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Pricing & Purchasing - Supply Management

Achieve cost savings. Master spending. Drive procurement excellence.

More than 75% of procurement professionals believe input cost, productivity and supply-demand analysis are critical for supplier negotiations, yet fewer than 40% possess this insight. IHS Markit is here to help. For more than 40 years, our Pricing & Purchasing team has equipped the purchasing community with information, expertise and analytics on the world's commodity markets and the key factors that drive them. We deliver 10-year price forecasts with award-winning accuracy and deep insight into your suppliers' cost structures so you can cut spending, assess your buying performance and favorably negotiate purchase contracts.

We've aligned our services with your workflows to offer subscriptions by industry and commodity. This way, you can find the best purchasing advice for your industry matched with the commodity input costs for your products. Nowhere else will you find this breadth of commodity price coverage: 500,000+ historic prices, 4,000+ forecasts, costs and wages, and 200+ cost models across 60 geographies.

Our team has helped 12,000+ clients save more than $1 billion in aggregate and can help you with:

  • Sourcing – Monitor prices and pinpoint the best times to make key purchases
  • Contracting – Negotiate contract escalation clauses based on IHS Markit escalation rates
  • Supplier cost insight – Assess supplier quotes based on input costs and market fundamentals
  • Benchmarking – Track prices to evaluate purchasing performance
  • Budgeting – Prepare budgets and financial reviews based on accurate forward-pricing data

Customer Testimonials

"Because of your support, we were able to calculate price adjustments on the multiyear contracts that were significantly less than those based on the improperly inflated aircraft manufacturing index and we were able to avoid a cost of $520.6 million."

- US Department of Defense

"In the first year alone, we achieved $60 million in cost savings in materials procurement."

- Global Electronics Manufacturer

"IHS Markit advised us not to enter into a contract with locked-in prices based on our estimates that steel prices would spike temporarily, then return to previous levels in the near future. We saved over US$10 million by heeding IHS Markit recommendations and delaying the purchase."

- Global Oil and Gas Company

"IHS Markit provided us with the tools and data to build a composite spending index. Armed with this information, we demanded price adjustments from our suppliers. As a result, we reduced our procurement spend by 10%."

- Chemical Manufacturer

"We buy a lot of steel sheet and we needed to lock in prices for the coming year before those costs increased. Working with IHS Markit analyst, John Anton, we found that a recent weather disruption and several other factors had resulted in an artificial price spike for steel sheet. John advised us to buy on the spot (not on contract) and we wound up saving over $10 million."

- Fortune 500 Automotive Manufacturer

"We use IHS Markit as a trusted advisor because we know that we can rely on the quality of the data and the people on the team, their expertise and experience. That's a big advantage for us as we work together to promote operational excellence."

- Global Oil and Gas Company

Products & Solutions

Find price and cost analysis, forecasting and coverage by your commodity or industry.

Pricing & Purchasing by CommodityPricing & Purchasing by Industry
Machine EquipmentEnergy
MetalsFood, Beverage, Consumer & Retail
Paper & PackagingManufacturing

Areas of Expertise

Global SourcingTo compete globally, suppliers must compare prices and wages across countries and regions.IHS global forecast coverage evaluates the total cost of investment around the world.
Purchase Timing & NegotiationIn today's extremely volatile market, knowing when to buy is a decision fraught with risk. Prices often reflect double-digit percent changes from quarter to quarter, complicating purchase decisions. To build up their own margins, sellers pass along price increases in excess of their cost escalations.To help you achieve significant savings, IHS can customize your buying strategies using our accurate and dependable forecasts.
Contracts & Price BenchmarkingNegotiations can break down when both parties disagree over the price to follow. One-sided sources can offer a disadvantage when establishing transparent price contracts.As a third-party source, IHS supports the OEM-supplier relationship by providing transparent, accurate numbers and ensuring both sides use matching concepts in their internal projections.
Purchase Performance MeasurementMany companies deal in materials with no clear market price or in markets with few supppliers. Without a transparent benchmark price, it is difficult to measure and improve one's purchasing performance.IHS illuminates obscure markets by measuring prices and escalation rates industry-wide, so you can clearly compare your spend to that of your peers
Budget PlanningAssembling cost projections for each category spend element requires up-to-date, detailed intelligence. Using last year's escalation rate can be a mistake in volatile markets, and broad measures such as the Consumer Price Index fail to capture the individual components that comprise category spend.IHS offers comprehensive forecast coverage that removes the headache from budget planning and accounts for your entire spend.


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