ReposiTrak Adds 25 New Produce Companies to the Queue for the Rapidly Expanding Food Traceability Network
ReposiTrak has announced the addition of 25 new produce companies to its ReposiTrak Traceability Network (RTN), aiming to ensure compliance with FSMA 204. The RTN, a cloud-based solution, facilitates the exchange of FDA-required Key Data Elements (KDEs) for Critical Tracking Events (CTEs) without the need for additional hardware or software. The new members include fruit growers, vegetable producers, and organic farms, some with over a century of history. This move aims to help suppliers meet the January 2026 compliance deadline while maintaining high standards of quality and traceability. Randy Fields, CEO of ReposiTrak, emphasized that the RTN allows suppliers to seamlessly share traceability data with retail and wholesale customers at a low, flat fee.
- ReposiTrak adds 25 new produce companies to its network, expanding its reach.
- RTN enables FSMA 204 compliance without additional hardware or software.
- The new members include reputable producers with long histories, enhancing credibility.
- RTN allows suppliers to share FDA-required traceability data easily and cost-effectively.
- Suppliers can connect to an unlimited number of retail and wholesale customers.
- Potential risk of over-reliance on a single cloud-based solution.
- Compliance deadline of January 2026 could be challenging for some suppliers.
Insights
ReposiTrak's recent addition of 25 new produce companies to its Traceability Network is noteworthy for several reasons. Firstly, it significantly broadens the network, enhancing its reach and solidifying its position as the largest food traceability and regulatory compliance network globally. This bolstered network can attract more stakeholders, potentially increasing ReposiTrak's revenue streams as more companies seek to comply with the FDA's stringent FSMA 204 regulations.
Moreover, the seamless integration without the need for additional hardware or software minimizes barriers to adoption, influencing more companies to join the network. This strategy reduces operational friction and accelerates compliance, a vital consideration given the January 2026 deadline.
For retail investors, this expansion indicates a robust growth trajectory for ReposiTrak. The added produce companies, some with long-standing market reputations, underscore the trust and reliability placed in ReposiTrak's technology. This move can bolster investor confidence, potentially reflecting positively on stock performance in both the short and long term.
From a financial perspective, the addition of 25 new companies to ReposiTrak's network can have several implications. Firstly, the low, flat fee structure for unlimited connection points offers a predictable revenue model which is favorable for financial forecasting and stability. This approach can lead to an increase in subscription-based revenue, enhancing financial stability and attractiveness to investors.
Additionally, the incorporation of well-known, historic produce companies into the network may signify a growing market penetration and trust in the platform. This can drive further adoption across the industry, potentially leading to exponential growth in user base, hence improving valuation metrics.
Investors should consider the scalability of ReposiTrak’s model, which allows for easy onboarding without additional costs, making it an attractive option for companies looking to comply with FDA regulations efficiently.
ReposiTrak enhances its roster with new produce companies currently in the queue to join the ReposiTrak Traceability Network, enabling FSMA 204 compliance with an automated, cloud-based solution that requires no additional hardware or software
ReposiTrak (NYSE:TRAK), the world’s largest food traceability and regulatory compliance network, leveraging its established inventory management and out-of-stock reduction SaaS platform, is preparing to welcome 25 new produce companies into the ReposiTrak Traceability Network® (RTN). These new members will efficiently exchange intricate, FDA-required Key Data Elements (KDEs) for each Critical Tracking Event (CTE) in their supply chains, ensuring proactive compliance before the January 2026 deadline.
Among the 25 produce companies in the queue are leading fruit growers, esteemed vegetable producers, and innovative organic farms. Notably, the latest additions include a prominent berry producer with 100 years of history, an historic tropical produce company with a 130-year legacy, and a family-owned greenhouse-grown produce pioneer that has been in business for 65 years. These suppliers pride themselves on producing consistently flavorful and high-quality fruits and vegetables, such as gourmet tomatoes, peppers, cucumbers, and berries. They showcase a diverse range of produce, setting high standards for quality and traceability in the industry.
"By joining the ReposiTrak Traceability Network, these produce suppliers can fully comply with FSMA 204 without the need for additional hardware or software," stated Randy Fields, Chairman and CEO of ReposiTrak. "Our solution allows them to easily share the FDA-required Key Data Elements with any of their retail or wholesale customers."
The ReposiTrak Traceability Network requires no additional hardware or software and the ReposiTrak team assists in making the connections needed under the new regulation. Suppliers can connect to an unlimited number of retail and wholesale customers to share traceability data for a low, flat fee.
About ReposiTrak
ReposiTrak (NYSE: TRAK), formerly Park City Group, provides retailers, suppliers and wholesalers with a robust solution suite to help reduce risk and remain in compliance with regulatory requirements, enhance operational controls and increase sales with unrivaled brand protection. Consisting of three product families – food traceability, compliance and risk management and supply chain solutions – ReposiTrak’s integrated, cloud-based applications are supported by an unparalleled team of experts. For more information, please visit https://repositrak.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20240529757182/en/
Investor Relations Contact:
John Merrill, CFO
Investor-relations@repositrak.com
Or
FNK IR
Rob Fink
646.809.4048
rob@fnkir.com
Source: ReposiTrak
FAQ
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