Given ABF's breadth of products and geographically spread operations, understanding and mitigating risk across the entire supply chain is crucial for ABF. Ensuring their procurement teams have visibility on raw material pricing and cost drivers is fundamental to their cost-planning strategy, particularly given that suppliers often provide their own prices and costs, making it difficult for ABF to benchmark.
ABF's procurement team are able to easily benchmark independent commodity price data using Mintec’s independent price data, making supplier conversations more collaborative and cost considerations more transparent. Monitoring price changes continues long after the negotiation process - tracking and evidencing price changes across a spectrum of product lines and categories is simplified thanks to Mintec's price alerts and Outlook reports.
With added insight and access to trusted and independent raw material pricing, ABF have been able to strengthen their negotiating capabilities with key suppliers, saving them significant time and increasing internal efficiencies. In addition to strengthened negotiations, ABF are able to better plan and mitigate risk across the multitude of product lines and sectors, using Mintec’s Cost Modelling tool and Price Change Reports.