LAFAYETTE, CALIF. — McKeany-Flavell, a provider of commodity analysis about a range of ingredients, has introduced an expanded commodity risk management program.
The new program was developed “in response to growing demand from customers in the food and beverage industry for enhanced risk management assistance,” according to McKeany-Flavell.
Founded in 1948 as a West Coast sugar brokerage company, McKeany-Flavell has expanded its reach from sweeteners to include a range of commodity ingredients, including edible oils, cocoa and chocolate, fruit and fruit concentrates, nutmeats, CBD, and other ingredients.
Shawn Bingham, director of risk management, has been named head of the new program. Mr. Bingham joined McKeany-Flavell in January 2021 to develop the offering and integrate his strategic systematic modeling platform.
“Successful procurement price risk management means striking a balance between supply assurance, cost avoidance and volatility,” Mr. Bingham said. “We recommend a portfolio strategy approach, using multiple tools and disciplines to achieve your procurement goals.”
Mike Caughlan, president and chief executive officer of McKeany-Flavell, added, “After months of preparation to establish a robust risk management service for our established clientele, we are proudly moving forward with this new program with great confidence. The addition of a highly experienced risk management professional like Shawn allows us to do so. Clients who are interested in benefiting from expanded risk management solutions during these volatile times should contact us directly.”