Sourcing high-quality raw materials at competitive prices is essential. As ingredient availability changes or market prices fluctuate, BESTMIX® automates price tracking and includes risk management features, enabling you to make informed and timely purchasing decisions. By simulating alternative ingredients, it supports cost-effective strategies and smooth collaboration with suppliers, ensuring consistent, high-quality production.
Procurement in the nutrition industry is a complex and critical process, often challenged by the volatility of raw material prices. Market fluctuations, global geopolitical events and other factors can cause ingredient costs to rise or fall rapidly, making it difficult for manufacturers to plan budgets and maintain stable pricing. This unpredictability can put pressure on margins, requiring businesses to be agile in their procurement strategies to stay competitive.
Adding to this complexity is the need to ensure the quality and consistency of raw materials while managing relationships with multiple suppliers. Variations in ingredient quality can lead to production disruptions, rework, or even product recalls, posing risks to both profitability and brand reputation. Meanwhile, global supply chains introduce additional vulnerabilities, including delays, geopolitical tensions, and transportation challenges, further complicating the procurement process and increasing the need for strategic planning and reliable systems.
Knowledge is power in a volatile industry, and position monitoring is one of the most crucial aspects of the business. Automating the tracking of your short and long positions helps answer key questions, such as: Am I covered for a specific period? When should I buy, and when should I sell? BESTMIX provides complete visibility into your commodity positions, empowering you to analyse and optimize your business decisions.
In the commodities sector, long-term contracts with customers and suppliers are crucial to manage price volatility and ensure supply aligns with demand. These contracts, including fixed-price, premium (basis)-based, physical, and futures, represent a significant portion of your costs. Effective contract management in your ERP system is crucial, as reliance on external spreadsheets increases business risk and uncertainty.
Manufacturers often establish forward contracts for commodities, either at fixed prices or linked to stock exchange futures prices (e.g., CME, Euronext). To ensure effective decision-making, up-to-date market prices from multiple exchanges are essential. BESTMIX simplifies this by importing the current market prices from key exchanges, streamlining the process and enhancing decision-making.
In the nutrition supply chain, where food allergies and intolerances are increasingly common, precise control over ingredient quality and specifications is essential. With BESTMIX Spectrack, you gain instant access to all relevant raw material and supplier information. The system enables efficient quality analysis for every ingredient, while storing supplier specifications and licenses to streamline your procurement process. BESTMIX also helps you evaluate vendor performance, tracking factors like delivery times, product quality, responsiveness and compliance, ensuring you maintain high standards across your supply chain.
In trading business you link sales transactions with purchase transactions. This is a complex exercise, since you can have allocated one purchase transactions with more than one sales transactions, and also other way around. Due to nature of the traded commodities, the price volatility , and the additional cost elements (insurance, brokerage, freight…), can have large effect on your trade margin. Therefore is essential that BESTMIX supports you for automatic on line margin calculation during the trade transacting.
The dynamic commodities market introduces uncertainty to your business. To manage trade books effectively, it’s essential to constantly track contract values against market prices. Particularly for fixed-price contracts, where margins must be assessed against market prices, and for premium (or basis) contracts, where financial obligations require ongoing monitoring. BESTMIX provides tools and dashboards to support constant reporting, helping to safeguard profits and minimize risks in low-margin industries like feed and food commodities.
There is a growing insistence for transparency in the market, with consumers and retailers expecting more and accurate data. A pro-active approach is required to source and manage this data efficiently. Manufacturers rely on their suppliers to deliver good quality raw materials on time and to provide the necessary documentation to assure food safety. Think of certificates, product specifications, CoA’s... Within the company, supplier data is stored, created and used by different departments, making it difficult to rely on a single source of truth. With BESTMIX, this is under control and there is no need to stress in case of audits
A demo says more than a thousand words. Our solutions team is ready to show you what we have in store. Get in touch to schedule your demo!
Personalisation
See the current personalisation segmentation scoring or apply a manual segmentation to test