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Stoneridge Software

Risk Management Strategies for Process Manufacturing


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Risk Management Strategies for Process manufacturingSome risk is accepted as part of the business model for process manufacturing. But, for most management teams, it’s an uneasy reality. With constant fluctuation in the commodities market, the solution to protecting agri-based manufacturing businesses is having reliable risk management strategies.  The definition of risk covers more than just the financial and hedging aspects of commodities. However, as one of the key areas of risk for process manufacturing businesses, that is the place you must start.

What do you do to mitigate risk in your organization?

To help you mitigate your business position related to risk, Stoneridge Software and Scalable Data Solutions have teamed up with commodity broker and senior analyst Mike Krueger of Money Farm, for a webinar and deliverable white paper, designed and crafted to demystify risk in your operations, and to demonstrate strategies to help safeguard your present and future.

This collaboration on risk management aims to help you:

  • Manage volatility & increase profitability: As grain markets fluctuate, knowing how to confidently manage risk related to these markets is the difference between staying competitive or losing out.
  • Develop your risk reduction strategy: You will always have exposure to market conditions, but the key to riding out periods of volatility is having a good strategy, and the right tools.
  • Explore the use of technology: Discover integrated modules in Microsoft Dynamics AX for contract management, invoicing, storage contracts and production control.

 

While there is a certain aspect to process manufacturing businesses at the mercy of the markets, that single component can't be looked at in isolation. Your success lies in looking at the whole situation, making your decisions based on facts then determining where you could minimize your risks. This is where technology comes in. A major contributing factor to minimizing and controlling  risk is having a robust integrated real-time solution that works to provide an organization with accurate information on which to base decisions.

Learn more about managing commodities risk for your business here.

 

Scott Boedigheimer has worked with many process manufacturers in finding the best solution to fit their needs and manage the unique risks associated with this industry. He has served in a variety roles in technology consulting, sales and management and is currently the Vice President of Sales at Stoneridge Software. With locations in Barnesville, MN and Minneapolis, MN, Stoneridge Software is the premier Dynamics AX and Dynamics NAV partner in the Upper Midwest. If you're taking a hard look at risk management practices or looking for the right technology to manage commodities within your ERP solution, contact the experts at Stoneridge Software: 612-354-4966 or solutions@stoneridgesoftware.com.

by Stoneridge Software

 

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