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ReposiTrak Adds 40 New Retail Food Suppliers to the Queue for the Rapidly Expanding Food Traceability Network

1. ReposiTrak adds 40 new suppliers, boosting food traceability network. 2. The network helps comply with FDA-required data standards for suppliers. 3. Data accuracy emphasized as crucial for effective traceability solutions. 4. No additional hardware needed, simplifying supplier connections. 5. ReposiTrak positions itself as a leader in food regulation compliance.

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FAQ

Why Bullish?

The addition of 40 suppliers indicates demand growth for TRAK's services, resembling past successful expansions that boosted stock performance.

How important is it?

This expansion aligns with growing market trends in food safety and traceability, likely enhancing TRAK's revenue outlook.

Why Long Term?

As traceability becomes increasingly critical, TRAK's long-term growth may benefit from expanding its supplier network.

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Retailers drive increased focus on food safety and traceability as 40 new suppliers enter the queue to join the ReposiTrak Traceability Network SALT LAKE CITY--(BUSINESS WIRE)--ReposiTrak (NYSE:TRAK), the world’s largest food traceability and regulatory compliance network, leveraging its established inventory management and out-of-stock reduction SaaS platform, is proud to add 40 retail food suppliers to the queue of companies joining the ReposiTrak Traceability Network® (RTN). These companies will efficiently exchange intricate, FDA-required Key Data Elements (KDEs) for each Critical Tracking Event (CTE) in their supply chains, with the goal of meeting the growing traceability demands of their retail customers. Several of the 40 new food suppliers bring decades of experience and innovation. One is the third-largest tea bag brand in the world, England-based and founded more than 180 years ago, bringing tremendous experience and expertise to the industry. Another is a Los Angeles-based company specializing in Japanese-inspired mochi ice cream, known for combining sweet rice dough with ice cream in a variety of flavors. A third, founded nearly 50 years ago, is a leading U.S. confectionery company known for developing successful sour candy and licorice brands that are sold across major retail channels. “Data accuracy is the foundation of effective traceability,” stated Randy Fields, chairman and CEO of ReposiTrak. “Every supplier has the data. However, every supplier’s data originates in a different system in a different format. ReposiTrak takes in the data from anywhere and validates it for accuracy before it gets to the retailer, wholesaler or foodservice operator. It is how we turn complexity into traceability.” The ReposiTrak Traceability Network requires no additional hardware or software and the ReposiTrak team assists in making the connections needed under the new regulation. Suppliers can connect to an unlimited number of trading partners and share data for a low, flat fee. About ReposiTrak ReposiTrak (NYSE: TRAK) provides retailers, suppliers, food manufacturers and wholesalers with a robust solution suite to help reduce risk and remain in compliance with regulatory requirements, enhance operational controls and increase sales with unrivaled brand protection. Consisting of three product families – food traceability, compliance and risk management and supply chain solutions – ReposiTrak’s integrated, cloud-based applications are supported by an unparalleled team of experts. For more information, please visit https://repositrak.com.

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