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