By David Dorf-Oracle on Feb 10, 2015
Today's posting comes from Paul Woodward, formerly with MICROS and now part of the Oracle Retail family. Paul has 20 years experience dealing with the supply chain with recent focus on brand compliance.
This month the New York attorney general accused GNC, Target, Walgreens, and Walmart of selling fraudulent herbal supplements whose contents did not match the labels. Four out of five products did not contain ingredients matching the label and often instead contained cheap fillers, which could potentially harm those with allergies.
With the many scares over the past 12 months including the use of horse meat in Europe, the need for retailers to demonstrate due diligence in their collection, capture, and validation of supplier and product data is now fundamental to the protection of their brand and consumer trust.
As consumers, we continue to drive complexity into the supply chain -- we want greater ranges, experimental flavours, convenient ready to go products, choice of price points and an appreciation of our dietary needs. This creates a significant risk for the retailer as they balance bringing products to market quickly to meet the demand whilst ensuring thorough assessment of these ranges.
Just ten years ago consumers didn’t really care. They didn’t ask for the information and they probably didn’t know they needed it. Now a third of consumers are allergic to something and 1 in 6 has a form of food related illness each year. This, along with our thirst for better living, healthier options, and the media's encouragement to know more, is firmly establishing that if it’s your label, it’s your product, and it’s your problem.
The average retailer is now handling over 10,000 active products from 2,000 production sites worldwide, and as the FDA and regulative requirements continually evolve and demand more transparency. Retailers are faced with an ever increasing risk of failing to meet their brand promises.
Oracle Retail MICROS mycreations has been specifically developed to support this requirement. With over 20 years of proven capability in enabling the growth and protection of private label brands worldwide, the brand compliance cloud platform empowers retailers to collaborate with their supply chain in efficiently providing accurate and reliable data the consumer can trust.