Many consumers are becoming more selective about what food they eat, and it’s not because they’re picky about taste. Serious concerns have surfaced about food transparency, and people are starting to ask questions. Documentaries like Rotten urge consumers to think twice about where their food is coming from and what is really in it. The problem is those answers are not always readily available.
In addition to environmental concerns, such as long-distance food transportation, people are also more than a little worried about recent food recalls and safety. It’s an issue businesses have to seriously consider, as well. Studies estimate that apart from causing damage to the brand’s image, the average food recall can hit a company with $10 million in direct costs. Essentially, this is a problem no one wants.
FoodLogiQ has stepped up to offer a solution to bring transparency to consumers and businesses in the industry. The company tackles the problem of food safety and supply chain transparency solutions through their software technology. FoodLogiQ is able to untangle the complicated global food chain and bring everyone to one place to create “farm-to-fork traceability.” They welcome companies across the whole industry including food manufacturers and retailers, growers, co-packers, and produce marketers.
As FoodLogiQ maps the food supply chain around the world, their program empowers businesses to navigate the industry using a better and safer system. To make sure it works, the platform gives companies useful tech tools like supplier management, food safety compliance guidance, quality incident management, recall management, and whole chain traceability. When there is a problem with an item, the platform can “pinpoint exactly where adulterated food has gone in your supply chain, and remove it with precision.”
This helps companies because it streamlines their tracking systems into one cloud-based system so they can stay compliant and not lose sleep over any audits. They are also in a better position to minimize costs when dealing with messy food recalls.
This also helps customers because companies can pass on clear insights about their food and sustainability practices. That information provides useful details such as where the food was harvested, whether pesticides were used, where the foods traveled around, and how it was processed.
As FoodLogiQ expands, they’ve already signed on big names in the food industry. Chipotle Mexican Grill, Carl’s Junior, Subway, and Buffalo Wild Wings, and Panda Restaurant Group are among the many major food industry players that have jumped on board with FoodLogiQ’s platform. Even Whole Foods is signed up. All in, the platform has 7,000 registered businesses using its software in over 100 countries.
With massive business growth, comes plenty of attention from investors. The company announced last week that they have successfully raised $19.5 million in financing to fuel its fast-moving expansion across the food industry. FoodLogiQ plans to use the influx of cash towards key enhancements, like research and development.
According to Hypepotamus, FoodLogiQ’s CMO Katy Jones suggests this is an important moment of change in the food industry, “Food companies are embracing global standards to increase efficiencies and build a foundation for traceability and supply chain visibility.”
Jones also remarked on the mutual benefit of this approach to food, “As customers and consumers gain more visibility into the source of their food, greater accountability will be a natural result, and that means safer food for everyone.”