Procurement leaders are increasingly asking what digital transformation means for them and how they deliver it for their organisation.
The challenge caused by a lack of time and resources limits their ability to integrate and analyse disparate data sources. The result is an incomplete picture where a lack of clarity restricts collaboration, hinders the ability to standardise processes and maximise efficiency savings.
Furthermore, the lack of granular raw material price data prevents effective cost modelling from monitoring price volatility's effects on product costs.
Mintec implemented its raw materials and commodity price tracking services through Mintec Analytics, its proprietary commodity price dashboard and supply analytics platform.
Mintec Analytics gives them access to:
Integrated raw material and commodity analysis
Personalised price dashboards for supplier contract management
Market insight, short-term outlooks and extensive price data
Fast reporting to help you access the information you need
Benchmarking supplier pricing across a range of commodities
Mintec data and procurement tools have become an integral part of our customers' procurement and product strategies. The breadth of data and access to the insight it provides supports their commercial teams. It helps them free-up valuable time and resources to focus on their core roles – sales, supplier negotiations, and supply strategy.
Mintec Analytics was able to consolidate their workload of manual market tracking and create customised dashboards and cost models for a wide range of products, all of which can be updated regularly and in bulk using data integration tools APIs.