The procurement process can be complicated for consumer products, food and beverage, and industrial manufacturing companies. It involves sourcing hundreds, or even thousands, of commodities and raw materials from many different suppliers worldwide. Often there are several systems in place to manage this process – including ERP, MRP, broker statement and siloed spreadsheets – making it challenging to track coverage, hedge performance, and spending. Source: EKA – Are You Plagued by These Procurement Challenges?
Source: CTRM Center