The 10th Annual Food Evolution Summit is coming up in September and TraceGains is excited to, once again, network with some of the food industry’s top minds.
In the wake of increasing globalization, consumers have taken it upon themselves to not only be more consciously aware of what they purchase, but also more educated about how these products are produced. Environmentally harmful production, slave labor and inhumane working conditions are just a few examples of certain issues that are being discussed.
Earlier this week, TraceGains had the opportunity to listen to Eric Pierce of NEXT Data and Insights, part of New Hope Media, speak on the topic of food tribes and how they have helped—and are continuing to help—to shape the way the food industry views their product innovation. And with the recent increase in the amount of organic and non-GMO products being purchased, it’s no secret that these tribes are part of a bigger picture—a force that is driving dramatic change and industry disruption.
On Feb 6, 2014, the U.S. Food and Drug Administration (FDA) published an interim final rule, along with two guidance documents, which sets standards for the manufacture of infant formula to further safeguard the health of infants fed infant formula in the United States. This rule applies to formula used by healthy infants without unusual medical or dietary issues.
Throughout the food industry, most, if not all, scorecarding of suppliers is driven by the constraints of purchasing and cost accounting systems. Supplier scorecarding provides valuable insight into the quality and reliability of a supplier and their product. Rating and ranking suppliers based on business-critical key performance indicators (KPIs) allows food manufacturers to understand how individual suppliers affect the company’s product quality, risk, compliance, customer satisfaction, and overall business performance.