Managing Risk & Performance through the Complete Supply Chain
How Effective is your supply chain management?[/fusion_text]
- Active up-stream and down-stream alerts.
Food safety and traceability problems can be registered by a supplier in the food chain and the system will automatically alert affected participants throughout the supply chain.
- Real time lookup and query.
Consumers can check the batch code of products they have purchased via the web site to see if the particular (batch) product they have bought is affected by some recall notice.
- Active Brand protection
The large retailer is taking steps to avoid a recall problem becoming a major event. The system can help to reduce the risk or a food contamination problem leaking out to consumer base and causing illness or death. Upon scanning of a product at the point of sale the POS system could query the VerifyFood.com cloud and tell the customer in real time if there was a recall notice or alert on that specific batch of product.
- More effective supply chain Auditing and management
Most large retail companies and food companies have dedicated supplier Audit and quality management functions. The VerifyFood.com system would provide a tool to help automate the auditing of the supplier base making this more effective cost efficient.
Verify Supply Chain Management
Larger companies are most at risk from their supply chain Management. Poor quality and safety controls within the supply chain can place the main brand at risk.
The VerifyFood.com portal allows supply chain communities to manage safety and traceability issues through the complete supply chain. Data streams from each company (i.e. traceability nodes) can be automatically uploaded to the portal and the lot code information is automatically connected down the complete supply chain by the portal.
Large Food Companies can have full visibility of problem issues in their supply base to help minimize risk and manage safety to their back door and within their supply chain. It also provides facilities for on-line auditing and monitoring of supplier quality control systems thereby improving transparency and response times.
Today each FBO (Food Business Operator) is obliged to maintain traceability records that represent “One Step Forwards – One Step Backwards”. There is currently no global system available today that can connect up these links within the supply stream to provide a complete traceability map through the complete supply chain. VerifyFood.com offers this capability and could potentially save large retailers and corporate food companies millions of euro in terms of reputational risk and safety management.
The pork recall in Ireland in 2008 ultimately cost the exchequer €150 Million. Additionally, many irish food companies had to carry losses in the order of many hundreds of thousands of euro on their own accounts even after processing compensation claims with the government.
Verify Traceability is an Irish software company that provides business management, traceability and HACCP systems to food companies. They are an emerging leader in this field and have recently launched a cloud based technology called VerifyFood.com to help solve the problems relating to “connecting up the dots” through the complete supply chain with regards to Traceability and HACCP data.
Large retail companies and food companies are most at risk in relation to supply chain “glitches”. Even though most of these companies have excellent in-house quality systems they still have most to lose in relation to any traceability or hygiene problems that happen further back in their supply chain. This ultimately means that their supply chain management systems are isolated by nature and ultimately ineffective.