How procurement can leverage Market Monitoring Dashboards: 3 practical scenarios

Procurement teams today need more than hindsight – they need foresight they can act on. Global volatility, unpredictable price swings, shifting tariffs, and supply chain bottlenecks have made reactive reporting a liability. CFOs now demand forecasts they can trust, stakeholders expect confident decision-making, and suppliers bring their own “facts” to the table. The pressure is on procurement leaders to move from firefighting to foresight. 

That’s where Beroe’s Market Monitoring Dashboard (MMD) comes in. Built on more than 17,000 cost and price drivers across 2,500+ categories, MMD delivers up to 18-month forecasts, regional granularity (right down to city level), and coverage spanning both direct and indirect categories – from chemicals and packaging to legal services, logistics, and beyond. 

Unlike static dashboards or peer benchmarking, which often stop at backward-looking views, MMD combines external data with your own inputs to deliver forecasts that are not only comprehensive but also contextualized. That means procurement leaders can see not just global averages, but category-specific insights tied to their suppliers, contracts, and regions of operation. Whether you’re negotiating with a law firm on billing rates, calculating landed costs for freight, or validating commodity price shifts, MMD provides the depth and flexibility needed to make confident calls. 

During our recent In the Know: Product Showcase, we shared a few scenarios to illustrate how procurement might apply MMD in practice. Here are three examples: 

1. Deciding when to contract 

Imagine a category manager sourcing High-Density Polyethylene (HDPE). Suppliers warn of volatility, but should you contract now or wait? 

With MMD, you could: 

• Compare regional forecasts side by side (e.g., North America vs. Europe). 
• Drill into individual grades of HDPE rather than relying on one general benchmark. 
• Extend the timeline to see whether shifts are cyclical or structural. 

This level of detail helps you separate supplier narratives from market reality. Instead of making a reactive call, you’re equipped to lock in contracts at the right time, with clear evidence to justify your decision to stakeholders. 

Procurement leaders often tell us this type of forward-looking intelligence transforms their internal conversations too. Walking into a budget review armed with an 18-month category outlook changes the narrative from “here’s what happened last year” to “here’s what’s coming, and how we’re preparing.” 

2. Building forward-looking budgets 

Now picture a finance leader preparing a 2025 petrochemicals budget. Rather than relying only on historic averages, they could: 

• Integrate internal spend data with forecasts to see variances in real time. 
• Layer in upstream categories like ethylene or naphtha. 
• Compare across the full value chain to understand knock-on effects. 

The result is a sharper, evidence-based budget that reflects both global trends and local realities. 

For finance teams, forecast accuracy isn’t just a nice-to-have – it’s the foundation of credible planning. MMD helps procurement become a partner to the CFO, building trust by showing where spend patterns are likely to shift and why. This collaboration is one of the fastest ways procurement can raise its profile inside the business. 

3. Challenging supplier cost claims 

Suppose a supplier of stainless steel says costs are up 10%. With MMD, procurement could: 

• Check the forecast for the specific grade and region. 
• Break down the supplier’s cost structure into inputs like energy, labour, and raw materials. 
• Compare claims against objective data. 

If energy prices rose 40% but account for only 10% of the final product cost, the real impact is closer to 4% – not 10%. That evidence strengthens fact-based negotiations and avoids overpaying. 

This same approach works beyond direct materials. Take legal services: MMD breaks down billing rates by role, experience level, practice area, and geography. Procurement can benchmark whether they’re paying above market, challenge rate increases, and drive savings – all with the same structured, data-backed approach. 

From static dashboards to predictive foresight 

These are just illustrations, but they show how MMD moves procurement beyond static dashboards and peer benchmarking into the realm of predictive foresight. With comprehensive coverage across both direct and indirect categories, procurement leaders can: 

• Plan budgets with confidence. 
• Negotiate with evidence, not assumptions. 
• Anticipate risks before they hit. 
• Build credibility with stakeholders by showing foresight, not just reporting history. 

Scale matters here. With more than 17,000 grade and location combinations, and coverage spanning chemicals, packaging, agriculture, logistics, energy, and professional services, MMD ensures procurement leaders aren’t operating with blind spots. It’s not about drowning in spreadsheets – it’s about having structured intelligence at your fingertips, ready to act on. 

 Explore what MMD could do for your team.