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Commodity forecasting  has long been a crucial undertaking for organizations whose operations depend on raw resources. How precise these forecasts are can have a significant impact on an organization's revenue, perceived risk, and capacity of making informed decisions. The advancement of artificial intelligence (AI) and machine learning technologies has improved commodity forecasting, enabling businesses to lower risks and make more informed decisions. Businesses can reduce risk and make better decisions wh... more

The commodity market, which is a crucial component of the world economy, is always changing. A difficult challenge, given the complexity of the market, has always been predicting the prices of commodities. Yet, commodity price forecasting has become more precise and effective than ever before thanks to technological breakthroughs, particularly those in artificial intelligence (AI) & machine learning (ML). The commodities market, which trades in a variety of things including metals, minerals, agricultural products, bio... more

The business strategy of purchasing teams and organizations must closely monitor real time commodity price forecasts and trends. It enables companies to foresee pricing-related risks, and plan, and manage suppliers proactively while avoiding supply chain interruption brought on by price volatility. Category managers have a crucial role in budget planning, and the structure of the organization, the financial and procurement teams may also play a part. Based on industry and price projection insights for the upcoming six,... more