admin McKeany-Flavell, a provider of commodity analysis about a range of ingredients, has introduced an expanded set of commodity risk management program.
The need to develop this new program was as a “response to growing demand from customers in the food and beverage industry for enhancement in their risk management assistance,” according to McKeany-Flavell.
McKeany-Flavell was originally founded in 1948. It was established as a West Coast sugar brokerage company. In today’s world, it has moved on from its reach of sweeteners to include a range of commodity ingredients, which includes edible oils, cocoa and chocolate, fruit and fruit concentrates, nutmeats, CBD, and other ingredients.
The director of risk management, Shawn Bingham, has been recently declared as the head of the new program. Mr. Bingham joined McKeany-Flavell in January 2021 to develop the offering and integrate his own strategic systematic modeling platform. Shawn is a veteran of the futures and options industry and also a Chartered Alternative Investment Analyst. He has been a member of both the Chicago Board of Trade and Chicago Board Options Exchange and has worked for several industry recognized firms.
Mr Bingham claims that successful procurement price risk management essentially means hitting a balance between assurance of supply, avoidance of paying extra cost and extreme volatility in the current era. “We highly recommend an approach for the portfolio strategy, that takes advantage of multiple tools and disciplines so that you can achieve your procurement goals.”
President and chief executive officer of McKeany-Flavell, Mike Caughlan, further added to the above that they are very proud to be moving forward with this new program thus instilling them with great confidence. This could happen only after months of preparation which was required to establish a robust risk management service for their already established clientele. He also praised the inclusion of Shawn along with his relevant experience and expertise. He said, “The addition of Shawn Bingham, who is a highly experienced risk management professional, gives us to do great things. Clients who would be interested in drawing benefits from expanded risk management solutions during these volatile times should contact us directly.”
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