Market Intelligence: Overview Follow
Benchmarking, Part Matching, and Leadtime Trends are all core features of the Market Intelligence module, which provides the necessary functions to discover how competitive your organization's costs are for parts in the market and inform your approach to seeking alternate parts, overcoming sourcing obstacles, and producing better pricing negotiation strategies.
- Benchmarking is done by comparing price data between exact matches of manufacturer parts, removing outliers, and giving users an intelligent distribution range for pricing.
- Part Matching via Alternate Options helps users discover alternative equivalent parts that can meet their exact needs, which diversifies their supply chain and helps remediate a variety of risks.
- Leadtime Trends tracks part lead time trends over time help you understand the proper timeframe for sourcing a part and give you an objective standard of sourceability across suppliers.
Each of these is a core component to Market Intelligence which allows our users to be informed and take action in their sourcing strategy.
Supply Chain Mitigation During Production Process
Buyers need insight awareness of risks and opportunities, e.g.
- How are my costs changing compared to the market?
- How long is the lead time to get my parts?
- How long before my parts are end of life?
- Do any of my manufacturers have serious risks?
- Are any alternative parts available that are form, fit, function (FFF) matches and can close gaps in my sourcing strategy?
Cost to Benchmark Insight
Manufacturer Part Numbers (MPNs) have similar parts which create options in a sourcing strategy. Each MPN has layers of attributes that define a profile of source-ability and performance:
Understanding as many costs as possible helps establish baseline benchmark pricing. With the right level of data insight, these benchmarks can be tracked over time to produce the most accurate representation of cost trends. Armed with this combination of alternate parts, cost benchmarks, and manufacturer prices, a buyer can enter into informed negotiations with their suppliers.
LevaData clusters all matched parts, removes outliers, and calculates pricing percentiles at the 50th, 70th, and 90th percentile benchmark level. Opportunities are calculated out for future quarters.
Learn More About Benchmarking
Part Match Logic
This example features an MPN and the FFF matches it has in our community data. Part coverage is essential for benchmarking success and our Coverage Profile helps users better understand how their parts data can map to our platform to produce actionable insights.
Learn More About Finding Alternate Options via Part Matching
LevaData receives lead time data directly from component manufacturers as well as through third party providers. This data is continually updated in the platform and meant to inform your analysis of suppliers in Market Intelligence and across the platform. Leadtime Trends allows users to filter on subcommodities, manufacturers, and other criteria to really uncover discrepancies in lead times and identify critical alternate sourcing paths.
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