Commodity Procurement
Food & Beverage Procurement Excellence
Commodity procurement is tricky. You need real-time visibility across your supply chain for multiple commodities from different countries – often for several business units and products. You need real-time position reports to minimize risk and traceability across the supply chain to confirm sustainable sourcing, ensure safety, and provide provenance.
Our long history managing procurement excellence for tea, spice and coffee companies ensures we understand the nuances of commodity procurement. Our software was developed to simplify the complexity around commodity procurement, and we have been helping some of the world’s largest food companies achieve procurement excellence for over 30 years.
Confectionary Company Transforms Business Processes
One of the world’s largest chocolate manufacturers needed a new commodity trading and risk management (CTRM) solution. Learn how a Fortune 500 food manufacturer improved risk management with iRely.
Commodity Sourcing
Reduced Risk
- Monitor position in real time
- Accurately account for costs with integrated accounting
- Improve profit margins by limiting risk exposure
- Automate position, risk and compliance reports with single click
- Track risk and trade performance in real-time
Real-time Traceability
- Track end products through the supply chain to point of origin
- Certify sustainable initiatives
- Ensure ethical sourcing
Food and Beverage CTRM Benefits
- Gain real-time visibility to production forecasts and coverage
- Adjust supply to meet production with visibility to inbound shipments
- Understand your costs with full allocation of costs to materials
- Use alerts and approvals to ensure your team knows when events impact position
- Make better decisions based upon vendor performance reporting
- Know the quality of your ingredients and manage them through the contract lifecycle
- Reduce production delays due to commodity shortages
- Improve net margins by managing commodity pricing spikes and dips
“The functionality is more user friendly and faster with iRely, and I see more potential to shift tasks so we can reallocate or reduce headcount.” Large Food Manufacturer