Also referred to as procurement managers, commodity managers oversee the purchase of commodities to assist a company's supply chain. Their main duties include procuring supplies from vendors, evaluating market conditions to mitigate risks, and supervising department personnel. They also study the market to identify potential supply chain issues.
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Commodity Manager Job Description Template
We are looking to hire a resourceful commodity manager to join our company. In this role, you'll oversee the purchase of commodities, update our inventory strategy, and liaise with suppliers to ensure the stability of our supply chain. You will also ensure that project-approved budgets are adhered to.
To ensure success as a commodity manager, you should have strong business acumen and excellent knowledge of commodity markets. Ultimately, a top-notch commodity manager should be able to effectively navigate market risks to help the business reach its commodity goals.
Commodity Manager Responsibilities:
- Managing the company supply chain by sourcing, reviewing, and purchasing commodities.
- Updating inventory strategies where needed to increase sales and manage stock quantities.
- Evaluating, selecting, and recommending new vendors to management.
- Negotiating favorable prices and terms of purchase to maximize best commodity sourcing practices.
- Building and maintaining good relationships with commodity suppliers and distributors.
- Studying market trends and identifying any risks when sourcing and procuring commodities.
- Ensuring that project-approved budgets are adhered to.
- Supervising department personnel when they prepare contracts and purchase orders.
- Resolving vendor disputes and any commodity-related issues.
Commodity Manager Requirements:
- Bachelor's degree in supply chain management, economics, or a similar field.
- At least four years' experience in supply chain or commodity management.
- Solid knowledge of financial markets that influence commodity prices.
- Experience working with commodity trading and risk management software, such as iRely and Allegro.
- Good negotiation skills and the ability to communicate effectively with vendors and suppliers.
- Advanced analytical skills.
- Strong leadership skills and the ability to work well with subordinate personnel from various departments.
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