Pricing management for Procurement

Would you like to be one step ahead of the competition?
I am sure you collide with many companies in your industry. You have to overcome easy access to goods or services and struggle for prices, which further exacerbates the competition.

Learn a story of our client who wanted to enhance his procurement department work by monitoring prices of products, components, and ingredients regularly.

Business goal

Our client, a global manufacturing brand, started an aggressive development plan to get more customers at a better price. To pursue this goal, making meaningful data transformations and analyses. In addition, he wanted to monitor the prices of products, components and ingredients from different sources on an ongoing basis to provide an automatic forecast of price behaviour in the market.

Effects

Distributed Excel files without defined standards and proper security resulted in low data quality, lack of controls, and unreliable forecasts. Therefore we introduced an innovative solution giving a deep insight into the client’s purchasing processes, improved workflow, and speeded decision-making.

01

We adopted Machine Learning to detect patterns in data from different sources (internal and external) and adjust actions accordingly so that the real-time price comparison becomes possible.

02

We delivered information in a structured way and perfectly visualized it by the Microsoft Power BI. As a result, it allows people in charge to make decisions faster and more efficient way.

How did we overcome obstacles

Enter the client’s business environment, working with large teams, distributed data and systems is always a challenge. Our overriding goal, however, was to provide measurable value – optimization and improvement of profitability. That is why we:

Exploited Soft Systems Methodology to understand how things are interconnected.
Delivered MVP to show tangible benefits.


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