Eka Launches Commodity Planning and Procurement Solution for Manufacturers
Advanced software for food & beverage, consumer products and industrial manufacturers to manage price risk of raw materials, energy and packaging.
Eka Software Solutions, the leading global provider of Smart Commodity Management software solutions, today released its new Commodity Planning and Procurement solution for manufacturing companies. After gaining many of the world’s largest producers and traders of agricultural, energy, and metals commodities as clients, Eka is now bringing end-to-end commodity management software to manufacturing industries, including food and beverage, consumer products and industrial, to help manage risk due to price volatility in raw materials, energy and packaging.
The release of Eka.Commodity Planning & Procurement (Eka.CPP) marks a new addition to the Eka Smart Commodity Management software platform and is available now. Eka’s advanced platform captures, analyzes, and manages demand, budgets, forecasts, coverage, procurement, and hedging while providing real-time scenario and intelligence capabilities to optimize decision making. The software provides a unique, visually-rich, analytical tool set that enables users to cover their commodity needs against targeted quantities and price.
Manav Garg, founder and CEO of Eka said, “Manufacturing companies need to implement innovative solutions to counteract volatility in commodity prices. They must look beyond traditional long-term supply contracts with fixed prices for procurement of raw materials, and utilize new ways of hedging price volatility and securing physical supply. Traditional spreadsheets and first generation Commodity Trading and Risk Management (CTRM) platforms are no longer able to provide the required timeliness and trading support. Eka.CPP gives companies Smart Commodity Management with predictive, user-controlled analytics to effectively manage risks and improve operational efficiency.”
Eka’s Smart Commodity Management platform provides greater control over planning and procurement of raw materials, energy, and packaging than first generation CTRM platforms. Commodity volatility is forecast to remain high for the next twenty years. Organizations that implement Eka’s Commodity Planning and Procurement solution will gain competitive advantage over companies that delay implementing a next-generation solution.
About Eka Software Solutions
Eka is the global leader in providing Smart Commodity Management software solutions. Eka’s analytics-driven, end-to-end Commodity Management platform enables companies to efficiently and profitably meet the challenges of complex and volatile markets.
The company’s best-of-breed solutions manage commodity trading, enterprise risk, compliance, procurement, supply chain, operations, logistics, bulk handling, processing, and decision support. Eka partners with customers to accelerate growth, increase profitability, improve operational control, and manage risks and exposures.
Eka is a team of 315 staff with offices in the Americas, Asia, Australia, and EMEA, serving a rapidly growing global client base across multiple commodity segments.