Commodity Price Forecasting

Activating data-driven procurement planning and decisions and forecasting pricing-related risks, while minimizing supply chain disruptions due to price volatility

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Overview

Raw Materials, Commodities and Services Price Tracking and Forecasting

Monitoring and forecasting price trends plays a critical role in the strategic plan of procurement teams and organizations. It empowers them to make data-driven planning and decisions, forecast pricing-related risks, and proactively manage suppliers while minimizing disruption in the supply chain as a result of price volatility.

Budget planning is a key function of category managers, and depending on the organizational structure, a cross-function role of the finance and procurement teams. Our price forecasting solutions help buyers of commodities, raw materials, and services plan ahead with confidence based on market and price forecast insights for the next 6-, 12-, and 18-month timeframes. Importantly, the benefit of price monitoring and forecasting in different categories within a manager’s product portfolio is that it creates the opportunity to prioritize categories and focus on the most volatile ones, including exploring price hedging as a risk mitigation strategy.

In the recent months, supply chain disruptions due to the coronavirus pandemic have caused unprecedented price volatility and challenged the discipline of forecasting to its very core. As such, our team continues to work with our clients to provide real-time price monitoring and tracking across geographies and based on macro trends such as pandemic developments worldwide, border closings, labor market stoppages, and new laws, rules, and regulations.

Connect with one of our industry expert today to discuss your price tracking and forecasting needs or to gain a better understanding of the services provided by SpendEdge in Price Trend Monitoring and Forecasting.

COMMODITY PRICE FORECASTING

Disruption to supply markets during Covid-19 has impacted many SMBs and large corporations. Our Sourcing and Procurment Intelligence service is assisting clients with Covid-19 Impact Assessment.

Typical Coverage Areas and Key Questions Answered

Typical Coverage Areas

  • Category/Commodity overview
  • Price trends and fluctuations
  • Latest trends and news
  • Overview of key suppliers
  • Price forecasting
    • Price forecasts over the 6/12/18 months time-frame
    • How the commodity/raw material price is likely to move over the next 6/12 months?
    • How labor, fuel and utility prices likely to move over the next 6/12 months?
    • What could the potential impact on over costs of raw material sourcing?
Key Questions Answered
  • What are the recent changes in the market ?
  • What are the latest trends?
  • How is the pricing landscape likely to change in the near and far future?
  • What are the potential impacts on the sourcing and procurement process?

Testimonials

Pricing Insights section is something that our team loves the most. We have always faced challenges in understanding the pricing models, price points and negotiation levers. All these are covered as a part of SpendEdge reports and helps us gain quick insights.

Director, Indirect Categories Procurement, Leading Chemicals Manufacturer

The information was very useful to the category strategy, especially for our local teams. They are very happy with the recommendations that they received from the team.

Director, Leading Metals and Mining Company

Thank you for delivering such comprehensive reports; these are well done. You’ve adequately addressed our questions.

Category Manager, Leading Transportation & Logistics Company

Case Studies

Addressing Volatile Commodity Prices for a Steel Company by Conducting a Price Benchmarking Study

Price Forecasting: An Effective Tool to Identify Profitable Products and Predict Fluctuating Oil Prices

Leveraging Price Forecasting Analysis to Analyze Future Trends and Price Variations for Soybean Oil Manufacturer

Featured Blog:

Tackling Volatile Commodity Prices to Improve Profitability

Featured Whitepaper:

Pricing Experts Track Commodity Price Movements and Shortages to Anticipate Change in the US Energy Market by Analyzing the Impact of COVID-19

Featured Blog:

Should the Global Industry Be Worried About the New Oil Price Forecast? What Should Companies Do to Survive in the Tumultuous Crude Oil Market?

Featured Whitepaper:

Coping with the impact of COVID 19 Enforced Extraordinary Price Volatilities in the Financial Services Market with Smart Crisis Management Measures

Our Expertise

Category Market Intelligence

Transitioning your category procurement strategy beyond cost-saving and into a strategic function of the organization.

Supply Market Analysis

Enabling companies to achieve procurement maturity, enhanced savings and reduced risks through supply market intelligence.

Low-Cost Country Sourcing/Best Cost Country Sourcing

Empowering you to select the most optimal cost sourcing locations, by understanding prime cost advantages and the associated risks.

Benchmarking

Developing a competitive edge and winning strategy through supplier, price and procurement best practice benchmarking.

Spend Analysis

Optimizing an organization’s spend, by effectively identifying, categorizing, visualizing and evaluating in to order identify savings across the supply chain.

Cost Modeling and Should-Cost Analysis

Obtaining visibility of costs across the value chain to make informed suppliers, pricing, risks and budget-related decisions.

Total Cost of Ownership (TCO) Analysis

Estimating the true cost of doing business, including all direct and indirect costs as the foundation for price negotiations.

Supplier Risk Analysis

Leaning on timely proprietary and secondary market research to evaluate the supplier risk profile in order to mitigate risks.

Supply Chain Risk Assessment

Future-proofing operations and profitability against predictable and unpredictable surprises across the supply chain.

Sustainability Practices Assessment

Transforming businesses and procurement practices with a focus on the triple bottom line value generation: financial, environmental and social.

Commodity Price Forecasting

Activating data-driven procurement planning, assessing pricing-related risks, and supply chain disruptions due to price volatility.

Category Management

Transitioning your category procurement strategy beyond cost-saving and into a strategic function of the organization.

Supplier Negotiations

Positioning sourcing and procurement teams for winning negotiations with current and prospective suppliers.

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Contract Management

Increasing confidence and efficiency in contract negotiation and execution, through analysis, insights and best practices. 

COVID-19

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A LOOK INTO THE FUTURE OF THE FOOD AND BEVERAGE INDUSTRY AFTER THE COVID-19 PANDEMIC

Identifying the Top 100 Coronavirus (COVID-19) Test Kit Manufacturers Across Regions

Sourcing and Procurement Market Intelligence Services

Products and Tools

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Category Market Intelligence

Supply Market Analysis

Low-Cost/Best-Cost Country Sourcing

Benchmarking

Spend Analysis

Cost Modeling and Should-Cost Analysis

Total Cost of Ownership (TCO) Analysis

Supplier Risk Analysis

Supply Chain Risk Assessment

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Commodity Price Forecasting

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Supplier Negotiations

Contract Management

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SUPPLY MARKET ANALYSIS FOR A METAL MANUFACTURING COMPANY HELPS ACHIEVE ANNUAL SAVINGS OF $15 MILLION

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Automotive and Tire

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Food and Beverage

Industrial and Manufacturing

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Retail and CPG

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INCREASING LOCAL PROCUREMENT BY 28% FOR A COMPANY IN THE METALS AND MINING INDUSTRY – A CASE STUDY BY SPENDEDGE

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5 KEY CORONAVIRUS RISK ASSESSMENT STRATEGIES TO OVERCOME HEALTHCARE SUPPLY CHAIN CHALLENGES

IDENTIFYING STRATEGIC PURCHASING PRACTICES FOR A COMPANY IN THE US FOOD SERVICE INDUSTRY | SPENDEDGE’S LATEST SUCCESS STORY

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SUPPLY CHAIN MANAGEMENT HELPS AN IMPORT AND EXPORT INDUSTRY CLIENT ENHANCE SUPPLY CHAIN VISIBILITY

REALIZING SAVINGS OF $15 MILLION IN PACKAGING SPEND FOR AN FMCG CLIENT – PACKAGING SOURCING STRATEGY

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