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Supply Chain: Commodity & Material Prices
Focus on purchasing, materials management and logistics
Price benchmark information is vital for analyzing the cost structure of a product or service in order to negotiate the best contract terms and favorable prices. Price escalations in contracts are sometimes tied to the market exchanges or subscription based price sources
Price information is mostly available for raw materials or commodities where standard specifications have been established and there is little variance in their production process. Examples include commodities in base metals, agriculture, energy, pulp and paper, certain steel forms and grades, plastic resins, fertilizers and other chemicals
Because of the high degree of customization in production, published price reports for finished goods are not readily available but are usually obtained through the RFQ (request for quote) or bidding process. Examples of finished goods include fasteners, adhesives, electronic enclosures
Major world commodity exchanges such as LME, ICE, CME-NYMEX, and SHFE
Price benchmark assessments completed by specialized information providers or industry publications and sold to subscribers. There are many such providers worldwide and their reports can be costly
Real time spot and forecast price information require subscriptions. Exchanges allow access to same day, real time price transactions only through their approved vendors such as Bloomberg, Metal Bulletin, etc
Forecasters charge for their analysis; Information providers for collecting and analyzing the data.
In the U.S., government agencies such as the EIA and USDA provide some recent price assessments and forecasts for energy and some agricultural commodities. Price publishing for certain sectors can also be delayed by weeks or months
Trade associations are good sources for supply and demand statistics but very rarely provide prices
Recent or real time prices for the following select commodities and finished goods are available through the following Kresge Library, government and organization resources
Consult the Librarian for price information not listed
Comprehensive guide to the theory and practice of pricing across industries, environments, and methodologies. Explains how prices are set in areas such as electricity, transportation, health and advertising