Supplier bidding strategy model for multi-attribute reverse auction based on bee colony algorithm.

This paper presented a supplier bidding strategy model for multi-attribute reverse auction to get the optimal bidding strategy of the target supplier for the next round in the multi-attribute combinatorial bidding process. Considering the bidding strategy of competitive vendors and winner determination rules, the model combined the solving procedure of ABCA and the decision-making process of the target suppliers. It used ABCA to search the optimal strategy of the target supplier for the next round of bids with the analysis of the competitive vendors' cost function. The simulation result shows that this model can effectively find out the optimal bidding strategy of the target supplier in the dynamic bidding process. [ABSTRACT FROM AUTHOR]