It’s tough to compete on price without any standard basis for estimating the full cost of delivering a finished product. Inadequate cost visibility in the supply chain leads to inaccurate pricing. The outcome? Weak negotiating power with suppliers leading to ineffective costing. Ultimately, poor visibility into product cost structures are bound to negatively impact savings and other financial targets — leaving money on the table.

GEP NEXXE Should-Cost Modeling software gives you the insights into all cost drivers associated with production: All material costs, labor costs, overhead costs, and profit margins — so that you can achieve a final estimate closer to your target price. Our built-in predictive analytics will help you forecast changes that are most likely to affect your costs. What’s more, the software can identify preferred suppliers for long-term relationships and investments. With a full 360° view of the cost structure, engage in stronger, more confident negotiations on price with your suppliers — yielding up to 20% cost reduction through favorable terms.

SHOULD-COSTMODELING

Centralized, cost-driver based, cost modeling platform

Unified, collaborative function

Cost structures from library of cost elements

Market-index based forecasting

Manage and compare cost models/structures

Cost variation alerts

Sourcing recommendation

Integration with sourcing and RFX

KEY FEATURES

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FACT SHEET: NEXXE

Get ahead of market fluctuations and price variations by leveraging GEP’s automated data aggregation of historical pricing with market indices to intelligently establish targets and baseline prices. Isolate cost elements and compare cost models — to improve supplier negotiations and maximize cost savings across the supply chain.

Upload multiple cost models, and seamlessly connect third-party databases and disparate systems to gain access to the latest data for accurate cost estimates. With the centralized multi-layered cost modeling platform, get access to a library of elements that you can use to create multiple cost models and manage them. Easily flip price elements from within the library to your price sheet and create an RFX instantly.

MAKE EFFECTIVEDECISIONS WITHA DATA-DRIVENSOLUTION

Make your ‘should cost’ into your ‘will cost.’

GEP NEXXE Should-Cost Modeling software is self-sustaining and comes loaded with advanced capabilities. The digital cost modeling solution requires only one-time initial setup with future models requiring ongoing management. Perform real-time evaluation of the cost models across key categories, with no requirements for manual updates on the input price data.

TOTAL VISIBILITYAND ANALYTICSTO DRIVE BUSINESSTRANSFORMATION

Self-sustaining should-cost engine with real-time evaluation

Price element creation in price library

Price and trend analysis

Integration with category workbench

Excel upload of multiple cost models

Persona-based setup and configuration

Data input from GEP SMART™ and GEP NEXXE™

Parametric cost modeling

Predictive analytics to forecast changes most likely to affect costs

ADVANCEDCAPABILITIES

REAL DATA, REAL INSIGHTS,REAL BENEFITS GEP NEXXE Should-Cost Modeling software enables the most informed supplier negotiations with a complete view of cost structures. The integrated, fully featured dashboard shows real-time updates on the changes to the cost model values. And it will make recommendations from actionable intelligence built within the software platform.

The AI-driven solution not only analyzes price trends and market indices at a granular level, it also breaks down bids, POs and the contract price of pricing elements by pulling corresponding cost models as a reference. Furthermore, the advanced alerting framework keeps you ahead of the game by triggering notifications based on changes to the should-cost target, POs or bids.

The should-cost solution enables you to create personas — such as category planner, cost estimator, sourcing manager and contract manager — and associate them with a defined repository of functions. The user-driven setup also means you can easily upload multiple cost models from a spreadsheet to the cost modeling platform. With intelligent automation at the forefront, get real-time updates and access to the complete cost structure to fuel negotiations and decision-making. An accurate estimate of all cost drivers puts you in the strongest position for successful negotiation. Navigate Navigate a more targeted landscape of suppliers with highly accurate GEP NEXXE Should-Cost Modeling software.

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FACT SHEET: NEXXE

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GEP’s unmatched industry and category expertise converge with advanced technology to provide you highly insightful should-cost analysis. Give your pricing negotiation initiatives a shot in the arm to forge better, more effective supplier alliances and boost overall market competitiveness. With GEP NEXXE Should-Cost Modeling software, you can:

Improve your overall cost savings and supplier planning efforts globallyPlan for spend targets using a flexible cost model Use baseline costs to stay as close to budgeted targets as possibleLeverage predictive analytics to target actual real-world pricesSpend less time negotiating with suppliers Make forecasts and pricing terms more predictable with more accurate, real-time information Breakdown product costs at a granular level to guarantee predictable price targetsPlan for spend targets using a flexible cost model with baseline costsMonitor the evolution of your costs over time for future insights for negotiation