Recent Posts
Deciphering the Ripple Effect: How Raw Material and Commodity Ingredient Price Fluctuations Shape Your Product Costs.
Unveiling the Power of Cost Models: Essential Tools for Procurement and Buying Teams
Amidst the relentless chatter surrounding escalating commodity prices and the perpetual fluctuations in product costs, businesses find themselves grappling with a crucial question: how do individual material expenses resonate within the broader framework of product pricing?
Topics: Procurement, Forecasting, cost model
Navigating the Skies: Overcoming Challenges with Procurement Analytics for Airline Food Service
In the world of airline catering, where fast aircraft turnaround times, limited workspace, and stringent regulations reign supreme, the quest for balancing quality and cost efficiency is akin to navigating through turbulence. As airlines strive to meet the soaring expectations of passengers while ensuring profitability, the need for innovative solutions to manage costs becomes ever more pressing.
Topics: Procurement, Forecasting
The Power of Cost Model Forecasts: A Strategic Tool for Procurement
In the fast-paced world of global procurement, staying ahead of market trends and understanding the nuances of commodity raw material prices is not just beneficial – it's crucial. It’s where Cost Model Forecasts step in as an indispensable tool for businesses aiming to not only navigate the intricate landscape of pricing dynamics but also gain a decisive competitive edge.
Topics: Procurement, Forecasting
The BIG SEVEN in 2023 for Procurement Series: #7 Diversity and ESG
Topics: Procurement
The BIG SEVEN in 2023 for Procurement Series: #6 Data Modernization
Topics: Procurement
How can procurement implement strategies to hedge commodity price risk
Procurement leaders can implement several strategies to hedge against commodity price risk and optimize supplier costs:
Topics: Procurement
Best procurement price hedging strategies to manage suppliers' costs?
What are the best price hedging strategies availabe for procurement teams in order to manage their suppliers' costs for commodity raw materials used in private label and branded finished products?
Topics: Procurement
How can commodity market intelligence reduce the Cost Of Goods Sold (COGS)?
What is Commodity Market Intelligence?
Commodity market intelligence is a type of market and price analysis that focuses on providing insights and information about the prices, trends, and dynamics of commodities and raw materials used in various industries. It includes data and analysis on factors such as demand, supply, geopolitical events, economic indicators, and regulatory changes that can impact commodity prices and market conditions.
Topics: Procurement
What to consider when implementing cost performance benchmarking?
When implementing cost performance benchmarking, organizations should consider the following key features and processes:
Topics: Procurement
The BIG SEVEN in 2023 for Procurement Series: #5 Supplier Relationships
Topics: Commodities, Procurement