May 17, 2020

Mintec launches procurement platform to transform buyer-seller relationships

Mintec
procurement platform
Data
Analytics
Sophie Chapman
2 min
Mintec launches procurement platform for covering data and analytics
The food and raw material pricing data firm, Mintec, has released its new procurement platform.

The platform, which is powered by Robotic Process Autom...

The food and raw material pricing data firm, Mintec, has released its new procurement platform.

The platform, which is powered by Robotic Process Automation, targets procurement professionals, aiming to transform negotiations between buyers and sellers.

Mintec Analytics offer pricing information for more than 11,000 commodities, as well as analytics tools.

The platform can offer insights into key drivers, market events, weather patterns and other critical factors impacting price.

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“The typical buyer and seller have less than 10% of their time available for research ahead of price negotiations,” stated Tony Pauley, CEO of Mintec.

“To properly prepare market analysis on raw materials and finished goods, with long and increasingly complex supply chains, can take a week or even more. With both parties often responsible for managing many products, there is often not enough time available to adequately prepare for all negotiations.”

“As a result, focus is typically on the top 5 or so spends, leaving the remainder largely ignored. This often results in missed opportunities for smaller products.”

“We have leveraged the latest technology to build advanced analytics tools which allow our clients to automate, accelerate and simplify data querying, analysis and modelling,” continued Spencer Wicks, Managing Director of Mintec.

“This will unlock new levels of insights and drive increased value from the data we provide.”

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Jul 19, 2021

Vizibl: The Future of Supplier Relationship Management (SRM)

Vizibl
Procurement
SRM
supplychain
3 min
How Vizibl is pioneering the future of SRM with more open and collaborative relationships between procurement organisations and their suppliers

Even the best procurement team on the planet can only derive so much value from their suppliers by tinkering with spreadsheets or negotiating another half-percent-per-unit from a regular bulk-buy. 

The value of relationships count in today’s fast-paced and disrupted business environment, where partnerships, future efficiencies and risk mitigation are just as vital a measure of an organisation’s maturing procurement organisation as overhead reduction.  

A recent McKinsey survey into 100 large organisations found that the more cooperative an organisation, the more financially competitive it could become. "Companies with advanced supplier-collaboration capabilities tend to outperform their peers,” it found, but also admitted that this value is not a simple thing to access. 


Visibl is a company built from the ground up with the philosophy of ‘delivering mutual value' in mind. Its digital procurement platform is designed to place collaboration at the centre of supplier relationships. Greater transparency for all stakeholders not only simplifies and quantifies contractual obligations, but also provides opportunities to discover and align on common goals and business objectives.

How does Vizibl’s platform work? 


Vizibl’s supplier relationship management platform feeds off data. By leveraging data from existing enterprise applications such as ERP, P2P, risk management, or project management systems, all stakeholders can share a central source of truth. The result is greater transparency, visibility and accountability on both sides of a contract. The platform is divided into several focus areas: 

  • Vizibl Relationships: This system helps organisations move beyond transactional interactions with their suppliers, instead building trust and applying a governance framework that is both scalable and consistent to better support core business objectives. 
  • Vizibl Workspace: Operating in one virtual workspace removes friction in collaborative endeavours and aligned initiatives. Vizibl Workspace enables partners to drive goals together, whether improved cost-savings, ESG commitments, new product launches or boosting operational efficiency. 
  • Vizibl Reporting: Measuring results is critical in achieving business objectives, forward planning and risk management. This system helps business leaders leverage actionable data to quantify and drive initiatives, support and mange supplier performance, and understand true ROI. 



Key Vizibl customers: Heineken, Vodafone, Astellas 

“Gartner lists supplier collaboration as supply chain leaders’ number one focus to solve for agility and resilience”

Speaking to SupplyChainDigital.com earlier this year in June, Mark Perera, CEO and co-founder of Vizibl said: “We work with companies across multiple industries, but regardless of sector, we really see agility and resilience as overarching topic areas in the supply chain. From a resilience perspective, that’s both in terms of operational resilience, but also strategic resilience; we see organisations looking at implementing the desired levels of flexibility and the ability to change with demand, as they look towards the future of their company.”

“Gartner lists supplier collaboration as supply chain leaders’ number one focus to solve for agility and resilience,” he added. “The mindset and process change to switch to a supplier collaboration model will be a challenge for organisations that are falling behind.” 

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