Work with SpendEdge to activate data-driven procurement solutions and commodity price forecasting while minimizing supply chain disruptions.
Raw Materials and Commodity Price Forecasting
Monitoring commodity price forecasting and trends play 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 commodity price 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 commodity price forecasting and tracking needs or to gain a better understanding of the procurement services offered by SpendEdge.
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.
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.
Thank you for delivering such comprehensive reports; these are well done. You’ve adequately addressed our questions.
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Transitioning your category procurement strategy beyond cost-saving and into a strategic function of the organization.
Over recent years, there have been various industry developments that served as or caused trends in procurement. These procurement trends include technology changes, novel strategic approaches, new processes, and necessary adaptations to change. As supply chains become increasingly complex, procurement has become highly crucial and influential in the production process and continues to grow.
Supplier risk assessment and major procurement pain paints for the medical devices industry. Request a Free Proposal to know how we can help you.
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