Radical Transparency in the Ingredient Supply Chain
On July 20, 2017, Founder and President of ingredientsonline.com, Sherry Wang, and VP of Sales & Marketing, Peggy Jackson, sat down with Heather Granato, VP of Content for Informa, to discuss transparency in the supply chain at the NBJ summit in Ranchos Palos Verdes, Calif.
This informative conversation covered a wide array of topics to help share the message of how transparency is shaping business in the nutrition industry. With consumers now having instant access to information, they want to know the products they buy are healthy and safe, and where those products’ ingredients come from. This demand is forcing brands to reexamine their formulas, and in many cases, also source new and alternative ingredients.
Along with transparency, technology is also changing business and consumer expectations. Technology empowers the supply chain with efficiencies that save time, and saving time means saving money. ingredientsonline.com is at the fore-front of this technology shift in the nutritional industry with data that is transparent, quick, convenient and most importantly, interactive. It has given the customer control over their plans with the knowledge to make calculated choices.
With transparency affecting so much in a short amount of time, brands are reacting by changing their formulations and are also seeing their margins impacted. In the past, big brands have had “boots on the ground” or sourcing teams in different markets, especially China, but now that is becoming a thing of the past. Technology and transparency at the factory level has also allowed these brands to achieve their due diligence with that technology instead of utilizing their employees. ingredientsonline.com’s transparency at the factory level and our strong factory-direct relationships allow us to book one-on-one meetings with customers, giving them the opportunity to build those relationships as well. This also allows customers to secure pipelines and pricing on ingredients that have shortages.
All in all, transparency in the nutritional industry continues to affect every level of the supply chain and we expect this to continue. Below is the full video of Sherry and Peggy’s discussion with Heather. As you watch, consider how your company is evolving to meet consumer’s needs as transparency shapes the market. Also, consider how ingredientsonline.com’s transparency can contribute positively to these changes so future transitions are seamless for your entire supply chain.