Cost modeling: You asked, we delivered!

10/04/2020 by Maxime Cournée

We have always believed that cost modeling was key for anyone involved in commodity buying or selling.

Tracking commodity prices is good, knowing the impact they have on the finished product is even better!

We are pleased to share the excellent news that we have completely re-thought the way cost modeling works in CommoPrices. The three main benefits are: a better visibility, more functionalities and the ability to share your models.

First thing first, you can now create models in €/kg or any other currency/unit. In our previous version you could only create indexed models and we understand it was not ideal. You can now the exact cost of commodities in your product.

You will notice an Indexing button above your graph tht you can use if you would rather keep your index model as it used to be in the previous version.

The second change is that you can now use a model within an other model. You can now easily build a chocolate model (by blending sugar, cocoa and milk powder) that you can re-use in your chocolate tart model, pain au chocolat model, chocolate cookie model, etc…

Finally - and after many requests- you can now share the models you created with your colleagues in just one click.

You will find a bar at the bottom of each model with an Administrate button that you can use to give access to any of your teammates.

Not sure how to build models? You can check the entire process in our FAQ here.