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Bidding strategy for drug requests for quotation – prototype

Project duration: 17 days

Brief description

Developing a prototype that supports the determination of quotation prices for influenza vaccine requests for quotation from health insurance companies on the basis of mathematical models. In the test operation (phase I), the prototype should demonstrate the possibilities of software support for the bidding strategy.

Supplement

In an initial customer workshop, game theory and optimization theory approaches are evaluated in order to identify the mathematical model that is suitable from a functional point of view. A prototype version with first functions is developed on the basis of the results. This prototype version is tested and functionally evaluated in a second joint workshop at the customer. The prototype is completed using the resulting change requirements. The prototype is implemented in Excel 2003 using VBA in Windows.

Subject description

The customer participates as a supplier in influenza vaccine requests for quotation from health insurance companies. Requests for quotation for a vaccine are simultaneously issued in several geographical regions, so-called lots. The requests for quotation are carried out with complete concealment, i.e., price quotes are submitted with respect to a due date and are not published. The bidder with the lowest price for a particular lot wins without exception. The challenge is to predict the strategies of the competitors with regard to the lots in which quotations are submitted and to predict the corresponding quotation prices. The expected amount to be supplied (lot size) and assumptions about the competitors (e.g., free capacity, bidding price) are included. Using the so-called knapsack problem, a model is developed that supports the customer in determining a selection of lots and a price on the basis of the technical assumptions (input parameters).

Overview

Project period27.12.2011 - 13.01.2012

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