Commodities Content

What’s the Price: Vendor Introduction (Part 1 — Background and Solution Overview) [PRO]

Successful supplier negotiations begin long before a category manager sits down at the negotiating table, physical or virtual. Effectively sourcing a product or component requires an understanding of the fundamentals driving a category, the competitive dynamics in a given industry, and a negotiation strategy based on realistic prices or savings that procurement hopes to attain.

But more often than not, determining how much something should cost — that is, what procurement should realistically pay for goods or services — is a process supported more by guesswork than by data science. And building such models can be time-consuming: Cost engineers creating clean-sheet calculations of a product’s likely cost often take weeks before coming back with an estimate.

What’s the Price, in contrast, can deliver an estimated price in less than five minutes — for any category, industry or product.

That may sound a bit like magic, and from an end user’s perspective, it can feel that way. But beneath the hood, WTP, a five-year-old Dutch vendor founded by two former senior procurement professionals, relies on a straightforward approach, underpinned by a smart application of big data.

WTP aggregates prices and cost drivers across hundreds of thousands of mostly public data sources to produce top-down estimates for commodity prices, industry cost structures and product cost models. The result is a fast and reasonably accurate expected market price that procurement can use to set the stage in supplier negotiations, putting the buy side on stronger footing against price increases or “black box” quotes from sales reps.

Part 1 of this Spend Matters PRO Vendor Introduction offers an overview of What’s the Price and its capabilities. Part 2 includes a look at WTP’s product strengths and weaknesses, a company SWOT analysis, and a selection requirements checklist for those that might consider the provider.

Commodities Roundup: Palladium soars; steel slides; auto tariffs loom over U.S.-E.U. trade talks

For the buyers and category managers out there, especially those of you deep in the weeds of buying and managing commodities, here’s a quick rundown of news and thoughts from particular commodity markets. MetalMiner, a sister site of ours, scours the landscape for what matters. This week:

Mintec: Vendor Introduction (Part 2 — Positives and Negatives, SWOT Analysis, Selection Checklist) [PRO]

As we indicated in Part 1 of this Spend Matters Vendor Introduction of Mintec, there is no WaaS (weather-as-a-service) and, as a result, commodity price volatility in the agricultural sector is here to stay for the foreseeable future. But procurement professionals have to manage it somehow, and the only solution they have now is commodity market intelligence, of which Mintec is one of the largest, and oldest, market-intelligence providers in the sector.

With a database of over 14,000 unique market data sets across 20+ commodity categories and truly global geographies, Mintec is the go-to source for many large agricultural buying organizations around the world.

Should they be your go-to source too?

In this second part of our introduction, we’ll look at the positives and negatives and provide an overall SWOT and a selection checklist — all of which can help you make an informed decision.

Mintec: Vendor Introduction (Part 1 — Background and Solution Overview) [PRO]

No matter how well they prepare, commodity buyers can do nothing about the weather. So until a supervillain decides to make a mid-life career shift to be a SaaS vendor — weather-as-a-service (WaaS), anyone? — procurement organizations buying in the food & beverage categories will have to manage commodity price volatility as it happens.

To do that, many businesses in the food retail, food manufacturing and hospitality industries turn to Mintec. Founded in 1982, Mintec is a UK-based provider of commodity data and analytics tools for the food and drink vertical. It collects, validates and organizes data across hundreds of agricultural commodities and related inputs (e.g., packaging, plastics, labor), which it then distributes via a SaaS platform designed for category planning and analysis.

This Spend Matters PRO Vendor Introduction offers a candid take on Mintec and its capabilities. It includes an overview of Mintec’s SaaS offering (Mintec Analytics). Part 2 will offer a breakdown of what is comparatively good (and not so good) about its solution, a SWOT analysis of Mintec, and a selection requirements checklist for businesses that might consider the provider.

Commodities Roundup: AI in mining; falling steel prices; September auto sales

For the buyers and category managers out there, especially those of you deep in the weeds of buying and managing commodities, here’s a quick rundown of news and thoughts from particular commodity markets. MetalMiner, a sister site of ours, scours the landscape for what matters. This week: AI in mining in Arizona, falling steel prices, changes from the London Metal Exchange and September auto sales.

Commodities Roundup: Mining and metal deal values fall; Indian gold sales drop; protests impact No. 1 copper producer

For the buyers and category managers out there, especially those of you deep in the weeds of buying and managing commodities, here’s a quick rundown of news and thoughts from particular commodity markets. MetalMiner, a sister site of ours, scours the landscape for what matters. This week:

Commodities Roundup: Copper supply grows, U.S. oil exports, China’s steel capacity

For the buyers and category managers out there, especially those of you deep in the weeds of buying and managing commodities, here’s a quick rundown of news and thoughts from particular commodity markets. MetalMiner, a sister site of ours, scours the landscape for what matters. This week:

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For the buyers and category managers out there, especially those of you deep in the weeds of buying and managing commodities, here’s a quick rundown of news and thoughts from particular commodity markets.

MetalMiner, a sister site of ours, scours the landscape for what matters. This week:

Commodities Roundup: WTO rules on Airbus subsidies, GM strike drags on, steel prices decline

For the buyers and category managers out there, especially those of you deep in the weeds of buying and managing commodities, here’s a quick rundown of news and thoughts from particular commodity markets. MetalMiner, a sister site to Spend Matters, scours the landscape for what matters. This week:

Commodities Roundup: China’s steel production rises; U.S. seeks rare earths sources; gloomy copper forecast; September auto sales decline

For the buyers and category managers out there, especially those of you deep in the weeds of buying and managing commodities, here’s a quick rundown of news and thoughts from particular commodity markets. MetalMiner, a sister site of ours, scours the landscape for what matters. This week:

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For the buyers and category managers out there, especially those of you deep in the weeds of buying and managing commodities, here’s a quick rundown of news and thoughts from particular commodity markets. MetalMiner, a sister site of ours, scours the landscape for what matters. This week:

Commodities Roundup: EU revisits steel quotas; GM worker strike; oil prices rise after attack in Saudi

For the buyers and category managers out there, especially those of you deep in the weeds of buying and managing commodities, here’s a quick rundown of news and thoughts from particular commodity markets. MetalMiner, a sister site of ours, scours the landscape for what matters. This week: