Description: A procurement professional with 25+ years of experience in the development and implementation of risk management and procurement strategies. Beginning in 1982 with sugar markets for the 7-UP Company and then moving to the bakery industries in 1994, Joe Schmidt has spent the majority of his career sourcing the “hard to find” bakery ingredients and developing new methods for taking the volatility out of some of the key commodity markets. His analysis of market trends has enabled many bakers to take more contr
risk management (1433) markets (887) procurement (866) commodities (617) joseph f. schmidt (1) joseph schmidt (1)
Understand The Basics of “Basis” - Basis analysis can be the foundation of pricing decisions .
Basis is simply the difference between local cash prices and the futures price at the CME. To start your analysis, collect basis for several vendors locations at least once a week. Over time, you’ll see clear marketing signals from the basis analysis.
Know the Cause