For me, nothing beats that first sip of hot coffee in the morning. It is one of the highlights of my day.
But as you enjoy your caffeine boost, have you ever wondered where that satisfying, best part of waking up beverage originated and the often volatile nature of its trip through the global supply chain. Probably not because, after all, it is your time of day before you enter your world of daily living.
Rather than going into a lengthy dissertation, the graph below should provide the perfect illustration of the volatility of the coffee market.
The question I have is how do procurement and supply chain professionals deal with such volatility and uncertainty? Let’s face it, the graph reminds me of a roller coaster ride that seems to be in a state of constant change.
Based on the Dow Jones graph below, which resembles the Arabica Futures graph above, it isn’t a stretch to think of procurement professionals in the same light as stock brokers. In short, both face a high level of volatility and uncertainty.
A Short, But Interesting Digression
The following two graphics on the pay the average procurement officer receives compared to the average stockbroker paint an interesting picture that perhaps warrants a separate post. Especially when you look at the upside for the stockbroker relating to total pay, e.g., bonus and profit sharing.
Back To The Coffee Market
“One of the great attractions for many that become stockbrokers, more commonly known as investment advisors, is that there is no such thing as a typical day.” – A Day in the Life of a Stockbroker (February 13th, 2024)
“There is no such thing as a typical day!” Maybe I am off on this one, but I would readily say the same thing about procurement professionals.
As is the case with the stockbroker tracking a volatile market, procurement professionals also require the following two things to do their job well:
- The coaching, training, and opportunity to leverage the available experience and expertise to deliver optimal results.
- An intuitive platform with robust charting capabilities to access real-time market data.
The critical point is that you can’t take full advantage of the second one without the first.
What are your thoughts?
30
Procurement Insights
Caffeine high procurement: Is there really a difference between a stockbroker and a procurement professional
Posted on February 27, 2024
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For me, nothing beats that first sip of hot coffee in the morning. It is one of the highlights of my day.
But as you enjoy your caffeine boost, have you ever wondered where that satisfying, best part of waking up beverage originated and the often volatile nature of its trip through the global supply chain. Probably not because, after all, it is your time of day before you enter your world of daily living.
Rather than going into a lengthy dissertation, the graph below should provide the perfect illustration of the volatility of the coffee market.
The question I have is how do procurement and supply chain professionals deal with such volatility and uncertainty? Let’s face it, the graph reminds me of a roller coaster ride that seems to be in a state of constant change.
Based on the Dow Jones graph below, which resembles the Arabica Futures graph above, it isn’t a stretch to think of procurement professionals in the same light as stock brokers. In short, both face a high level of volatility and uncertainty.
A Short, But Interesting Digression
The following two graphics on the pay the average procurement officer receives compared to the average stockbroker paint an interesting picture that perhaps warrants a separate post. Especially when you look at the upside for the stockbroker relating to total pay, e.g., bonus and profit sharing.
Back To The Coffee Market
“One of the great attractions for many that become stockbrokers, more commonly known as investment advisors, is that there is no such thing as a typical day.” – A Day in the Life of a Stockbroker (February 13th, 2024)
“There is no such thing as a typical day!” Maybe I am off on this one, but I would readily say the same thing about procurement professionals.
As is the case with the stockbroker tracking a volatile market, procurement professionals also require the following two things to do their job well:
The critical point is that you can’t take full advantage of the second one without the first.
What are your thoughts?
30
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