EDITOR’S NOTE: According to some reports hashtag#cocoa output is likely to shrink by 11% this season and contribute to the 40% increase in costs per kilogram seen by some manufacturers. – David Bateman, Mintec LinkedIn Post
Do you like chocolate? Perhaps a better question would be, “Who doesn’t like chocolate?”
As a chocolate lover and consumer, when I read the above post, I had a few thoughts:
- How will this affect pricing? With four teenagers, the cost of groceries is always a point of interest.
- Will it have a negative impact on availability? Will my favorite treats become nothing more than empty wrapper memories?
In the past week, I have purchased the above three products to enjoy while reading a good book (a shameless plug of the book I co-wrote with Kelly Barner, which you can buy through this convenient link).
As was the Cadbury plant-based offering, the President’s Choice milk chocolate truffles were in the bargain bin at $1.00 each (0.72 USD).
The President’s Choice Decadent chocolate chips for Jennifer’s unbelievable banana bread were not on sale and cost more than the other two items combined. In short, depending on your chocolate proclivities, I see little impact today.
Putting On The Procurement/AI Hat
From a procurement professional standpoint, considering my high-tech background with self-learning algorithms and nascent AI platforms in the late 1990s—early 2000s, my first instinct was to look for historical patterns. There is a method to my madness, but that is a discussion for another day and post.
For the subject of today’s post, here are three different charts covering a range of years.
As a procurement professional, what do they tell you regarding the following:
- Climate Change
- Geopolitical instability
- Impact on farmers and working conditions
- Short, Mid, and Longer term impact on pricing
Overall, do you see a pattern in any of the charts? There is a pattern. How will you navigate and plan to address the apparent volatility in the future? After all, you can’t manage what you don’t know.
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Procurement Insights
As a procurement professional, what do these three graphs tell you?
Posted on April 17, 2024
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EDITOR’S NOTE: According to some reports hashtag#cocoa output is likely to shrink by 11% this season and contribute to the 40% increase in costs per kilogram seen by some manufacturers. – David Bateman, Mintec LinkedIn Post
Do you like chocolate? Perhaps a better question would be, “Who doesn’t like chocolate?”
As a chocolate lover and consumer, when I read the above post, I had a few thoughts:
In the past week, I have purchased the above three products to enjoy while reading a good book (a shameless plug of the book I co-wrote with Kelly Barner, which you can buy through this convenient link).
As was the Cadbury plant-based offering, the President’s Choice milk chocolate truffles were in the bargain bin at $1.00 each (0.72 USD).
The President’s Choice Decadent chocolate chips for Jennifer’s unbelievable banana bread were not on sale and cost more than the other two items combined. In short, depending on your chocolate proclivities, I see little impact today.
Putting On The Procurement/AI Hat
From a procurement professional standpoint, considering my high-tech background with self-learning algorithms and nascent AI platforms in the late 1990s—early 2000s, my first instinct was to look for historical patterns. There is a method to my madness, but that is a discussion for another day and post.
For the subject of today’s post, here are three different charts covering a range of years.
As a procurement professional, what do they tell you regarding the following:
Overall, do you see a pattern in any of the charts? There is a pattern. How will you navigate and plan to address the apparent volatility in the future? After all, you can’t manage what you don’t know.
30
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