The following blog is contributed by Medha Pratap, Senior Manager, Solutions Marketing at 1WorldSync.
According to Fortune Magazine, food contamination costs the food industry $55.5 billion a year. Historically, the foodservice industry has focused on how to manufacture, distribute and sell items. However, in recent years, there has been a shift and product content transparency is a key component driving buyer behavior.
Consumers are increasingly active participants in product attribution, basing their purchasing decisions on information beyond the standard product label to attributes like ingredient origins and composition. There are also more government regulations around menu labelling and nutritional standards that foodservice manufacturers, brokers and distributors must address.
FoodLogiQ & 1WorldSync: Powerful Alone, Better Together
1WorldSync, the leading multi-enterprise product information network, and FoodLogiQ, are in a close partnership to provide the entire spectrum of the food supply industry with a supply chain traceability solution that delivers transparency while tackling food safety and compliance issues.
“Food industry trends are changing fast—sometimes faster than what you and your supply chain can keep up with. From the customer demand for transparency to the U.S. Food and Drug Administration’s mandate for better processes, traceability is no longer just a nice-to-have asset. Without this sort of insight, keeping up with the evolving industry will be highly problematic, if not impossible,” says Dean Wiltse, CEO of FoodLogiQ.
“The fresh food industry has struggled in the past in figuring out a way to engage in true data synchronization with their retail and foodservice partners,” explains Nick Manzo, Global Omni-Channel Lead at 1WorldSync. “1WorldSync’s product information and fresh industry solutions coupled with FoodLogiQ’s enhanced traceability and supply chain management capabilities allows the fresh industry an opportunity to be fully engaged in global product information sharing.”
Turning Global Food Supply Chain Transparency into Shopper Insights
As supply chains expand, transparency and traceability are strategic initiatives for businesses within the food industry. Ingredients and labeling is increasingly mandatory, not just because of FSMA and regulations but because customers are demanding it.
On September 21st, join industry leaders from FoodLogiQ and 1WorldSync for a compelling webinar on:
The challenges and market forces in delivering safe and quality food products to the consumer and driving supply chain transparency
How companies are adopting transparency and traceability to drive business goals
The technology and skills needed to ensure customer loyalty while protecting your brand