PINPOOLS platform provides users with a big range of powerful features. In order to benefit most from them, it is crucial to be aware of their peculiarities.
PINPOOLS features can be divided into two categories: Sourcing and Market Intelligence.
SOURCING: RFQ and Series Request
RFQ is the most common type of request designed to simplify the process of ordering, which has the following advantages:
- effortless upload of raw materials, packaging, freights, services etc;
- inviting new suppliers based on item list, involving incumbent suppliers, getting access to more than 9000 suppliers on the platform;
- smart and tailored analysis of bids based on user`s requirements;
- convenient communication channel with supplier;
- awarding offers within a few clicks, automatic confirmation and rejection letters sending out.
Read more about RFX creation here Article `RFX creation`
Series (self-repeating) Request is a reoccurring event, which is designed for:
- automatic price update;
- smart and non-manual management of monthly, quarterly, annual events;
- outline agreement creation and update;
Series request setup consists of three steps: General settings, Item list upload, Suppliers invitation. All the steps are user-friendly and take a few minutes each.
Read more about Series Request here:
MARKET INTELLIGENCE: Cost Model and Spend Mapping
Cost Model is a feature designed to reflect how the cost of a product is formed based on components it comprises. By leveraging real, data-based insights, this tool supports users in price forecasting, market analysis, risk mitigation, and strategic decision-making. It serves as a central, automated system that enables:
- value chain management;
- linking indices with benchmarks;
- clear understanding of cost drivers;
- price tracking over time;
- accurate price forecasting;
- improved market visibility and understanding;
Read more about Cost Model here: Article `Cost Model`
Spend Mapping (Spend Management Tool) is designed to display big amount of Market Data for particular products (including Benchmarks, Savings, Cost Model, Forecast and News) in a well-designed way and provides users with the following:
- clear understanding of how well users are performing in comparison to the real market;
- information about how indices are influencing prices for needed products;
- real suppliers' details;
- savings execution;
- transparency, accuracy, and relevance of data.
* benchmark - medium price for a material, which is based on real transactions through PINPOOLS platform. Buyers use benchmarks to get better transparency of the market and real data, which help to understand profitable timing for going on market.
