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  • IHS Markit PriceEdge User Manual

    IHS Customer Care

    15 Inverness Way East

    Englewood, CO 80112, USA

    +1 - 800 - IHS - CARE

    +1 - 800 - 447 - 2273

    CustomerCare@IHS.com

  • IHS Markit PriceEdge User Manual | Contents

    | I

    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

  • IHS Markit PriceEdge User Manual | Contents

    | II

    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

    | III

    Index 57

  • IHS Markit PriceEdge User Manual | IHS Markit PriceEdge Introduction

    | 1

    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

    | 2

    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

  • IHS Markit PriceEdge User Manual | IHS Markit PriceEdge Introduction

    | 3

    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

    | 4

    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

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