Solution-Advantageous procurement action

Advantageous procurement action

Assignment Help Supply Chain Management

Reference no: EM133368238

Question

How do you forecast the price of a crude oil (commodity) on February 20, 2023 so that the organization may take the most advantageous procurement action possible, the organization needs USD$5 million worth of this commodity for delivery any time during the month of February. The amount, USD$5 million worth, is based on the spot price of this commodity on January 22, 2023. What is the current (January 22, 2023) spot price of this commodity, based on what quotation? What is the specification of the commodity and what is the minimum amount of purchase required for the quoted price to hold? Can you explain why the price may increase or decrease and provide the source and give the recommendation.

Reference no: EM133368238

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Advantageous procurement action

Reference no: EM133368238

Reference no: EM133368238

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