ReposiTrak Announces Food Traceability Leadership Consortium to Address Proposed FDA Regulations
ReposiTrak is forming the Food Traceability Leadership Consortium (FTLC) to enhance food tracing technology for retailers and suppliers. The consortium aims to create efficient solutions to meet the FDA's Food Traceability requirements under the Food Safety Modernization Act (FSMA), which may impact the industry within two years. Members will collaborate to deploy practical technology for tracking food shipments while avoiding costs associated with cumbersome labeling. ReposiTrak's platform supports extensive supply chain data flows, ensuring compliance and operational efficiency.
- Formation of FTLC to address FDA food traceability requirements.
- Collaboration among retailers, wholesalers, and suppliers to enhance food safety.
- ReposiTrak's established platform supports compliance with operational efficiency.
- Potential operational burdens on industry from new FSMA regulations.
- Risk of fragmented, non-interoperable systems if collaboration fails.
ReposiTrak, Inc., the industry leader in supply chain compliance and quality management technology solutions with a user network of over100,000 facilities, is forming the Food Traceability Leadership Consortium (FTLC) to help food retail industry leaders collaborate on the development of open, low cost, easy to use food tracing technology. The consortium is an invitation-only group of food retailers, wholesalers and select suppliers.
FTLC members will work to address the urgent need for an affordable and practical solution to meet the proposed FDA Food Traceability requirements of the Food Safety Modernization Act (FSMA) scheduled to impact the food industry within two years. The goal of the consortium is to create and execute a collaborative plan to deploy food shipment track and trace technology and prepare the industry for any potential changes to FSMA. Combining ReposiTrak’s highly scalable supply chain data sharing platform with the knowledge of seasoned retailers, wholesalers and suppliers will enable the consortium to gain experience with and shape the most practical and cost-effective technology for food traceability success.
“The ReposiTrak platform helps thousands of companies in the food supply chain meet current food safety regulatory requirements, so we are fully aware that many companies believe the proposed food traceability regulations will impose onerous financial and operational burdens on the industry,” says Randy Fields, chairman and CEO of ReposiTrak. “There is an affordable technology-enabled solution for the batch/lot level data tracking necessary to support food traceability, based on the ReposiTrak platform, which automatically handles similar data flows between trading partners on the scale of tens of millions of order/store/SKU data transactions daily.”
The proposed FSMA regulations require capturing batch/lot and similar shipment level data for a wide variety of fresh produce, seafood and dairy products as they move through the supply chain. This is a massive data management challenge as it represents thousands of products, tens of thousands of locations and millions of critical tracking events in a near daily basis. Cumbersome label and scan approaches involving manpower and process changes will be economically and operationally unsustainable at this scale of activity. The ReposiTrak technology requires neither labeling nor scanning.
The consortium is being launched with the expectation that the expansion of food traceability requirements is inevitable, and that the risk of retailers not working together with suppliers and solution partners now could be disastrous later.
According to Fields, “If an ‘every man for himself’ approach to food traceability prevails, the industry could end up with a hodgepodge of non-interoperable systems. This will create a ‘balkanized’ supply chain where systems can’t share critical traceability data between trading partners, resulting in massive operational complexity. Food retailers can’t afford to let that happen, which is why we are engaging the industry now on a solution that involves no new labelling, no operational process change and is affordable down to the smallest supplier.”
ReposiTrak welcomes inquiries from retailers, wholesalers and suppliers interested in joining this initiative for improved food safety through better recall execution and expanded food tracing capabilities. For more information, contact Derek Hannum, SVP of Customer Success for ReposiTrak at 435-645-2230 or dhannum@repositrak.com.
About ReposiTrak
ReposiTrak (Park City Group, NASDAQ: PCYG) provides retailers, suppliers and public sector agencies with a robust solution suite to help reduce risk and remain in compliance with regulatory requirements; enhance operational controls; source and discover new vendors; and increase sales with unrivaled brand protection. Consisting of three product families—compliance and risk management, supply chain solutions and MarketPlace sourcing—ReposiTrak’s cloud-based platform’s integrated applications are mutually reinforcing and work synergistically to create value and positive impact.
Forward-Looking Statement
Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “if”, “should” and “will” and similar expressions as they relate to Park City Group, Inc. (“Park City Group”) are intended to identify such forward-looking statements. Park City Group may from time to time update these publicly announced projections, but it is not obligated to do so. Any projections of future results of operations should not be construed in any manner as a guarantee that such results will in fact occur. These projections are subject to change and could differ materially from final reported results. For a discussion of such risks and uncertainties, see “Risk Factors” in Park City’s annual report on Form 10-K, its quarterly report on Form 10-Q, and its other reports filed with the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210311005557/en/
FAQ
What is the Food Traceability Leadership Consortium formed by ReposiTrak?
How will the FTLC help meet FDA Food Traceability requirements?
What are the challenges addressed by the Food Traceability Leadership Consortium?
Why is collaboration important for the food retail industry?
What technology does ReposiTrak offer for food traceability?
