How does Wood Mackenzie Supply Chain define a unit price benchmark?

Unit price benchmarks provide a quantitative comparison to what industry peers are paying for the same or similar items. An item, for the purposes of benchmarking, is a material/ equipment SKU or labor position title (e.g. journeyman welder). The same labor position covering multiple geographies within a country is typically considered one item. Union and non-union are considered distinct items (e.g. journeyman welder union and non-union is two items) since these are separate datasets.