Commodity Traders Make Better Deals With ERP
Better Insight Results in Higher Margins
Commodity trading involves large quantities of raw materials and huge sums of money. From sugar to steel and from milk to oil, all bulk goods are traded via brokers. However, the margins are low and the technical solutions are often poorly integrated. This means that traders cannot respond optimally to the volatile markets. How can commodity traders coordinate the supply and demand more efficiently and minimize their costs?
Without raw materials there would be no end products, and without raw materials the global economy would grind to a halt. The prices of commodities are highly volatile and still relatively low. An epidemic could break out without warning, or an armed conflict might suddenly flare up. The prices are at the mercy of constantly changing direct and indirect factors. Commodity traders are responsible for obtaining as many insights into price-determining factors as possible. This is possible with the right tools. Among other things, the white paper discusses the following:
- Obtaining a real-time single version of the truth
- BI tools and big data provide a competitive advantage
- Cloud computing versus on-premises
- The ability to work at any time, anywhere
Would you like to find out how a modern ERP system can make commodity traders more agile and efficient? If so, read the white paper Commodity traders make better deals with ERP.