Natural Products Insider

NOV-DEC 2018

INSIDER is the leading information source for marketers, manufacturers and formulators of dietary supplements, healthy foods and cosmeceuticals. Since 1997, INSIDER has been serving the needs of the global nutrition industry.

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108 INSIDER November/December 2018 necessary documentation used to (and still can) take up to weeks. Now all documents for every ingredient can be quickly uploaded into PDF format and placed online, allowing simple point-and- click access to download. This allows the sourcing, R&D and quality control (QC) departments to work effi ciently, saving signifi cant time and money. "Purchasing teams can then place their desired ingredients into a simple shopping cart and checkout just like any other online shopping experience," Jackson explained. Gupta added that comprehensive supply chain transparency will enable companies with strong internal controls and visibility to their supply chains to provide transparency to their consumers. This is the goal of DreamWeaver's TagOne@FarmtoAisle (TOFA) supply chain transparency solution, which is based on the Hyperledger blockchain platform. The idea is to help companies share relevant product/brand information with their end customers. That information can encompass ingredient details such as source and movement through the supply chain, the company's sustainability practices, quality documentation, etc. According to Jackson, product development and innovation teams can now use real-time market intelligence to build a project pipeline. E-commerce B2B ingredient platforms will provide services that allow companies to quickly and effi ciently test new product development and value propositions across a broad audience, and make necessary adjustments based on the real-time market intelligence prior to full production run and launch. Rapidly developing connectivity technology will also allow suppliers to create enhanced listings or virtual booths for their ingredients to offer full presentations. Buyers will be able to quickly compare ingredients, allowing companies that have huge investments in their brands to show off and sell their products more effectively. And, for example, "password-protected private virtual labs will also offer customized formulation and solution opportunities where buyers and sellers can communicate in real time," Jackson described. Consumer Connectivity Euromonitor International's December 2017 report, "Opportunities to Capture the New Digital Health Consumer," found that this subgroup will continue to buy more vitamins and supplements online as well as sports nutrition and over-the counter (OTC) products. Further, according to the report, digital health consumers will continue to act as their own doctor, track health and fi tness, and increasingly use apps to buy OTC drugs and/or fi ll prescription orders for pickup (or fast delivery). Consumer health fi rms would be wise to build strong relationships with these consumers, especially via mobile phones, which is increasingly becoming the most-used digital device for online purchases. "No one can deny that the increased interest of the consumer in the monitoring of their own health through gadgets and digital platforms is changing the world," said Jennifer Cooper, chief scientifi c offi cer, Savant Science. "The data derived from these devices provides the consumer with more insight into their own health, leading the consumer to develop higher standards for the industry. Consumers are seeking measurable improvements when using our products. They want to interact with your product, and they want your product to interact with their lifestyles." Countless online health blogs, direct-to- consumer (D2C) brand sites and apps may crowd the cyberspace, causing a shakeout or maturation in digital health commerce. Keena Roberts, senior consumer health analyst at Euromonitor International, explained, "It's a common perception that this market will level out at a certain point, where there are apps for everything and all the consumers who are likely to adopt digital health tools have already done so. Already there are apps that some consumers use and prefer through word of mouth, and others that offer the same tools but that they've never heard of. It will take time and building consumer trust, as well as proven effi cacy, to build a loyal following among digital health consumers." Cooper pointed to digital synchronizing that melds all key consumer healthy lifestyle inputs—self-testing, activity and sleep monitoring, supplement use, diet/ Technology Technology at SupplySide West Learn more about blockchain technology from Tom Dubinski, Trinanjan Gupta, Christian Shearer and Kantha Shelke during the "How Blockchain & Related Technology Is Transforming the Supply Chain" Workshop on Wednes day, Nov. 7 at 1:30 p.m. at SupplySide West in Las Vegas. Hear Shearer preview his session on blockchain technology and its ability to transform supply chains in the SupplySide West podcast: Using blockchain to drive positive change from farm to brand. Learn more about biotechnology from Leena Pradhan-Nabzdyk, Ph.D., during "The New Age of Biotechnology" Workshop on Wednesday, Nov. 7 at 9 a.m. at SupplySide West in Las Vegas. Learn more about personalized nutrition from Jennifer Cooper during the "Personalized Nutrition: Leveraging Technology and Big Data to Provide Actionable Insight and Effective Solutions" Workshop on Wednesday, Nov. 7 at 9 a.m. at SupplySide West in Las Vegas. supplysidesh ow.com Scan Here

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