@Risk

Increased globalization introduces new risks throughout every company’s supply chain –but the challenges are particularly formidable for food manufacturers and distributors.

As remarkable as it sounds, statistics from the U.S. government show that food illnesses now sicken one in four Americans and kill 5,000 each year.

Of course, the food industry suffers from these outbreaks, too, losing not only precious consumer confidence, but billions of dollars in sales and legal costs, as well.
New food safety standards, certifications, and industry guidelines are evolving, as are long overdue updates to food safety legislation.

But, what can companies do today to ensure the safety of their business and their consumers?

A new report from Deloitte deep dives into this issue and suggests companies follow a holistic approach to manage food safety risks. According to the report, this type of comprehensive approach involves three fundamental steps:

• Assessing your company’s capabilities for preventing and responding to food safety threats

• Building the governance, skills, processes and systems to improve those food safety capabilities

• Monitoring risks and trends on a regular basis, adjusting the food safety program to address significant changes in an ever changing business landscape

“Companies that take a broad view of food safety and supply chain integrity — and quickly invest in the necessary skills, systems, processes and technologies — can get a jump on the competition. They can use food safety to differentiate themselves in the marketplace, increase revenue by better meeting customer needs, and reduce long-term costs and risk by avoiding problems that could tarnish their reputation and require costly remediation,” the report concludes.

Deloitte’s full report, “Safe to Move,” and a podcast, “Raising the bar for food safety,” are available here.