Mintec Analytics Cost Model | Cost Models in Procurement

What are Cost Models?

A simple yet powerful tool within Mintec Analytics that allows you to build a complete picture of your finished products, visualise the breakdown of their costs and fully comprehend how they are being impacted based on changing markets or supplier prices.

How can you use them?

A user-friendly collapsable menu allows you to go as in-depth as you like into your model. Simply add your raw materials or add packaging, transport, energy, labour and other costs for a more detailed overview.

Need to add your own data?

Automate the bulk integration of your supplier data, third party data and Cost Models into Mintec Analytics to get the most complete view of your product costs.

Want to share Cost Models?

Build and share an unlimited number of Cost Models across your organisation and ensure a consent view of product costs.

The Benefits

Cost Models in procurement enable buying teams to build a cost effective procurement strategy. Cost models and should cost models, provides a complete breakdown of ingredients and other direct and indirect costs for individual products across your entire product range.

Model Product Cost

Understand how to build a cost model and how to use cost models in procurement. It's quick and easy to build accurate Cost Models of your finished products that include raw materials and associated costs. Then track your spends and benchmark your actual purchase costs from suppliers with wholesale market costs from Mintec.

Price Visibility

Price Change Report are a quick way to visualise what price changes are impacting the cost of your finished products at regular intervals.

Negotiation Pack

Create detailed reports combining all the price movements and key market drivers for all your ingredients, direct and indirect costs for any of your products.

Interrogate Data

Drill down to gain insights into the trends and patterns behind what is driving your overall product costs.

Cost Breakdown

Burst your Cost Model into separate price graphs for each individual product component- all in one place. Understand the Purchase Price Variance of individual ingredients and materials.

Import Data

Combine actual supplier prices with wholesale market prices using the Mintec Import API to make comparisons at SKU and category level to benchmark your supplier performance.