Course 2: Buying and Consignment Preparation of Australia Wool

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 outlined the role of the wool buyer and exporter, wool valuing, wool selection to meet the customer’s price limits, use of objective measurements to meet a customer’s specifications, purchasing and selling options, price risk management, consignment building and export and finance documentation as well as contracting and dispute resolution procedures.  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 also took part in a simulated practical wool valuing and auction exercise.