Food Trust Food safety - IBM

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Food Trust Food safety - IBM

Transcript Of Food Trust Food safety - IBM

Focus on
food safety

Improving food safety across the supply chain
Food recalls are an immense safety problem and a threat to profitability. Last year, Food Safety magazine counted 337 food safety recalls in the US1. Companies surveyed put costs at up to $30 million per incident2, stemming from direct costs plus such indirect costs as penalties, lawsuits, lost sales and brand damage. In addition to the societal and business impact, huge stocks of food are wasted and consumer trust is crushed.
What’s standing in the way of taking food safety concerns off the table?

Not all companies can quickly identify the cause of a food safety incident Tracing food across the supply chain takes days, if not weeks, as companies struggle to track a mix of digital and paper-based food data documentation across a complex and growing network of suppliers and distributors.
Gaps in supply chain monitoring create vulnerabilities Deficiencies in production and monitoring processes expose the food system to vulnerabilities that could be eliminated. In response, some retailers are deploying blockchain for end-to-end traceability and monitoring of food products in the supply chain.3
Outdated food traceability practices aren’t built for the modern era Regulators are now demanding state-of-the-art practices and modern technologies to ensure food safety, and blockchain can help bring organizations up to standard.4

Blockchain for the food system
With a digital food system, network participants have access to tools and data to improve food safety and become a proactive contributor to bettering the food system as a whole. Blockchain technology stores digitized records in a decentralized and immutable manner, promoting trust and transparency which in turn helps to better the food system and ensure safer food.

Transparency Know the provenance, real-time location and status of any food product. A transparent food system is an accountable food system.
End-to-end traceability If a food safety issue is reported, it is immediately clear who is impacted and who should take action.
Food confidence With IBM Food Trust, you have a trusted source for increased supply chain visibility. Additionally, organizations can know which foods have been grown or produced in a certified manner, reducing contamination risks and potentially harmful food fraud along the supply chain.

“IBM Food Trust achieves new levels of trust and transparency, making food safer and smarter from farm to fork.”
Scott Gottlieb, FDA Commissioner

Improving food safety with IBM Food Trust
IBM Food Trust consists of different modules designed to help everyone in the food system collaborate, such as suppliers, manufacturers, distributors and retailers.
The Trace module has specific benefits to support food safety initiatives. Participants can securely and transparently trace the location and status of food products upwards and downwards in seconds to better manage food safety within their supply network.
The Documents module helps you securely manage certificates and documents for your organization, and access other permissioned documents in your supply network.
Leveraging blockchain and IoT technology, the Insights capabilities module can provide unprecedented visibility into how food is handled as it travels through the supply chain.
© Copyright IBM Corporation 2020. IBM, the IBM logo, ibm.com, and IBM Food Trust are trademarks of International Business Machines Corp., registered in many jurisdictions worldwide. Other product and service names might be trademarks of IBM or other companies. A current list of IBM trademarks is available on the web at “Copyright and trademark information” at ibm.com/legal/copytrade.shtml

IBM Food Trust creates a secure, shared and permissioned record of transactions. This enables unprecedented visibility during each step of the food supply chain, from grower to processor to distributor to retailer and every transporter along the way.
For more information contact your IBM representative or visit ibm.com/food
1. https://www.foodsafetymagazine.com/enewsletter/a-lookback-at-2019-food-recalls/
2. https://www.snackandbakery.com/articles/92105evaluating-the-real-costs-of-a-food-product-recall
3. https://theleadershipnetwork.com/article/how-walmartused-blockchain-to-increase-supply-chain-transparency
4. https://www.fda.gov/news-events/press-announcements/ statement-fda-commissioner-scott-gottlieb-md-findingsromaine-lettuce-e-coli-o157h7-outbreak
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