The DFA consists of six individual auctions located throughout the Netherlands which each host a couple of clock auctions on which goods are auctioned. In total there are 39 clocks on the DFA.
When buying through a clock auction, buyers aim to buy at the lowest price. Thus, they try to show their interest at the very latest possible moment. However, caution needs to be exercised because reacting too late means forgoing the ability to buy the auctioned product because other buyers might have jumped on the opportunity. As a consequence, buying through clock auctions is not an easy job. There is also a remote application through which buyers can buy at the DFA from any location. Many buyers procure for their customers who are located at different locations, and there are six different auctions of the DFA in the Netherlands. This means that when remotely buying, buyers could optimise the transportation cost and transportation time by making sure they buy products from an auction that is in close proximity to the location where they need to ship the goods.
This means that there are four main decision parameters to be considered with every buy: (1) price; (2) quality measures; (3) transportation costs; and (4) transportation time. There was a discussion on how intelligent agent-based systems could be utilized to empower buyers in their decision making.
After the presentation a discussion was held about where best to apply the agents, their benefits, and the information the agents need to base its decision on.
