Mintec Analytics 4.1 includes new features that increase price visibility and improve efficiency for commodity buying teams. This latest release features additional capabilities that enable buying teams to understand commodity price changes better, deliver greater control over costs and contribute to improved business performance. New features include:
• Multiple Price Change Reports
• Price Forecast Charts featuring RSI and MACD technical analysis
• Enhanced search and usability
Spencer Wicks, CEO of Mintec, said, "We are delighted to launch the latest version of Mintec Analytics in response to our customers' needs. The features and tools provided by Mintec Analytics 4.1 recognise that procurement teams are challenged to visualise and respond to price changes across the significant number of products they manage."
The release includes the ability to create multiple Price Change Reports enabling users to visualise changing commodity prices quickly (see Image). These reports can be customised to reflect a specific product specification and individual user needs. Buyers can also link the commodity prices in these reports to alerts to control when and how they are notified of changing prices affecting their products.
In addition, a new library of cost models and commodity dashboards delivers greater efficiency to procurement teams by providing pre-built templates that can be copied and customised to meet individual product specifications as required. Using these libraries, procurement teams can create models and dashboards faster and increase their overall efficiency.
Furthermore, by building on the release of price forecasts, users can now include technical analysis alongside price charts. RSI and MACD charts can be displayed parallel to price charts making it easy for users to analyse price trends alongside technical analysis and take data-driven decisions. Finally, changes to search capabilities and the organisation of market insight, analytical reports, and commodity webinars increase usability and enable users to access intelligence quickly from the desktop or the mobile app.
Mark O'Sullivan, Head of Technology at Mintec, went on to say, " Digital transformation remains a critical goal for the most advanced procurement teams. These additional capabilities are significant enhancements that enable users to get the most from the Mintec data and tools quickly and easily. By embedding these activities within their current workflows and existing tools such as the alerts, users can get the broadest picture of how price inflation and changing prices affect their business's profitability."
Mintec enables the world's largest food and manufacturing brands to implement more efficient and sustainable procurement strategies. We do this through our cutting-edge SaaS platform, Mintec Analytics, which delivers market prices and analysis for more than 15,000 food ingredients and associated materials. Our data and tools empower our customers to understand prices better, analyse their spend and negotiate with confidence.