The results of a yearlong traceability pilot program with a major global retailer shows food traceability programs not only bring food traceability gains, but also drive up profits by an average of 55 percent
[Dublin, Calif.] iTradeNetwork, the leading global provider of supply chain software for the food and beverage industry, is in the unique position of being able to independently study data from the dozens of traceability pilot programs it has championed with retailers globally and domestically, and the findings are encouraging for grower profits.
New data from a traceability pilot with a major industry buyer shows that iTrade Transit customers increased their trading volumes on average by 55 percent, within 12 months – with some suppliers increasing volume by as much as 300 percent. The iTrade data analytics team also studied the incremental value for new growers joining the same global buyer’s supplier base and utilizing Transit. A sample of just four new growers added a combined $10 million in revenue over the same period.
Houweling’s Group, a world-renowned greenhouse grower and marketer participating in the program, comments: “Increased traceability was mandated by our buyer and met with a natural degree of hesitancy. We were concerned about added hardware costs and increased workload, but iTrade made it easy for us to comply quickly. We initially considered this a box ticking exercise, but in fact, it has improved our supplier/buyer relationship, and provided us with a trackable food safety halo. Traceability has become more than simply a compliance need; it’s a differentiator that helps us grow our business,” notes David Bell, CMO Houweling’s Group.
In response to increasing regulatory, consumer, and industry pressure for food safety, iTrade built the Transit solution from the ground up, and integrated it into the iTrade platform. The user interface is custom designed for simplicity with maximum real-time visibility. Suitable for growers of all sizes, it is a one stop solution to help comply with more stringent traceability requirements for leafy greens and other produce. Transit’s mobile capabilities capture traceability data at the source and transmit PTI Palletized Advanced Ship Notices from anywhere in the world. The tool impowers suppliers to offer buyers critical information as early as possible in a product’s journey through the supply chain–enhancing freshness, improving shelf readiness, and allowing buyers to maximize inventory and extend shelf life.
“From improving supply chain efficiencies and ensuring food safety to helping family farms, our traceability suiteprovides so many benefits to buyers, suppliers, and consumers alike,” said Rhonda Bassett-Spiers, CEO of iTradeNetwork. “It tracks commodities from field to fork, automates and accelerates receiving, improves shelf life, simplifies substitutions, and ultimately gives participants complete transparency into every step of a product’s journey.”
For more information about iTrade’s traceability suite, go to https://www.itradenetwork.com/. Growers interested in learning more about iTrade’s current ‘world’s safest food supply chain’ initiative and having an opportunity to experience a promotional offer of the iTracefresh traceability suite for a year, free of charge, should visit https://www.itradenetwork.com/itracefresh/item/.