Control over raw material inputs is imperative for the success and profitability of wool manufacturing operations. Specifications that truly reflect a company's product requirements provide genuine competitive advantage.
This course will outline the way by which the price for Australian wool fibre is established, purchasing and selling options, price risk management, consignment building and appropriate documentation. It will outline the historical open-cry auction system in addition to the new web-based, electronic data communication networks for the delivery of sales catalogues, results, wool delivery orders and sale invoices. Participants will also take part in a simulated wool valuing and auction exercise.
| Duration | 2 days |
| Date of Delivery | 15th - 16th November 2007 |
| Cost | A$440.00 |
| Location | CSIRO, Belmont Geelong |
| DAY 1 | |
| TOPIC | PRESENTER |
|---|---|
| Introduction | Mr Don McWhirter (MacWool) |
| Purchase Options: | |
| - Auction | |
| - Private | |
| - Grower Direct | |
| Purchase Methods: | |
| - Firm Offer / Forward Contracts | |
| - Indent | |
| Purchasing: | |
| - Auction Catalogue | |
| - Yields / Price – Cost Implications | |
| - Exporter Baraeme | |
| - Wool Description / Valuing | |
| - Price Establishment | |
| Specifications / Consignment: | |
| - Customer Order | |
| - Specification / Delivery Requirements | |
| - Team 2 / Team 3 | |
| Contract / Dispute Resolution: | Mr Barry White (IFC) |
| - Preparing a Contract | |
| - Contractual Obligations | |
| - Claims - Arbitration / IWTO Blue Book | |
| - Discussion | |
| DAY 2 | |
| Topic | Presenter |
| Documentation / Risk Management: | Mr Kieran Post (Elders Ltd) |
| - Delivery Certification / Documentation | |
| - Payment Methods / Options | |
| - Preparation for Shipment | |
| - Negotiable Documents | |
| - Invoice - Firm Offer / Indent | |
| - Risk Management | |
| Consignment Building/Discussion: | Mr Don McWhirter |
| Practical Team Exercise: | |
| - Consignment Targets | |
| - Specifications / Cost Implications | |
| - Preparation for Purchase | |
| Team Exercise / Simulated Auction: | Mr Don McWhirter, Mr Dennis Eksted (AWB Landmark Auctioneer) |
| - Discussion | |
Please note that this information may change from time to time.
