System and method for competitive pricing and procurement of customized goods and services

A system comprising one or more non-transitory computer readable medium containing computer-readable instructions executable on one or more computer processors that are operatively connected to the computer readable medium to perform a method for facilitating selection of a vendor of customized goods or services by a buyer or agent of the buyer in a transaction with the selected vendor, the method comprising the steps of:

• processing at least one electronic communication including vendor information used in establishing a plurality of vendor records stored in at least one database, the vendor records corresponding to each of a plurality of vendors and having vendor capability data identifying a plurality of capabilities of each vendor for providing a customized good or service, including at least one product or service category, where the customized good or service is produced or performed after the selection of the vendor;
• processing at least one electronic communication including vendor pool information identifying a plurality of vendors which are selected for inclusion in one or more vendor pools associated with one or more buyers for receiving a job solicitation, and storing electronic data in at least one database that identifies each vendor pool by identifying, for each vendor pool, one or more buyers associated with that vendor pool;
• processing at least one electronic communication including job information associated with a buyer after the vendor records and the buyer's vendor pool have been established, the job information having job descriptor data identifying a plurality of characteristics of the customized good or service, including at least one product or service category, for a job on which the buyer or agent of the buyer seeks to receive a bid;
• automatically comparing via a computer processor the vendor records to the job information, wherein at least one of the plurality of characteristics for the customized good or service is designated as selection criteria and compared with a corresponding vendor capability from the plurality of capabilities for the vendors from the buyer's vendor pool;
• automatically identifying via a computer processor one or more subsets from the buyer's vendor pool as qualified for receiving the job solicitation, based on said comparison;
• thereafter transmitting the job solicitation to one or more selected members from at least one of the identified subsets of the buyer's vendor pool;
• receiving and processing a bid response from at least one of the vendors which received the job solicitation, the bid response including bid response data identifying a bid price for the job from a corresponding vendor;
• and
• outputting to the buyer or agent of the buyer an electronic communication providing the bid response data from at least one of the bid responses.