Commodity Manager

One of the most critical functions for an organisation to undertake is the management of commodities, or instead, their supply and demand. A commodity is a manufactured product which has both value and price. It can be sold, again and again, making it a quick source of capital for many institutions such as banks, hospitals and retail warehouses. Various roles use the expertise of a commodity manager.

What is a Commodity Manager?

Commodity managers help businesses avoid risk and save money. Commodity managers are responsible for proposing alternative management systems to save costs or increase revenues. They are skilled in developing alternative solutions so that the management of a company can select the most advantageous one in terms of resources, profits, and investments. Commodity managers usually work at trading companies (retail or wholesale), investment banks, and specialised consultants.

They can also act as brokers, finding buyers and sellers for their clients when needed.

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Commodity Manager Job Description

Commodity Manager Job Overview

The role of a commodity manager is to oversee sales transactions to make sure that the company makes as much money as possible on every transaction. Commodity managers work closely with other departments because they often need to buy or sell products based on orders from other departments, such as sales or human resources.

Responsibilities of a Commodity Manager

Your day-to-day responsibilities will vary depending on your industry and position, but some of the most common tasks include:

Managing finances and resources
Negotiating contracts and agreements with suppliers/customers
Directing employees within your department
Managing multiple commodities, including but not limited to raw materials, food products, and other goods
Track purchase orders for commodities from suppliers
Ensure that inventory levels are maintained on a timely basis
The commodity manager must also be able to manage multiple projects simultaneously while still keeping an eye on their budget
Monitor trends of commodities to predict their demand and supply levels
Supervise lower-level employees who manage individual commodities

Commodity Manager Qualifications and Skills

To become a commodity manager, you need to have an undergraduate degree in business administration or a related field. You should also have at least two years of experience working as an administrative assistant or similar role. This job requires an understanding of how to run a business and an ability to work well with people:

Excellent communication skills: You need good communication skills, as you will work with many different people from various departments throughout the organisation. You must also deal effectively with customers and suppliers, who may have other goals than your own. You should also know how to write straightforward emails that explain complex ideas clearly without requiring additional clarification from your audience members (i.e., customers) later on down the road.).
Working under pressure: Working well under pressure is essential for success in this position because there will often be deadlines that need to be met by specific dates.
Strong analytical skills and organisational skills

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