Mintec launches procurement platform to transform buyer-seller relationships

By Sophie Chapman
The food and raw material pricing data firm, Mintec, has released its new procurement platform. The platform, which is powered by Robotic Process Autom...

The food and raw material pricing data firm, Mintec, has released its new procurement platform.

The platform, which is powered by Robotic Process Automation, targets procurement professionals, aiming to transform negotiations between buyers and sellers.

Mintec Analytics offer pricing information for more than 11,000 commodities, as well as analytics tools.

The platform can offer insights into key drivers, market events, weather patterns and other critical factors impacting price.

SEE ALSO:

“The typical buyer and seller have less than 10% of their time available for research ahead of price negotiations,” stated Tony Pauley, CEO of Mintec.

“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.”

“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.”

“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,” continued Spencer Wicks, Managing Director of Mintec.

“This will unlock new levels of insights and drive increased value from the data we provide.”

Share

Featured Articles

Aniebo Etudor from Baker Hughes to speak at P&SC LIVE Dubai

Aniebo Etudor, Executive Director of Supply Chain Operations at Baker Hughes, is set to appear at Procurement & Supply Chain LIVE Dubai

She is PepsiCo Celebrates the Best of Women in Supply Chain

PepsiCo is celebrating the work and success of women working across supply chain, procurement and manufacturing through its She is PepsiCo initiative

DHL Unveils Global Connectedness Report for 2024

DHL's report reveals globalisation reached a record high in 2022 and remained close to that level in 2023, despite a series of global shocks

Alberto Medina, Founder of Telescope at P&SC LIVE Singapore

Digital Supply Chain

Panasonic Connect: Using AI to Solve Logistics Challenges

Logistics

Sphera: The Top Risks Impacting Global Supply Chains

Supply Chain Risk Management