PHOTO: GLOWIT
INTERVIEW ▶▶▶ Guy Soreq
Using real-time market intelligence to navigate through rough water
All About Feed launched a new online feed additives price section in collaboration with Glowlit. Guy Soreq, founder Glowlit, explains the importance of real-time data, especially since the feed additives market has been disrupted by COVID-19 measures.
BY MARIEKE PLOEGMAKERS G
lowlit is a platform for market intelligence that creates value for users across the animal feed supply chain. The model anonymously crowdsources data from in- dustry professionals to give an unprecedented re-
al-time view of the market. Glowlit works by offering users access to a free price report in exchange for entering a valid delivered price for a selected product of interest. Prior to starting Glowlit, Guy Soreq had worked in positions spanning the supply chain, in- cluding purchasing, distribution and sales of raw materials. He un- derstood from his work in distribution that smaller companies have a real need for market intelligence and that the available solutions are often priced out of reach for small-and-medium- sized enterprises. Guy Soreq: “Glowlit was born out of a desire to solve these challenges. With it, we discovered an entirely new way of sourcing market intelligence.”
All About Feed: Did you found Glowlit because smaller com- panies didn’t have access to data on feed additive prices? We founded Glowlit because we saw a gap in the market for feed additive market intelligence for small-and-medium-sized compa- nies, which comprise about 90% of all industrial supply chain players. Multinational producers have always had the ability to ac- cess specialized market intelligence reports, but smaller distribu- tors and suppliers have traditionally been left out. And it’s a shame, because they are a remarkable source of data with eyes and ears on the ground. In engaging with this huge part of the
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market through our crowdsourcing model we saw an opportunity to shift from capacity-based to demand-based intelligence, which is a far more actionable reflection of the market. Our current situa- tion with COVID-19 has really highlighted some of the issues with overly relying on capacity. After all, what good is capacity, which at best predicts the upper limit of future supply, when markets are experiencing such significant disruption right now. We need re- al-time market intelligence to navigate these rough waters, and that is exactly what Glowlit offers.
Have there been many rapid shifts in prices the recent months, due to the impact of COVID-19? We’ve seen a number of significant price spikes in the wake of COVID-19; however, these shifts are not entirely new to the ani- mal feed industry. Consolidation among producers has always been a major factor in price volatility in our industry. Final cus- tomers often respond to this unexpected change by overstocking, further disrupting the stable, predictable flow of goods across the supply chain. The difference with COVID-19 is that now these dis- ruptions in supply are not limited to a single producer, but are ge- ographically based due to lockdowns, closed borders and trade restrictions. And, when multiple producers are clustered within a single region of the world, as is often the case with animal feed, we see massive disruptions to the entire supply chain. The de- mand side is also being impacted, from depressed economies to panic buying. Not only does this make for a volatile market, but the volatility actually looks different in different parts of the world and at different times.
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