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Strategic Sourcing and Procurement

  • Ethical and Sustainable Sourcing: Vetting suppliers to ensure compliance with global ethical and sustainability standards.
  • Global Supplier Network: Maintaining a diverse network of verified suppliers in key regions to ensure supply security.
  • Contract and Price Negotiation: Securing the most competitive prices and favorable contract terms through expert negotiation.
  • Due Diligence and Vetting: Conducting thorough due diligence on all potential partners to mitigate counterparty risk.
  • Supply Base Diversification: Actively diversifying the supply network to reduce reliance on any single source or region.
  • Quality Control at Source: Implementing strict quality control protocols at the point of origin to prevent issues later in the supply chain.
  • Sourcing Audits: Conducting regular audits of suppliers to ensure ongoing compliance with quality and ethical standards.
  • Technology-Driven Sourcing: Using digital platforms to streamline the sourcing process and track supplier performance.
  • Long-Term Partnership Building: Focusing on building enduring relationships with suppliers to secure consistent supply and favorable terms.
  • Payment and Financing Solutions: Providing flexible payment and financing options that are mutually beneficial for both parties.
  • Market Intelligence for Sourcing: Using real-time market data to time procurement decisions and optimize purchasing costs.
  • Scalability of Sourcing: Ensuring the ability to scale procurement operations up or down to meet fluctuating demand.
  • Vendor Relationship Management: Proactively managing vendor relationships to resolve issues and foster a collaborative environment.

Based on the current geopolitical landscape and recent policy announcements, the US sanctions framework significantly impacts global commodity sales in 2025:

 

  • The US Treasury's Office of Foreign Assets Control (OFAC) has intensified restrictions on Russia's energy sector, specifically targeting major oil producers and the affiliated maritime logistics networks to suppress commodity revenue streams.

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  • Compliance risk for commodity traders remains elevated due to the increased scrutiny of the shadow fleet and the potential for secondary sanctions on international actors facilitating the illicit transport of sanctioned crude oil and petroleum products.

Incoterms 2020 defines the essential responsibilities, costs, and risks for buyers and sellers in the international and domestic delivery of goods, standardizing commercial contract clauses globally. These rules, published by the International Chamber of Commerce (ICC), ensure clarity in critical activities like export clearance, carriage obligations, and the precise point of risk transfer between the two parties. A fundamental change in Incoterms 2020 was the clarification of appropriate levels of insurance coverage for the CIF (Cost, Insurance, and Freight) and CIP (Carriage and Insurance Paid To) rules, mitigating financial exposure for the cargo owner during transit. A significant structural update in Incoterms 2020 was the renaming of DAT (Delivered at Terminal) to DPU (Delivered at Place Unloaded), providing flexibility for the delivery point to be any agreed-upon location, not strictly a terminal.