In just a few hours (10:00 AM CT this morning), I'll be speaking on a Spend Matters / MetalMiner webinar with Lisa Reisman titled: 5 New Sourcing Strategies for Metal Buying Organizations (Using Metal Price Data). Even though the title of the webinar is targeted at metals buying organizations and our examples will feature metals pricing data, the entire presentation will be of use for any procurement organization that must manage underlying commodities across their spend and is interested in the role of both tools and price indexes to help them do it. Included in our discussion is an overview and demonstration of how leading-edge organizations have begun to embed price data into procurement applications as well as examples of how companies are using price data to build more statistically sound forecasting and predictive models.
During my talk, I'll share specific examples of how companies are embedding price index information in spend analysis, e-sourcing/optimization and commodity management toolsets -- as well as how these varying technologies can be used to manage commodity volatility in different ways. I'll also touch on the use of commodity price index information within contract management, demand aggregation and other procurement related technologies. Going into the discussion, itis my hypothesis that price index data should become a core to enabling a new level of visibility & transparency into spending and buying activity in different areas of the organization including design/engineering, procurement, etc.
Moreover, I hope to show how price index data can be used across a variety of procurement and commodity management applications and is far more valuable embedded in tool sets that on a stand alone basis. But at the same time, given the nascent understanding of this market from a vendor perspective within procurement, organizations need to seek out data sources at this point as their solution providers are just beginning to partner with data providers. If this topic is of interest (regardless of what commodities you source and manage) do considering joining me today at 10:00 AM CT today for: 5 New Sourcing Strategies for Metal Buying Organizations (Using Metal Price Data). Drop a line if you can't make it and are interested in the content. We'll be featuring a replay of the material shortly after the recording is complete.