Flint needed to actively track over 14,000 different raw materials across more than 160 categories, but with a team of just 18 buyers, this was proving challenging. Their process for data collection was hugely time consuming and largely manual. It involved reaching out to suppliers across the industry to request pricing reports. They were concerned that the data was bring driven by the market. They were looking for an independent and reliable source of price data - and a set of tools to help them automate the price modelling and monitoring.
Deciding to outsource data aggregation to Mintec meant Flint’s procurement team were immediately able to access over 2 million data points covering 650 commodity types across 15 market categories. Having a dedicated client services team ensured Flint’s buyers and analysts were able to identify and work with the most relevant data sets. Plus, by leveraging cutting edge price tracking and cost modelling tools available through Mintec’s platform, Flint’s procurement team are now able to automate time-consuming analytics - saving the entire team valuable time and internal resources.
The independent nature of Mintec’s pricing data and market insights supports Flint in ensuring they are sourcing raw materials at the right price - and selling to customers with the right margins. The independent insight from Mintec that Flint uses to justify pricing decisions has helped strengthen relationships with both customers and suppliers. With Flint’s procurement team now also using pre-built analytics and cost-modelling tools available through Mintec’s platform has resulted in additional efficiency - freeing up valuable time for both buyers and analysts.
See how Mintec has implemented GateGroup's raw materials and commodity price tracking services through Mintec Analytics, its proprietary commodity price dashboard and analytics platform.
Find out how Mintec data has helped Brakes get a reliable, independent view of the market to inform their conversations with suppliers, sales teams and customers.