Do you know what’s in your lasagne?
It’s hard to ignore one of the biggest supply chain stories in Europe as the test results from various food products across all 27 EU countries continue to roll in. I am of course referring to the recent issue of horse meat being found in beef products. The EU Standing Committee on the Food Chain is currently drawing up further plans to test beef products being sold across the EU. The most recent news points the finger at France as the main culprit behind the horse meat scandal. This issue highlights the complex nature of the food supply chain and has led to calls for more transparency.
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Accounting for risk
This week, the financial services giant, Deloitte, released a report exploring how global professionals are responding to risk in the supply chain. The report highlights growing concern amongst professionals as disruption is not only becoming more frequent but also more expensive. The survey suggests that 53% of businesses believe that the disruptions business encounter today have a much greater associated cost compared to three years ago. Furthermore, sudden unexpected demand and collapsing product lifecycles were highlighted as one of the biggest risk factors. Despite this however, according to the report only 36% of businesses have actually taken proactive steps to improve visibility and thus better manage supply chain risk.
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Supply chain inefficiencies hampering food industry
A hot topic at the third annual Sustainable Foods Summit held in San Francisco last week was the importance of increasing efficiencies along the food supply chain. More than 160 senior executives were in attendance and the consensus was that more needs to be done in the areas of food production, distribution and consumption in order to rid the food industry of its supply chain inefficiencies. New technologies such as online distribution, novel production methods and food authentication tools are set to impact the sustainable development of the food industry in the coming years.
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Have a great weekend!