The recent past has shown us just how volatile commodity markets can be, and just how quickly costs can spiral. Now is the time to invest in the way commodities are managed.
Making commodities purchasing decisions in markets prone to volatility is a risky business. Get it wrong and companies can be left nursing significant losses. Automotive businesses who have some of the most diverse and complex procurement portfolios, which represent equally complex supply networks and a broad series of commodities markets, are especially at risk.
Commodity Procurement for Automotive Manufacturers
There is a clear choice. Either continue to purchase commodities passively as just another link in the supply chain and be vulnerable to commodity price variations. Or, adopt a proactive approach to automotive procurement with solutions that enable more accurate forecasts, provide coverage management, and protect the bottom line.
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Automotive manufacturers and suppliers are now realizing the benefits of investing in Smart Commodity Management systems that enable them to efficiently and profitably meet the challenges of complex and historically volatile markets. They are leaning on Smart Commodity Management platforms to manage risks and exposures, improve operational control, and increase profitability. Learn more in "How CTRM Software Helps Manage Procurement Challenges."
The Advantages of Smart Commodity Management
With Smart Commodity Management, automotive companies can manage commodity planning, forecasting, coverage, risk, supplier performance, and procurement all alongside improved scenario analysis and decision support.
With the right approach, tools, and risk management set up, automotive companies can reach an optimal balance between cost, profit, and risk. In short, they can exercise far greater financial control over commodities used in automotive components. But without them? Well then that’s when the commodity supply chain controls you.
Eka's Smart Commodity Management
Eka's next-generation solution provides a new approach for manufacturers to manage price volatility of commodities, subcomponents, raw materials, and energy by integrating procurement, supply chain, and risk in one single solution. Eka's Procurement Analysis solution captures, analyzes, and manages demand, budgets, forecasts, position, coverage, procurement, and hedging while providing real-time scenario and intelligence capabilities to optimize decision making.
