B2B Payments

Partnership Creates Facebook for the Food Supply Chain

As the B2B supply chain becomes increasingly globalized, both buyers and suppliers must navigate regulations that can often differ greatly from jurisdiction to jurisdiction. The regulations within the world’s food industry are especially strict. A new partnership aimed to facilitate this regulatory compliance has entered the scene and is looking to break new ground in the B2B food solutions world.

According to reports, B2B certification and inspection firm SGS inked a collaboration with EU-based supply management solutions provider Trace One. SGS is using Trace One technology to launch what it claims to be the world’s first B2B social network for supply chain transparency, according to reports, through a new platform to help manufacturers and suppliers reduce risk and ensure regulatory compliance.

Most of all, SGS said, the new service will offer end-to-end visibility into the supply chain through the use of data analytics.

Developed with the food supply chain in mind, the new solution can identify ingredient origins and ensure regulatory compliance of those products. Organizations can invite their business partners to join the so-called B2B social network to collaborate and swap information and documentation, reports said. Companies can communicate privately or publicly and use the tool from their Web browser.

The service operates on the cloud, allows SGS to ensure the most up-to-date and accurate information regarding supply chain products. The platform will also offer recall notifications, industry alerts, and overall supply chain risk for brands.

According to reports, the platform was constructed on the same model that runs some of the leading social media sites, including Facebook and Twitter. Trace One CMO Chris Morrison told media that a social media design allows players within the food supply chain to gain unprecedented visibility into operations. “By inviting all or a selection of partners to join their network, brand owners can access information including the number of partners in the supply chain, how much visibility they have into these partners and areas to improve for greater transparency,” he said.

Reports said that the service will offer certification and verification tools from Trace One to ensure that data is protected and information submitted through the platform is safe and accurate.



On Tuesday, March 31, 2020 at 9:00 AM (ET) join PYMNTS CEO Karen Webster and panelists Vincent Kilcoyne and Roland Brandli of SmartStream for an in-depth discussion on the need to use transformative digital strategies to remain relevant in today’s challenging financial landscape. The discussion will cover strategies that will allow clients to improve operational control, reduce costs, build new revenue streams, mitigate risk and comply accurately with regulation.

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