Spend is calculated as cost per TEU (twenty-foot equivalent unit) shipped multiplied by the number of TEUs shipped in each trade lane.
This figure is then used to aggregate and sum up all savings potentials (cost reductions) for you if you are performing at the market’s low, average, and high spend levels in the trade lanes you are currently operating in. These figures are provided as the negotiated price, not the actual paid price. Additionally, these prices are provided per lane, not per contract ID/supplier.
Please visit the Terminology help center section for more information on spend, coverage, and volume.