An Electronic Date Market with Sellers' Consortium in Saudi Arabia: A Mathematical Model and Simulation

Dates are an essential commodity in Saudi Arabia. Date trading markets take the form of traditional auction markets. Dates are perishable goods which need to be traded quickly. An electronic market will allow dates traders easier market participation opportunities with respect to time and geographic distance. For efficient trading, a math model with a sellers' consortium is proposed; this math model is simulated by Anylogic simulation software with a heuristic algorithm. This paper explores the possibility of trading with the sellers' consortium. Furthermore, small sellers' consortia and individual large sellers can form a date market and supply the product more efficiently. A sellers' consortium is implemented in the model, and it demonstrated an improved trading performance compared to the same market without consortium.