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Mintec's brand new & improved platform, Mintec Analytics, is now live!

Mintec's New Commodity Procurement Platform Set to Transform Negotiations Between Buyers and Sellers

  (UNITED KINGDOM, 11/12/2018)

Mintec, the leading independent provider of food and associated raw material pricing data, has launched a new platform for procurement professionals, powered by Robotic Process Automation.

The new platform, Mintec Analytics, provides independent price information for 11,000+ commodities, in addition to advanced analytics tools. Together, these deliver insights on key drivers, market events, weather patterns and other critical factors impacting price.  

Mintec's CEO, Tony Pauley.

Mintec's CEO, Tony Pauley, believes that this new platform will help transform negotiations between buyers and sellers, enabling them to identify value and agree on market price across a range of categories. This is something which is currently difficult, due to a lack of transparency and the sheer volume of categories being managed.    

"The typical buyer and seller have less than 10% of their time available for research ahead of price negotiations. To properly prepare market analysis on raw materials and finished goods, with long and increasingly complex supply chains, can take a week or even more. With both parties often responsible for managing many products, there is often not enough time available to adequately prepare for all negotiations," stated Pauley. "As a result, focus is typically on the top 5 or so spends, leaving the remainder largely ignored. This often results in missed opportunities for smaller products," he continued.  

Reliable, trusted and 100% independent raw materials pricing data&  insights from a source you can trust.

Mintec Analytics provides both buyers and sellers with current, historical and forecast views, across the key factors driving price fluctuations - from ​supply and demand, currency, interest rates and political stability, to critical events and weather trends. In addition to facilitating more informed negotiations, the increased transparency helps procurement professionals plan longer term purchasing strategies, and source alternative suppliers with greater ease.  

"We have leveraged the latest technology to build advanced analytics tools which allow our clients to automate, accelerate and simplify data querying, analysis and modelling. This will unlock new levels of insights and drive increased value from the data we provide," commented Spencer Wicks, Mintec's Managing Director.

The depth and breadth of Mintec's data allow users to conduct precise analysis, make informed decisions and define their procurement strategy.

Mintec is the leading provider of raw materials pricing and market data. Through its data, analysis and cutting-edge SaaS platform, Mintec Analytics,  empowers the world's leading brands, retailers and manufacturers to implement more efficient procurement strategies. 

About Mintec Ltd.

Mintec has been providing market leading raw material price data and business intelligence tools to leading global procurement teams for more than 30 years. The original founders saw an opportunity to bring the data and tools to market to allow others to leverage the available information in ways that had never been done before.
 
Three decades on, Mintec remains at the forefront. Mintec provides market intelligence to the largest manufacturers and retailers around the world. Using advanced technology, it can do far more with its data than was even imagined a few years ago.
 
Source: Mintec Ltd.

 
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Address: 9 The Courtyard, Glory Park, Wooburn Green
City: High Wycombe
State/ZIP: Buckinghamshire, England (HP10 ODG)
Country: United Kingdom
Phone: +44 (0)162 885 1313
Fax: +44 (0)162 885 1321
E-Mail: [email protected]
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