Commodities Stocks Biography
Two Strategies in Commodity Trading Software Selection
Many commodity trading companies are affiliated with larger multi-business enterprises controlling diversified operations—from banking to manufacturing—and these holdings typically use enterprise resource planning (ERP) packages. Being part of a group, a trading division’s ETRM/CTRM system ideally should be capable of integrating with the holding’s ERP (or with few of them as an extreme), as well as with other types of enterprise applications. In this case, there are two major approaches possible for software selection:
• CTRM software, being a stand-alone and self-contained system, can be used by a trading division to its maximum capacity, where all modules are implemented and running. In this case, CTRM is independent, and the company manages financials, HR, inventory, and workflow management on its own. Resulting data and reports can be exported on a regular basis to the holding company for consolidation and reporting. In this model, it is very possible to have functional duplication on two levels: multiple data entry, and duplicated data maintenance efforts. In some situations, though, it is an acceptable way to manage a business, despite its obvious weaknesses.
Two Strategies in Commodity Trading Software Selection
Many commodity trading companies are affiliated with larger multi-business enterprises controlling diversified operations—from banking to manufacturing—and these holdings typically use enterprise resource planning (ERP) packages. Being part of a group, a trading division’s ETRM/CTRM system ideally should be capable of integrating with the holding’s ERP (or with few of them as an extreme), as well as with other types of enterprise applications. In this case, there are two major approaches possible for software selection:
• CTRM software, being a stand-alone and self-contained system, can be used by a trading division to its maximum capacity, where all modules are implemented and running. In this case, CTRM is independent, and the company manages financials, HR, inventory, and workflow management on its own. Resulting data and reports can be exported on a regular basis to the holding company for consolidation and reporting. In this model, it is very possible to have functional duplication on two levels: multiple data entry, and duplicated data maintenance efforts. In some situations, though, it is an acceptable way to manage a business, despite its obvious weaknesses.
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