Cost models
Gain a comprehensive understanding of the full costs that affect your bottom line using Expana’s cost models. Expana’s cost models enable businesses to track the impact of changing raw material costs on individual products. Cost models serve as indispensable tools for buying, sourcing, and category groups, offering a strategic advantage in today’s competitive landscape. By understanding how market conditions affect material costs, businesses can optimize prices, refine tactics, and adapt strategies based on real-time data.
Your insights, your way
Integrate your supplier data, third-party data, and cost models to get a comprehensive view of your product costs.
Cost models facilitate the alignment of supplier costs with market prices, enabling businesses to benchmark their procurement practices. By comparing actual supplier prices with prevailing market rates, organizations can justify price adjustments and ensure competitiveness in a dynamic environment.
Cost model forecasts
Our global commodity cost models provide a complete breakdown of ingredients and other direct and indirect costs for individual products across your entire product range. For a comprehensive and detailed overview of the costs that affect your bottom line, simply input your raw materials or packaging, transport, energy, labor, and other costs. And because Expana cost models predict how raw material price changes impact individual products and affect profitability and competitiveness, our forecasts empower our clients to:- anticipate costs up to 18 months ahead for better decision-making
- analyze cost components and price trends to plan strategically
- get detailed breakdowns to identify the factors driving cost changes
- anticipate costs up to 18 months in advance for more informed decision-making
- analyze cost components and price trends, enabling strategic planning
- obtain detailed breakdowns to pinpoint the drivers of cost fluctuations
Model product cost
You can quickly and easily generate precise cost models for your products, including the costs of raw materials and other associated costs. Then, keep track of your spend and compare your purchase costs from suppliers with the market costs from Expana. Our global commodity cost models will help you:- you can quickly and easily generate precise cost models for your products, including the costs of raw materials and other associated costs. Then, keep track of your spend and compare your purchase costs from suppliers with the market costs from Expana. Our global commodity cost models will help you:
- identify cost drivers: Understand the factors driving price changes and adapt your strategy to the latest market conditions
- adjust sourcing strategies: Adapt procurement approaches based on real-time insights, whether it’s renegotiating with suppliers or seeking alternative sources
- hedge price risks: Use cost model forecasts to anticipate and mitigate risks associated with price volatility, ensuring financial stability
- explore alternative ingredients: Assess the potential of substituting ingredients to manage costs without compromising product quality
Bilal Shaykh
Group Procurement Director
Essential intelligence at your fingertips
Expana’s cost modelling empower global procurement teams and business leaders to take the reins on costs, mitigate price risks, and boost efficiencies by utilizing comprehensive market intelligence.