It’s no secret that inflation has become one of the greatest economic worries of 2022, for both businesses and people alike. According to the Fed, European Commission and World Bank, this threat is not going anywhere soon and institutions such as the Bank of England have been put under immense pressure as companies plan for extended periods of inflation. Both the aftermath from the recent COVID pandemic alongside the current geopolitical instability as a result of the Russia-Ukraine war have contributed significantly to this issue. Additionally, the presence of large grain reserves being held hostage to the world by Russia have also put pressure on market prices of other goods.

Should Costs Models are an amazing way to track all the cost inputs that go into your finished products -  from chocolate spread to lasagna. 

So what are "Should cost models?" They could be the future of cost control for food procurement teams as they look to control the impact of changing prices for individual ingredients and associated inputs and raw materials. They enable procurement teams to easily generate cost breakdowns including labour and packaging for current, planned or future products.

Mintec launch new Market Outlooks to enhance their analytics capabilities. Mintec Analytics customers can now access increased market analysis as part of their premium subscription.