Problem:
The procurement team of a major food manufacturer saw how the prices of their main raw ingredients they regularly purchased fluctuated so much making their business highly vulnerable to large price fluctuations due to the commodities markets.
Unfortunately, the client could not pass on these price increases/fluctuations to their customers, meaning the business had to absorb much of these price increases, negatively affecting profits.
Solution:
The company sought us out to train their procurement team to better understand how commodities markets work and what drivers affected commodities prices. Having a better understanding of what affects the prices of their raw ingredients could help them better plan their procurement process so they wouldn’t be so vulnerable to price fluctuations.
The final selection came down to Ethan Hathaway and a commodities trading software vendor.
The company initially chose the software vendor as they offered to deliver a training at a low cost. But the client quickly realised the software vendor was not equipped to deliver such a training nor did they have an experienced enough expert who understood how commodities markets worked.
They were too focused on the software and not experienced in underlying concepts and drivers of the commodities markets.
So, the client in the end came back to us to train up their team.
The Results:
The average course rating from attendees was 8.64 out of 10.
100% of attendees said the training met their expectations.
Contact Us
If you are a commodities-driven business, get in touch with us to see how we can help your commodities business: support@ethanhathaway.com
