On-Line Price Benchmarking Transforms Metal Purchasing
Buyers now have visibility into true market prices for many common ferrous and nonferrous metals for raw materials price comparison.
Posted: November 2, 2015
Supply Dynamics LLC (Cincinnati, OH), a leading provider of innovative supply chain visibility software solutions, has announced the launch of Price Dynamics™, a technology that harnesses the power of the crowd to help anyone purchasing industrial metals to understand true market price for many common ferrous and nonferrous metals. With this system, true market pricing is based on what actual buyers have paid or been quoted while making similar purchases.
Coupled with access to a directory of distributors, mills, and processors, Price Dynamics is a one-stop-shop for determining how raw material prices stack up to the prices paid by other buyers and for identifying alternative sources of supply. This web-based service is secure, anonymous, and provides a basic level of bench marking information at no charge.
“Much like an automobile sticker price, metal catalog prices are subject to a number of variables and are not necessarily a good measure of fair market price,” explains Trevor Stansbury, the founder and president of Supply Dynamics. “This system is based on the premise that a community of actual buyers and not the sellers is the best way to gauge actual market price. It is a gathering place where hundreds of metals buyers from dozens of industries can privately and securely compare metals prices and evaluate all known sources of supply. Armed with reliable statistics about what others are paying for the same raw material allows buyers to confidently and consistently secure optimum pricing.”
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