Cost Insights
by PowerAdvocate

Intelligence for energy companies seeking a data-driven approach to cost management

Michael Sojka and Isabel Schwartz


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[Whitepaper] Reduce Supplier Risk by Predicting Bidding Behavior

November 14, 2018 at 6:16 PM / by Michael Sojka and Isabel Schwartz posted in Capital Projects, Utility, capital program office, delivery model optimization

Historically, energy firms have seen uncertainty in their supplier’s behavior as simultaneously unmanageable and a source of severe risk for their operations. This uncertainty can cause major projects to fall behind schedule and can create reputational and financial loss for an organization.

While this risk has always been a concern for energy firms with high exposure to contractors, the volatility of today’s market highlights the need for all companies to be able to proactively mitigate the risk that suppliers pose to major projects and operations.

Leveraging PowerAdvocate’s energy supplier database of $3.3T in energy market spend and 70K sourcing events, we identified and quantified trends in supplier bidding behavior. Using these insights, energy firms can efficiently plan for changes in bidding behavior and mitigate risks during market fluctuations.

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