[vc_row][vc_column][vc_column_text]According to Gartner, 89% companies have experienced one form of a supplier risk event in the past 5 years. However, most businesses lack awareness and support of a strong risk mitigation plan. While most traders continue to rely on traditional risk management methods; dynamic businesses are amplifying their risk management capabilities by double using an advanced supply chain management solution.
Commodity trade is vulnerable to inevitable risks such as geopolitical instability, unpredictable climate, regulatory restrictions, and global supply chain i.e., the greatest risk of all. With 1 in 20 companies incurring a loss of over $100 million USD, every year; the pandemic has magnified the intensity of these risks even further.
As previously reported, 80% commodity traders are using manual processes, outdated on-premise systems, spreadsheets and documents for their daily tasks. While these techniques were successful decades ago, they are incompatible within today’s digitized and fast-paced commodity landscape. This is because, they lack real-time visibility, workflow structure, cloud-oriented approach, and forecast accuracy. All of which are the four pillars of modern-day commodity management.
Using a proficient supply chain management solution such as Robo-Commodity, can help your company effectively manage risks such as:
- Disconnected Systems: Several commodity businesses depend on traditional systems for handling origination, handling, and processing. The use of disconnected systems for managing processes independently can prevent decision makers from receiving a comprehensive view of the supply chain and related areas. With a holistic and well-integrated commodity management solution, one can manage multiple geographies, clients and processes with ease.
- Complexities with Business Processes: Modern supply chain risk management systems offering agility and transparency are crucial for firms to set quantifiable ROI efficiently. While businesses are seeking more visibility, into the sourcing & manufacturing of raw materials, market behaviours, and price fluctuations; current systems are unable to provide adequate insights. Additionally, as financial statements are stored and shared using spreadsheets, capturing valuable information can take longer than expected. Due to an integration disconnect between the processes and their management systems, businesses often miss out on opportunities to success.
- Communication: Ensuring all required stakeholders i.e., internal teams, traders, suppliers etc. are connected is key to supply chain resiliency. However, if these individuals reside in different geographies where digital infrastructure maybe poor, receiving prompt assistance and collaboration between them would be a challenge. With a cloud-enabled ERP system, stakeholders can manage trading remotely in real-time on a single platform.
We understand choosing the right ERP can be a struggle for SMEs. Especially, while considering the costs associated with its implementation and maintenance. Hence, we created Robo-Commodity, a cost-effective, comprehensive and Microsoft-approved Commodity Trading platform. Don’t our word for this but that of your peers such as Ennero, Axiom Global, Aria Commodities, Benelux Overseas DMCC & 1 Energin, PJS Global, IME and IMR.
To learn more about our award-winning solution, drop us an email on marketing@robo-soft.net or submit your enquiry through the below enquiry form.[/vc_column_text][/vc_column][/vc_row]
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