Negotiation events in industrial procurement involving multiple, highly customisable goods pose serious challenges to buying agents when trying to determine the best set of providing agents' offers. Typically, a buying agent's decision involves a large variety of constraints that may involve attributes of a very same item as well as attributes of multiple items. In this paper we describe iBundler, an agent-aware negotiation service to solve the winner determination problem considering buyers' and providers' constraints and preferences.
TPBOSCourier is the Transportation Procurement and Bid Optimization System (TPBOS) for Philips Electronics to automate and optimize its procurement of courier services. It was jointly developed by Red Jasper Limited and the Hong Kong University of Science and Technology, and has been successfully deployed in 2005. Philips typically procures courier services for more than 2500 shipping lanes annually and the use of the software has resulted in significant cost and time savings in analyzing and optimizing procurement decisions. This paper explains the development and design of the TPBOSCourier.
Axiom, a legal staffing-turned-technology company, recently announced a five-year deal with Johnson & Johnson (J & J) to provide multi-shore contract management services to the pharmaceutical giant. Axiom will support J&J's global procurement contracting function, helping to standardize its vast trove of procurement agreements across a dozen contract types and 10 languages. This is not Axiom's lone big dollar, long-term contract with a major corporation. A couple years ago, it inked an eye-popping $73 million deal with Credit Suisse to process the bank's "master trading agreements." Axiom's metamorphosis from staffing to technology is emblematic of the maturing face and changing focus of legal service providers.
'Legal innovation' is no longer an oxymoron. The staid, precedent bound, legal guild is slowly morphing into something different. The contours of the new legal order are still being shaped and the dominant players have yet to emerge. Even confirmed industry Luddites concede the legal profession/industry is changing. Many lawyers, to borrow from T.S. Eliot's Journey of the Magi, are "no longer at ease in the old dispensation."
Many years ago at a Finley Kumble partnership meeting a friend wryly commented, 'We're tents in the bazaar.' He was right; each partner operated his/her own mini-firm-- setting rates, hustling business, and engaging in non-stop origination disputes. It was by no means a collegial bazaar. But in addition to the'bazaar' that most large law firms are, a broader competitive marketplace exists. Law firms once dominated the legal vertical, and there was plenty of work to go around.