During a 2020 survey, over one-third of supply chain leadership members stated that their company uses mostly contract rate procurements to facilitate business relations. Spot and contract rates are two of the possible types of exchange agreement between parties to settle and pay for a service. The spot rate is a procurement rate determined at the time of purchase mostly for transactions in two days. On the other hand, a contract rate, also known as a futures contract, settles an exchange between parties now at a rate for a future transaction.
Procurement rate contracts used by supply chain companies in 2020
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GoComet. (June 20, 2020). Procurement rate contracts used by supply chain companies in 2020 [Graph]. In Statista. Retrieved November 22, 2024, from https://www.statista.com/statistics/1182151/rate-procurement-supply-chain-worldwide/
GoComet. "Procurement rate contracts used by supply chain companies in 2020." Chart. June 20, 2020. Statista. Accessed November 22, 2024. https://www.statista.com/statistics/1182151/rate-procurement-supply-chain-worldwide/
GoComet. (2020). Procurement rate contracts used by supply chain companies in 2020. Statista. Statista Inc.. Accessed: November 22, 2024. https://www.statista.com/statistics/1182151/rate-procurement-supply-chain-worldwide/
GoComet. "Procurement Rate Contracts Used by Supply Chain Companies in 2020." Statista, Statista Inc., 20 Jun 2020, https://www.statista.com/statistics/1182151/rate-procurement-supply-chain-worldwide/
GoComet, Procurement rate contracts used by supply chain companies in 2020 Statista, https://www.statista.com/statistics/1182151/rate-procurement-supply-chain-worldwide/ (last visited November 22, 2024)
Procurement rate contracts used by supply chain companies in 2020 [Graph], GoComet, June 20, 2020. [Online]. Available: https://www.statista.com/statistics/1182151/rate-procurement-supply-chain-worldwide/
