How to Manage Commodity Risk in your Supply Chain

Managing risk in commodity markets isn’t easy, but it’s not impossible. The key is to understand where your raw material is coming from, and then make sure you’re aware of what’s happening in that location. Why? If you find out before your competitors about an event that might impact the price of a commodity, you can secure supply before the price goes up. 

This actually happened to one Sphera SCRM [formerly riskmethods] customer. After they were alerted to a strike at a copper mine, they knew that a copper shortage and subsequent price increase was likely to follow. By taking action, they avoided price increases of 15-20%. Guess who didn’t? Their competitors.  

It’s hard to monitor raw material locations on your own—but with the right advanced technology, it’s just another standard functionality. Sphera SCRM Commodity Risk Tracker uses AI to scan millions of news articles in real time, so that we can warn you about exactly this kind of commodity market risk event as it’s happening. Clearly, it pays to take steps to avoid shortages of key commodities and raw material price increases. 

Learn in this webinar how to: 

• Learn why commodity risk insights matter. 
• Understand Sphera’s new offering for tracking commodity risk. 
• Get a live demo of our new Commodity Risk Tracker Module. 
• Ask your questions around Sphera SCRM Commodity Risk Tracker.