Patent ID: 6922676

Claim:
A computerized method for transmitting inventory information between a plurality of vendors and at least one buyer, comprising the steps of: creating an exchange platform provided at a location removed from the buyer and the vendors; transmitting first inventory information from a first group of vendors denoted as search time participants to said exchange platform at first discrete time intervals during a twenty-four hour period of time; transmitting second inventory information from a second group of vendors denoted as order time participants to said exchange platform polling said second group of vendors at second discrete time intervals during said twenty-four hour period of time, the number of said first discrete time intervals being less than said second discrete time intervals, resulting in the receipt of said second inventory information at said exchange platform more frequently than the receipt of said first inventory information at said exchange platform, said second inventory information including a purchase price; transmitting third inventory information from a third group of vendors denoted as real time participants to said exchange platform at third discrete time intervals during said twenty-four hour period of time, the number of third discrete time intervals being greater than said second discrete time intervals, resulting in the receipt of said third inventory information at said exchange platform more frequently than the receipt of said second inventory information at said exchange platform; periodically reviewing said first, second and third inventory information by the buyer through said exchange platform; transmitting a first purchase order from the buyer directly to said search time participants without sending said first purchase order to said exchange platform; providing said exchange platform with an order time approval program allowing the buyer to communicate with said order time participants through said exchange platform; transmitting a second purchase order from the buyer to said order time approval program at said exchange platform, said exchange platform transmitting said second purchase order to one of said order time participants; transmitting a first communication from one of said order time participants to the buyer through said exchange platform responsive to said second purchase order, said first communication rejecting or approving said second purchase order; transmitting a third purchase order from the buyer to one of said real time participants through said exchange platform; transmitting a second communication from one of said real time participants to the buyer through said exchange platform; said second communication sent to the buyer in real time indicating whether said third purchase order was rejected or approved; and the buyer purchasing inventory from one of the vendors when one of said purchase orders is approved by one of the vendors.