Opportunity Insights Follow

Opportunity Insights helps you uncover savings opportunities by analyzing internal price variances and external market benchmark prices. It also offers insights to help prioritize your focus and shape your negotiation strategy.

• A single MPN can have multiple price points across your supply chain, creating savings opportunities if all purchases are made at the lowest price.
• External benchmark prices guide what a part "should cost," the difference between your current price and the benchmark reveals potential savings.
• The percentage difference between your price and benchmark provides a strong foundation for requesting better pricing, moving the conversation from a fixed price target to an overall percentage reduction. 

Savings Opportunities

$ Savings Opportunity TOTAL summarizes the total of the most significant opportunity type per MPN.

That total is then broken down into two groups:

•  Internal (Customer) Opportunities - "You already have a better price" : savings opportunities where you already have a lower price for the same part somewhere else in your supply chain.
• External (Market) - savings opportunity from comparing your pricing to the market and benchmarks. Shown as -
  • “LevaData has better Benchmark prices”
  • “Distributors with better price”

The Insight Savings Opportunities panel summarizes potential savings by insight type, benchmark source, and MPN count.
It highlights where you already have a better price, where distributors offer better pricing, and where LevaData benchmark prices indicate additional savings opportunities.
The panel also displays the total estimated savings available if these insights are acted upon, helping you evaluate and prioritize opportunities for future spend.

Benchmark Scatterplot

% Over Benchmark, a proprietary metric exclusively offered by LevaData, is the percentage difference between your current price and benchmark prices. It reflects the percentage discount you should request from a supplier to bring your pricing in line with the benchmark for specific parts. This metric allows for more effective supplier negotiations, focusing on a broader reduction in overall spend, which provides stronger leverage.

In the chart below, each dot represents the percentage over the benchmark for each part with potential savings. The red line highlights the median percentage over the benchmark for the parts in the current view, indicating an aggregate target discount. Instead of concentrating on individual part prices, you can leverage this metric to drive overall cost reductions.

Vendor Discount Performance

The Manufacturer % over Benchmark Average and Saving Opportunities Details by Manufacturer rank vendors, providing an aggregated view by vendor. This helps prioritize which vendors to focus negotiation efforts to align your pricing with market benchmarks.

The bars in the chart below represent each vendor's percentage over Benchmark, while the red line indicates the median percentage over Benchmark for all vendors in the view. Essentially, this visual represents the percentage over Benchmark data from the Opportunity Workflow Status by Manufacturer table.

NOTE: The Bar Chart has a limit on the number of points it can display. Therefore, the % Over Benchmark in the Bar Chart may not match the Vendor Savings Opportunity table summary value. For a single vendor, the % Over Benchmark in the Bar Chart will always match the Manufacturer Savings Opportunity table.

Manufacturer Savings Opportunity

The SAVINGS OPPORTUNITY table summarizes Opportunity Savings at Part level, MPN Cost Vs Recommended Cost, and % Over Benchmark for the MPNs in the current view, sorted in descending order of Opportunity Savings. Clicking on an entry filters the other charts and tables on the screen, enabling a quick and focused analysis.

Benchmark Types