The 2022 R2 Release for Levridge is available with several new features integral to making a difference in businesses in the commodity processing market. View the overview below or read the full release notes here
Key Additions in 2022 R2 Levridge Release:
1. Inbound in-transit scale tickets
Larger commodity processors and elevators buy commodities from locations that require rail (or barge) transportation. The commodity is loaded at the (origin) customer location, submitted to the railroad, and shipped to the process or elevator. Elevators/processors want to know that the product is in transit, the quality of the product, and its estimated delivery, so they can manage their inventory, making sure there is room when it arrives, and schedule production based on the quality of the arriving commodity. Levridge has been enhanced with new functionality allowing users to enter inbound in-transit scale tickets with the origin weights. In addition, users can enter the inbound destination weights for those tickets when they arrive at the destination. The DPR has been enhanced with a “Memo” line providing a total of inbound in-transit product, the contracts enhanced with an inbound in-transit quantity, and the Long/Short reports have been enhanced adjusting for in-transit quantities. The in-transit functionality is encapsulated as a feature and can be turned on/off in Feature management.
2. Purchase contract apply partners
Customers/Growers sometimes share delivery responsibilities on a purchase contract. That is, sometimes a father and a son (or other related parties) enter into a purchase contract together. Either party can apply their product to the contract. Each party is paid separately, but they share the same contract. Each can apply whatever quantity they want as long as it doesn’t exceed the contract quantity. Levridge has been enhanced to allow the user to designate a list of eligible purchase contract ticket applicators. Default apply partners can be set up for each customer. Then, each purchase contract will default with those partners or the user can specify an apply partner for that particular purchase contract. During inbound ticket application, Levridge allows the application of scale tickets from any of the contract’s apply partners to that contract. Auto application of inbound tickets to purchase contracts has also been enhanced to look for apply partners during the application process.
3. Purchase advances
Growers may request an advance payment when commodities are delivered against a contract. Those advance(s) might be paid to themselves, or a third party. Commercial commodity companies routinely demand a 90% advance on the contract when the commodity is submitted to the railroad for shipment. Levridge has been enhanced to support the issuance, payment, and satisfaction of purchase advances. Additionally, during the purchase settlement, the user can select the advance(s) and amount of advance to deduct from the settlement. Purchase advances have no effect on DPR, Long/Short, or Mark to Market.
4. Mark-to-market by protein level
The protein content of wheat used to mill flour has a dramatic effect on the cooking characteristics of the flour produced. Flour mills diligently measure and track the protein content of wheat received. The various kinds of wheat are inventoried by protein content and blended to get the precise protein level required for a particular flour. A premium is usually paid for high-protein wheat. As such, the market value of the wheat is different by protein level. With wheat inventory, purchase contracts and sales contracts brought to market, the market value needs to reflect protein differences. Levridge has been enhanced to allow the market valuation of wheat by protein content. Market subzones have been created to accomplish this. Inventory warehouses are assigned a subzone. Purchase and sales contracts have been enhanced to separate the Mark to Market records from the long/short records so that a specific wheat item and protein content (subzone) can be specified on each contract. Those mark-to-market records are now used for the mark-to-market. The Market price entry has been enhanced to include protein (i.e subzone). The mark to market has been enhanced to look to the protein (subzone) level for the market price. The Market subzone is optional, so it can be left blank for commodities that do not need protein (subzone) level mark to market.
5. Print management support for commodity reports
Print management at the module and account level has been enabled for purchase and sales contracts (each type), sales and purchasing pricing confirmation, scale tickets, purchase, and sales settlement sheets, offer contracts, and sales and purchase advances. Print management provides specialized control of print settings for selected reports. Print settings include the number of copies, the printer destination including email, and the multi-language text that can be included in the report.
6. Commodity process manufacturing and sales orders update the Daily Position Report
The Daily Position Report (DPR) has been enhanced to look to additional non-ticket sources when reducing inventory. Manufacturing, when it consumes a commodity in the manufacturing process will now reduce the paid company-owned inventory on the DPR. In addition, any commodity invoiced in Ag Sales without a scale ticket will now reduce paid company-owned inventory on the DPR.
7. Commodity risk reports run for today
Commodity risk reports including the Long/Short Delivery position, Long/Short Hedge position, and the Long/Short audit report can now be set up to run automatically in batch thus allowing the user to schedule those reports for automatic printing or e-mailing.
8. Export tickets to AgXML
The agriculture commodity industry has adopted AgXML as a standard way to communicate the movement of a commodity from a seller to a buyer. Levridge Exchange has been enhanced to support the export of inbound, outbound, and transfer scale tickets in the AgXML commodity movement format. With this enhancement, Levridge users will be able to send electronic versions of tickets to partners such as brokers, buyers, sellers, mobile platforms, corporate headquarters, and any other party interested in ticket-by-ticket transactional detail.