How to: Easily Manage Commodity Contracts in One Place with Microsoft Dynamics AX
Real-time access to commodity contract information is so important in a commodity trading that organization is essential. Traders must have one go-to place where all contracts and related information is readily available to access. The trouble is that for many traders that go-to place happens to be a coloured file folder filled to the brim with documents; everything from contracts, notes, shipping instructions, weigh scale tickets, and scraps of paper – not the most efficient way to locate contract specific information at a moment’s notice! Take a page out of Scalable’s book and forego the paper altogether, you’ll be glad you did.
For the modern commodity trader and manufacturer, contract management is best handled with Microsoft Dynamics AX with Scalable Commodity in the contract management form – take a look:
The benefit of moving from paper to a software solution such as Microsoft Dynamics AX with Scalable Commodity solution is that managers can easily drill down into the information they need; filtering information by attributes such as trader, commodity, delivery dates, or counter-party. For each contract summary the information panel provides a real-time status view.
In Microsoft Dynamics AX with Scalable Commodity, the inquiry tab provides access to all transaction related information. Some questions that you might ask include things like:
- How do I intend to use/consume this contract?
- What shipments have been arranged?
- What deliveries have taken place?
The Allocation form provides details of the matches/allocations that exist for the contract. The user can see the execution plan for the contract and then make any adjustments or changes as necessary. As the contract moves through the execution life cycle the shipment and individual delivery (loads, rail cars, B/L) details are available to view.
Using the Contract Management Form as the central point to access contract specific information, with cross module access to AP or AR for financial information, helps everyone keep up to date in an ever changing environment.
If you’d like to learn more about how your commodity trading or manufacturing company can easily obtain access to important information without having to manage burgeoning file folders, contact Scalable today.