ReposiTrak Continues Rapid Expansion, Adds Four New Seafood Suppliers to Traceability

Rhea-AI Summary

ReposiTrak (NYSE:TRAK) has announced the addition of prominent seafood suppliers to its Traceability Network, ensuring compliance with FDA's FSMA 204 law well before the January 2026 deadline. The new members include leading sustainable fishery and global seafood distributors, leveraging ReposiTrak's established inventory management and out-of-stock reduction SaaS platform. The network requires no additional hardware or software, and suppliers can connect to an unlimited number of trading partners for a low, flat fee.

Insights

Supply Chain Management Expert

The inclusion of prominent seafood suppliers into the ReposiTrak Traceability Network signifies a strategic move in the food industry to enhance supply chain transparency. This is particularly relevant as the Food Safety Modernization Act (FSMA) Section 204 mandates comprehensive tracking of food items to prevent foodborne illnesses. By integrating Key Data Elements (KDEs) for Critical Tracking Events (CTEs), ReposiTrak is positioning itself as an essential service for suppliers to meet regulatory requirements.

From a supply chain perspective, the early adoption by these suppliers, well ahead of the 2026 deadline, could serve as a competitive advantage. It allows them to streamline operations and build trust with consumers increasingly concerned about food safety and provenance. Moreover, the ability to connect with an unlimited number of trading partners for a flat fee could disrupt traditional supply chain models, potentially leading to cost savings and improved efficiencies.

Food Safety Compliance Analyst

ReposiTrak's expansion is a direct response to the evolving regulatory landscape shaped by the FSMA's focus on traceability. By facilitating the exchange of crucial data, ReposiTrak aids suppliers in achieving proactive compliance, which is a significant undertaking given the complexity of global seafood supply chains. The emphasis on sustainability and safety standards by the new members reflects a broader industry trend towards responsible sourcing.

For stakeholders, this move implies a shift towards greater accountability and could potentially reduce the risk of costly food recalls. The flat-fee model for data sharing could also democratize access to compliance solutions, enabling smaller players to participate on equal footing with larger corporations. This could lead to a more resilient and responsive supply network in the face of disruptions.

Financial Analyst

The announcement by ReposiTrak may have a positive impact on investor sentiment as it demonstrates the company's growth and the increasing value of its traceability network. The addition of key players in the seafood industry could enhance the network effect, where each new member increases the value of the service for all participants. This can lead to a scalable business model with a potential for recurring revenue streams.

Investors should note the strategic timing of these partnerships. By securing commitments from suppliers ahead of the regulatory deadline, ReposiTrak may be positioning itself as an industry standard for food traceability. This preemptive move could translate into a long-term market advantage and possibly increased market share, which are critical factors for the company's financial performance and stock valuation.

The world’s largest, fastest- growing FSMA 204 food traceability network grows participation in key Food Traceability List category.

SALT LAKE CITY--(BUSINESS WIRE)-- 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, today announced the addition of prominent seafood suppliers, including a leading North American sustainable fishery and a major global seafood distributor, to 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 well before the January 2026 deadline.

The new members include:

• A family-owned and operated premium seafood company, proudly serving for over two decades with an unwavering commitment to the highest quality and safety standards.
• One of the largest privately-owned retail frozen seafood brands in North America, boasting a global operational footprint.
• A third-generation, Massachusetts-based seafood supplier, renowned for delivering the highest quality products for over a century, with a steadfast commitment to sustainability in every aspect of their operations.
• A leading scallop company based in Massachusetts, offering an extensive range of both fresh and frozen scallops sourced from domestic and international waters.

“Seafood suppliers are required to provide food traceability information to their customers under the FDA’s FSMA 204 law. Compliance is possible through ReposiTrak,” said ReposiTrak Chairman and CEO Randy Fields. “These four new suppliers are already in the process of making the connections with their customers and reaching compliance before the FDA’s January 2026 deadline.”

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 trading partners and begin sharing data for a low, flat fee and there is no cost to retailers.

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 repositrak.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240130904032/en/

Investor Relations Contact:

John Merrill, CFO

Investor-relations@parkcitygroup.com

Or

FNK IR

Rob Fink

646.809.4048

rob@fnkir.com

Source: ReposiTrak

FAQ

What is the ticker symbol for ReposiTrak?

The ticker symbol for ReposiTrak is TRAK.

What is the ReposiTrak Traceability Network?

The ReposiTrak Traceability Network is the world's largest food traceability and regulatory compliance network, leveraging its established inventory management and out-of-stock reduction SaaS platform.

What are the FDA-required Key Data Elements (KDEs) for each Critical Tracking Event (CTE) in the supply chain?

The FDA-required Key Data Elements (KDEs) for each Critical Tracking Event (CTE) in the supply chain are intricate data elements that suppliers are required to exchange to ensure proactive compliance with the FDA's FSMA 204 law.

What is the cost for suppliers to connect to an unlimited number of trading partners?

Suppliers can connect to an unlimited number of trading partners for a low, flat fee with no additional cost to retailers.

What is the deadline for compliance with FDA's FSMA 204 law?

The deadline for compliance with FDA's FSMA 204 law is January 2026.