InstaNext, a premier provider of cloud-hosted commodity trading and risk management solutions, announced today that food giant, Rich Products, has licensed the InstaNext software.
Headquartered in Buffalo, NY, Rich Products Corporation is one of the world’s largest family-owned food companies with $3.7 billion in annual sales. The company currently manufactures and sells an expansive array of products in more than 100 countries spanning six continents. Rich’s is a leading supplier and solutions provider to the foodservice, in-store bakery and retail marketplaces and the world leader in non-dairy toppings, icings and other emulsions. Other key product categories include cakes and desserts; pizza and bakery products; breads and rolls; shrimp and seafood; appetizers and snacks; BBQ; meatballs and pasta; and gluten-free and all-natural items.
Rich Products was the first to license InstaNext’s Bill of Materials (BOM) Insights module released in April, as well as licensing the existing Commodity Management module. The InstaNext solution will enable Rich Products to capture top level finished goods forecasts and instantly calculate the required volume of each BOM component. The food company will be able to create cost projections and perform what-if scenarios due to changes in market conditions based on uncovered / unhedged portions of forecasts. “We are extremely excited that Rich Products has chosen to extend our commodity risk and coverage analysis software all the way to the Bill of Materials level,” stated EVP Global Field Operations Richard W Kulaszewski.
InstaNext is comprised of a team of software and technology experts in the fields of commodity trading, hedging, and risk management. With an extensive portfolio of prior successes in the CTRM industry, InstaNext provides intuitive solutions to help companies meet the challenges of the complex commodities world. The InstaNext platform simplifies every aspect of commodity trading and risk management. The multi-market platform allows companies to analyze their positions in real-time via its powerful analysis capabilities. With InstaNext, historical and scenario-based data can be used to compare current positions against changes in the market, allowing for more effective management of portfolio risk and ensuring profit margins are secure. Using the latest cloud-hosted technology, InstaNext can be implemented quickly and with low risk.
For more information please visit our website at www.instanext.com.