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IHS Markit PriceEdge User Manual

IHS Customer Care

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Englewood, CO 80112, USA

+1 - 800 - IHS - CARE

+1 - 800 - 447 - 2273

CustomerCare@IHS.com

IHS Markit PriceEdge User Manual | Contents

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Contents

IHS Markit PriceEdge Introduction 1

Navigate IHS Markit PriceEdge ..................................................................... 1

Understand the Price Calculations................................................................. 3

Part Details 5

Evaluate Part Details ..................................................................................... 5

FLIS Header (Segment A).................................................................. 6

Master Cross Reference List (MCRL) ................................................ 7

Management List Consolidated (ML-C) ........................................... 7

AMC/AMSC Codes ............................................................................ 8

ML-C Phrase Statement Data ............................................................ 8

Similar Part Pricing 9

Perform a Similar Part Pricing Calculation ..................................................... 9

Understand the Similar Part Pricing Calculation .......................................... 10

Same Part Pricing 12

Perform a Same Part Pricing Calculation..................................................... 12

Understand the Same Part Pricing Calculation ............................................ 13

Web Search 14

Perform a Web Search ................................................................................ 14

Search Syntax ................................................................................. 15

Search Results ................................................................................ 15

Similarity Search 17

Perform a Similarity Search ......................................................................... 17

Search Field Behavior ...................................................................... 18

Similarity Search Syntax .................................................................. 19

Similarity Search Results ............................................................................. 21

Faceted Browsing ............................................................................ 22

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Generate Package 24

Batch Same Part Pricing 27

Format your Batch File ................................................................................ 27

Perform Batch Same Part Pricing Calculations ............................................ 28

Universal Detail Buttons 30

Contract History ........................................................................................... 30

Procurements by Price Point ............................................................ 30

Procurements by Contract ............................................................... 31

Procurements by Date ..................................................................... 32

Contract Price Trends.................................................................................. 34

BLS Index Trends ........................................................................................ 35

Part Numbers .............................................................................................. 35

PID Specifications ....................................................................................... 36

Item Description .......................................................................................... 37

Technical Properties .................................................................................... 37

Reports 39

Part Details Report ...................................................................................... 39

Similar Part Pricing Report .......................................................................... 40

Model Report ............................................................................................... 40

Selected Model Series Data ............................................................. 42

Selected Model Data ........................................................................ 42

Selected Price Data ......................................................................... 43

Same Part Pricing Report ............................................................................ 44

Administrative and Support Functions 46

Exit PriceEdge ............................................................................................. 46

Help ............................................................................................................. 46

Customer Care ............................................................................................ 47

About ........................................................................................................... 47

Frequently Asked Questions 49

Glossary 52

IHS Markit PriceEdge User Manual | Contents

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Index 57

IHS Markit PriceEdge User Manual | IHS Markit PriceEdge Introduction

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IHS Markit PriceEdge Introduction

Welcome to the IHS Markit PriceEdge User Guide!

This guide will provide you with all the information you need to get started with PriceEdge and use it on a daily basis.

About IHS Markit PriceEdge

PriceEdge is a Software as a Service (SaaS) tool that aids pricing teams in determining how to bid competitively in the context of the current market. PriceEdge uses available historical procurement data, material data, Bureau of Labor Statistics (BLS) data, learning curves, and proprietary data to generate price estimates for individual parts and for a batch of parts. PriceEdge also offers part details, a multi-engine web search that queries many search engines simultaneously, and a similarity search functionality that can be utilized to find similar parts.

PriceEdges price calculations take into account variables that include:

Relevant BLS data

Material costs

Historical price points

Contract types

Learning curves

2018 IHS, all rights reserved. All trademarks belong to IHS or its affiliated and subsidiary companies.

Navigate IHS Markit PriceEdge

The graphic below provides an overview of how to navigate PriceEdge.

IHS Markit PriceEdge User Manual | IHS Markit PriceEdge Introduction

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Figure 1: Overview of PriceEdge, which displays global search, exit link, and help center button at the top of the PriceEdge screen, a main tabs under the global search bar, Clear All Tabs and universal detail buttons on the right of each tab, Notes for Generate Package field, About link, and the Copyright link at the bottom of the screen

The global search feature is located at the top of every screen, and allows users to search by

CAGE + Part Number

NSN/NIIN

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Part Number

Administrative functions are located at the top of the PriceEdge screen and are available on all PriceEdge tabs; they include:

Exit link

Help button

The main tabs are located below the administrative functions and include:

Part Details

Similar Part Pricing

Same Part Pricing

Web Search

Similarity Search

Generate Package

Batch Same Part Pricing

The universal buttons are located on all tabs and include:

Universal Clear All Tabs button

Universal Detail Buttons

Support functions are located at the bottom of every screen, and include:

Terms of Use

Privacy Policy

Customer Care

About

Note: The Notes for Generate Package dialog appears at the bottom of the Part Details tab, Similar Part Pricing tab, Same Part Pricing tab, Web Search tab, and Similarity Search tab.

Understand the Price Calculations

PriceEdge supports two methods for generating market price estimates to be used in price reasonableness analysis in accordance with Federal Acquisition Regulations (FAR) 15.404-1(b)(ii).

Similar Part Pricing calculates price estimates based on other parts with similar contract data.

Same Part Pricing calculates price estimates based on contract data associated with the same part.

After the user auto-selects or manually selects the base contract for price reasonableness, both methods adjust prices using Bureau of Labor Standards (BLS) indices and adjust quantities using DAU-endorsed Unit Improvement Curve methods (Volume 2, Chapter 7.0.3). The Similar Part

IHS Markit PriceEdge User Manual | IHS Markit PriceEdge Introduction

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Pricing method uses regression analysis (Volume 2, Chapter 5) to develop the adjusted price before quantity adjustments are applied.

Note: PriceEdges price calculations take into account a parts contract history. In the case that a parts contract history causes pricing to increase or stay the same as quantities increase, refer to the parts contract history for more information. Some previous procurements may be excluded from the price calculation. These excluded procurements are indicated by an exclamation symbol in the Excluded column in the Procurements by Contract and Procurements by Date sections of the Contra