Custom Part Intelligence: Metals Follow

Custom Part Intelligence analyzes your metal part spend and provides insights into price variance among different suppliers. This helps you to identify cost discrepancies which can prevent overpaying and inform a decision towards allocation shifting. Seeing spend data over time helps you to budget and forecast to make sure that your allocations for upcoming quarters are accurate.

Custom Spend Intelligence (Metals)

1. Metals parts spend information is presented in a variety of charts and tables.
2. There are dropdown menus to view other charts.
3. Summary Metrics and Opportunities are highlighted in a similar way to Spend Awareness.
4. Date Picker allows you to select the date range of analysis to review. Since you can upload new data with new dates anytime, it’s important to limit data in this view to the time range you want.

Price Variance (Metals)

When you look at Price Variance (sub-tab 2), you can (1) choose specific date range for analysis, (2) select a Metal Material Spec Thickness for analysis, and then (3) see the price differences and variance in what you are paying.

Further down the interface you can see the Price Variance Details sorted by Material Savings Opportunity. This should identify for you the exact specs at the exact date where you can realize the largest cost savings from your custom metal parts.

Customer Loaded Data (Metals)

Customer Loaded Data allows you to review custom part information you have uploaded. Users can load additional metal custom part data any time and have the date stamped and included as part of this analysis.

1. Controls allow you to filter between suppliers, material specs, CPNs and CPN Descriptions.
2. Analysis date allows you to pick specific time periods if you have loaded many different months of data.
3. Analysis breakdown lets you choose specific product locations in the table.
4. The table will have all of these custom metal parts with the attributes listed including but not limited to Named Destination, Press Tonnage, Metal Material Spec cost per kilogram, etc.

Conclusion

Understanding the internal price variance for your custom metal parts is crucial for maintaining cost controls and evaluating the efficiency of your production process. Estimating the cost of custom metal parts comes with inherent difficulties and evaluating the variance of these custom parts improves accuracy in your sourcing and production process.

We hope that you take advantage of LevaData Platform's Custom Part Intelligence: Metals feature to give your organization the edge in competitive pricing and operational efficiency. If you are not currently using this feature, reach out to your customer success manager today to discuss how you can start loading custom metal parts.