design a purchase order requisition for said product, said purchase order requisition created by a buyer in said purchasing department; (c) creating a request for quotation based on said purchase order requisition; (d) submitting said request for quotation to an online marketplace to which a plurality of suppliers have access; (e) receiving at least one question from at least one of said plurality of suppliers regarding said request for quotation; (f) revising said request for quotation at said online marketplace according to said at least one question from said at least one of said plurality of suppliers, said revision to said request for quotation available to all of said plurality of suppliers; (g) receiving a plurality of conforming quotes from a plurality of said plurality of suppliers, said conforming quotes meeting criteria in said request for quotation and comprising a quote price; (h) receiving at least one non-conforming quote from at least one supplier, wherein said non-conforming quote does not meet criteria in said request for quotation and comprises a quote price; (i) submitting from said purchasing department to said engineering department for approval said non-conforming quote received from said at least one supplier; (j) receiving from said engineering department an approval for said non-conforming quote; (k) computing for said conforming quotes and said approved non-conforming quote a weighted cost based on said quote price in each of said conforming and non-conforming quotes wherein said weighted cost is determined using a composite rating that combines quality and delivery ratings for the supplier submitting the quote; and (l) awarding a purchase order to one of said plurality of suppliers wherein said buyer awards said purchase order according to a lowest weighted cost of said weighted costs for said plurality of conforming quotes and said approved non-conforming quote.