Statistics about the energy transition abound, from the collapse in European coal production, to various states’ commitments to net zero carbon emissions, including China’s target of net zero emissions by 2060. The energy transition will be a long-term process, with each fossil fuel seeing its own trajectory, and with regional variations to take into account,…
Transparency, traceability and smooth inter-organisation data flows are becoming more important than ever. Organisations looking to maintain their position in the future competitive landscape need to prepare for greater collaboration now. Collaborative core CTRM systems with flexible integrations to internal and external software mean you are ready to adapt to the technology needs of the future as they arise.
Gen10 today announced their latest successful remote implementation as Euro Alloys began using their CommOS commodity management system. The implementation under Covid-19 “lockdown” was made possible by the off-the-shelf, scalable cloud design of CommOS.
Gen10 recently explored the factors changing trade finance, and how the industry is reacting to them, but the overarching theme is that traders will need to be able to provide greater assurance to trade finance providers; both through better inventory data including traceability, and through having demonstrably robust risk management processes.
There were so many valuable points raised at the recent commodity trading event CTI Live! that we couldn’t provide one quick overview. In part one, we covered digitalisation in commodities, commodities and politics, and climate change: how can commodity trading catch up?
In this second part we will explore the key points from panel sessions discussing trade finance, what is commodity trading looking like in 2021, and what will the post-Covid supply chain look like?
Gen10 recently attended the commodity trading virtual event CTI Live! The event featured 6 fascinating panels across the 3 days, covering a wide range of relevant and topical subjects, from supply chain structure to climate change. Gen10 were invited to speak on digitalisation in commodities and on the new trade finance landscape.
In this first part of our quick event overview, we summarise 3 of these sessions:
Digitalisation in commodities: lessons learnt from 2020?
Commodities and politics: is 2021 bringing more disruption than 2020?
Climate change: how can commodity trading catch up?
Commodity trade finance has seen many disruptions in recent years. Lender demands for better visibility into partners’ risk management and supply chains have been increasing, as have technology initiatives to get this information to them. And issues from lenders leaving the market to the recent collapse of Greensill Capital could mean that traders who cannot provide this visibility could find themselves struggling to access trade finance in a squeezed market.
Even before the Covid-19 pandemic, the commodities industry was facing many significant challenges that depressed trading margins and profitability. In response to these challenges, there has been a growing acceptance of the need to improve supply chain efficiency and operational performance, as well as an ever-increasing emphasis on managing risk and improving data.
At Gen10, we don’t like talking about “ags and softs CTRM” as one category that can be thrown together and treated as if these different commodities all had the same physical characteristics and solution requirements. Our experience of working with clients across a range of different agricultural commodities has shown that they need a CTRM solution to provide slightly different functionality for each commodity, whether that’s managing bales or tanks, unique quality metrics, or any one of the many other nuances out there.
Gen10 are happy to announce that we are sponsoring CTILive! from 23 to 25 March. Richard Williamson, CEO, will be sharing his expert views on digital transformation and agility in the panel discussion Digitalisation in commodities: Lessons learnt from 2020.
