{"id":1457,"date":"2023-01-04T21:32:14","date_gmt":"2023-01-04T21:32:14","guid":{"rendered":"http:\/\/44.209.203.57\/index.php\/2023\/01\/04\/commodity-managers-the-qbs-of-the-supply-chain\/"},"modified":"2023-01-12T11:23:53","modified_gmt":"2023-01-12T11:23:53","slug":"commodity-managers-the-qbs-of-the-supply-chain","status":"publish","type":"post","link":"http:\/\/44.209.203.57\/index.php\/2023\/01\/04\/commodity-managers-the-qbs-of-the-supply-chain\/","title":{"rendered":"Commodity Managers: The QBs of the Supply Chain"},"content":{"rendered":"

Think of commodity managers as the quarterbacks of the supply chain team. \u00a0They need to collect a lot of supplier information, be quick decision-makers, and negotiate details but yet, see the big picture. The most successful commodity professionals constantly monitor market conditions to purchase when prices are ideal. \u00a0They analyze risk, develop forecasts, study trends to identify and solve potential problems, and are always looking for opportunities for innovation in their field. They are often overworked, with very little in the way of digitized workflow tools.<\/p>\n

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Example case: Let\u2019s review the commodity manager responsible for aluminum die-casting spending in North America. This is a $6.8 Billion spend category with hundreds of large and small suppliers in the US and around the globe. According to the Allied Marketing Research Global Opportunity Analysis and Industry Forecast<\/em> published in June 2022, the rapidly rising demand for aluminum in China has been fueling the expansion of the global aluminum sector.<\/p>\n

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\nhttps:\/\/www.alliedmarketresearch.com\/aluminium-market<\/em><\/p>\n

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So, how does an effective commodity manager create a solid strategy to reduce risk, forecast and monitor costs, and regulate volume based on this type of market fluctuation?<\/p>\n