Navigate the expansive universe of market indexes with Prognos. With countless indexes available, selecting the ones that best represent your unique needs can be challenging. Selected Indexes simplify this process, helping you find, understand, and choose indexes relevant to your supplier base. We know how to select and use available indexes to give you the upper hand in your negotiations.
How Selected Indexes works
The Prognos Selected Indexes service grants you access to an extensive array of market indexes and cost data. This comprehensive access enables you to pick the right index, monitor price trends, and use this information effectively in negotiations. Share the commodities, assets, or cost factors you want to monitor, and we assist you in:
- Identifying and choosing the appropriate indexes, guiding you on how to select an index that best represents your specific case and needs.
- Understanding the differences between the various available indexes.
- Learning how to apply the indexes, such as metal prices charts, in your negotiations.
The Prognos advantage
Prevent unfair price increases
With the data, insights, and indexes provided by Prognos, you are no longer at the mercy of your suppliers. You can confidently challenge and counter any proposed price increases, preventing suppliers from imposing unjustified price hikes.
Achieve cost reductions
Our service goes beyond preventing cost increases – it also helps you identify opportunities for cost reductions. When market trends downwards, our service equips you with the knowledge and data, whether to negotiate for lower prices or to prevent unjust price increases.
Gain access to relevant data
We believe in the power of informed decision-making. Prognos provides access to pertinent data, giving you a comprehensive overview of the market for when the prices rise and fall. This allows you to make strategic decisions, backed by concrete data.
Facilitate fact-based negotiations
Armed with the right data, you can negotiate based on facts, not assumptions. Prognos Selected Indexes service lays the foundation for effective, fact-based negotiations, enabling you to secure the best possible terms.
What Indexes do we handle?
The Prognos Selected Indexes service covers a wide range of indexes, including but not limited to:
- Raw Material
- Manufacturing Costs
- Tax & Transport
- Labour Costs
Overcoming your challenges with Selected Indexes
Customers often lack the necessary knowledge to understand the data presented by suppliers, leaving them to accept it at face value. Prognos removes this hurdle by providing an alternative source of reliable data and helping you understand and confirm the information presented by suppliers. With our index selection support, you’ll know exactly what data to use and when to act.
The Prognos Selected Indexes service is your answer to opaque supplier practices and the confusion of navigating a sea of data sources. With our guidance, you’ll know exactly what data to use and when to act. Our cost-effective solution gives you the advantage in negotiations and helps you keep track of crucial indices, thereby ensuring you always secure a fair deal.
FREQUENTLY ASKED QUESTIONS
What Challenges Does Prognos Help Address?
What is an index?
An index is a statistical measure that represents the value of a group of assets or a segment of a market. It’s often used as a benchmark to track the performance of financial markets, commodities, and various types of costs. Examples include stock market indexes like the S&P 500, commodities indexes that track the price of oil, gold or other resources, and cost indexes that represent wage trends or economic indicators.
How to select indexes?
- Identify your needs: Determine what you want to track or analyze. This could be the performance of a particular market, the cost of certain commodities, or economic indicators like inflation or unemployment rates.
- Research available indexes: There are countless indexes available, each with its own focus and methodology. Research which indexes align with your needs.
- Evaluate index construction: Look at how the index is constructed. What assets does it include? How does it weigh those assets? Understanding the methodology behind an index can give you insight into what it truly represents and whether it aligns with your needs.
- Consider historical performance: While past performance is not indicative of future results, it can give you a sense of an index’s volatility and how it has responded to different market conditions.
- Seek expert advice: Consulting with a financial advisor or a service like Prognos can help you navigate the vast array of indexes and select the ones that best fit your needs.
Loved by businesses and individuals across
A few days after I received your model I renegotiated the prices with my main supplier. I received a price reduction of 15%, which wouldn’t be possible without this support.
After our previous supplier wouldn’t adjust their prices according to indications from our models from Prognos, we made the decision to look for a new supplier. The funny thing is that the new prices, after the sourcing project, were exactly in line with what Prognos models suggested. This saved us about 20% within this major category.