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  <news:News rdf:about="http://ebiquity.umbc.edu/getnews/html/id/11/ebiquity-Student-Team-Wins-120M-in-Supply-Chain-Contest">
    <rdfs:label><![CDATA[ebiquity Student Team Wins $120M in Supply Chain Contest]]></rdfs:label>
    <news:title><![CDATA[ebiquity Student Team Wins $120M in Supply Chain Contest]]></news:title>
    <news:publishedOn rdf:datatype="&xsd;dateTime">2004-07-25T00:00:00-05:00</news:publishedOn>
    <news:description><![CDATA[ebiquity Student Team Wins $120M in Supply Chain Contest

<p>A team of three graduate students from the UMBC Computer Science and
Electrical Engineering Department developed a software agent that won
second place in the finals of the 2004 <a
href="http://www.sics.se/tac/">Trading Agent Competition</a> for
Supply Chain Management held in New York City on July 22, 2004.</p>

<p>Advised by Professor <a href="http://umbc.edu/~finin/">Tim FInin</a>, graduate students <a href="http://www.csee.umbc.edu/~guangh1/">Guang Huang</a>, <a
href="http://www.csee.umbc.edu/~yangyu1/">Yang Yu</a> and <a
href="mailto:xufei1">Xu Fei</a> developed an agent that competed in an
field of 30 entries implemented by teams from universities, research
labs and companies from around the world.  Each agent acted as a
virtual computer manufacturer that interacted over the Internet with
other software agents representing virtual suppliers of computer
components and customers for the completed PCs.</p>

<p>The agents participated in rounds in which they compete
for customer orders and for procurement of a variety of
components over a period of several months. Each day
customers issue requests for quotes and select from quotes
submitted by the agents, based on delivery dates and
prices. The agents are limited by the capacity of their
simulated assembly lines and have to procure components
from a set of eight suppliers.  Four types of components
are represented in the game: CPUs, motherboards, memory,
and hard drives with several varieties of each type.
Customer demand comes in the form of requests for quotes
for different types of PCs, each requiring a different
combination of components.</p>

<p>The UMBC agent competed in a series of qualifying and seeding
rounds during June and July and, based on its performance, was invited
to participate in the final contest held at Columbia University as
part of the <a href="http://satchmo.cs.columbia.edu/aamas04/">Third
International Joint Conference on Autonomous Agents and Multi Agent
Systems</a>.  The final showdown involved six agents that bought and
sold for eight hours, simulating over eight years of business.  The
UMBC agent ended up making a profit of over $120 million dollars
which, unfortunately, were simulated, as well.</p>






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