Keep up with the latest thought-leading articles on traceability for food.
EMA isn’t just an economic issue, though. Depending on what is added, substituted, or left out, food fraud can lead to health issues, some major, and even death. Some examples include lead poisoning from adulterated spices and allergic reactions to a hidden, substituted ingredient that contains even just one food allergen.
Media: U.S. Food and Drug Administration – FDA
Total US consumer spending accounts for over $14 trillion annually and two-thirds of the US GDP. An important subset of this spending goes toward everyday consumer packaged goods (CPG), ranging from foods and beverages to cosmetics and cleaning products.
By: This article is a collaborative effort by Sherry Frey of NielsenIQ and Jordan Bar am, Vinit Doshi, Anandi Malik, and, Steve Nobel representing views from McKinsey’s Consumer Packaged Goods Practice.
Media: McKinsey & Company
Outside estimates by experts have found that food fraud affects 1% of the global food industry at a cost of about $10-$15 billion a year, although some more recent expert estimates put the cost as high as $40 billion a year.
EMA isn’t just an economic issue, though. Depending on what is added, substituted, or left out, food fraud can lead to health issues, some major, and even death. Some examples include lead poisoning from adulterated spices and allergic reactions to a hidden, substituted ingredient that contains even just one food allergen.
Media: U.S Food & Drug Adminstration
Technology innovations, and their supporting enabling environment, have the potential to support positive food system transformation. This report, developed by the World Economic Forum in collaboration with McKinsey & Company, focuses on the potential of emerging technologies to improve traceability in food value chains. The report explores the powerful opportunity for traceability to improve information about the provenance, safety, efficiency and sustainability of food and food supplies. traceability in food value chains.
Media: World Economic Forum in collaboration with McKinsey & Company
As people pay closer attention to the impact of what they buy on communities, society and the environment, transparency has become a critical differentiator. The time has come for consumer goods businesses to fix broken traceability systems and create consumer experiences around provenance that add meaning, inform purchase decisionmaking and deepen consumer relationships.
By: Pearly Neo
Media: Accenture
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