A few years ago, ComTech had a go at defining a variety of software categories including ‘Commodity Management’, ‘CTRM’ and ‘ERP for Commodities.’ Since then, with an increasing interest on moving and managing physical commodities and declining trading margins, more emphasis has been rightly placed on supply chains in terms of increasing efficiencies and reducing operational and other risks. Now that is an important trend in the industry, it means that more companies are looking for not just CTRM – which focuses on the trade – but for Commodity Management – which focuses on the entire supply chain. ComTech encourages everyone to be consistent in use of terminology to promote a common understanding of terms across the industry and we utilize the terms – CTRM, Commodity Management and ERP for Commodities as follows taken from that white paper, ComTech defines Commodity Management as the superset of software solutions that encompasses CTRM and ERP for Commodities where: ERP for Commodities naturally focuses on physical commodities and emphasizes production/procurement/origination, movement, storage, and handling of bulk and packaged commodities. This will usually include contract management, procurement, production, logistics, inventory management, assays/chemical analysis, pricing and fixation, hedging, settlements, and accounting. The primary users of… continue reading
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