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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Today, supply chain transparency encompasses myriad issues ranging from ethical and regulatory considerations, such as implementing safeguards to prevent slavery and child traffi cking, to sustainability. Much of the change is driven by product failures (some rather well-known). We now have consumers, governments and companies demanding greater transparency about where and how goods get delivered. Supplier Relationships Supply chains always face risk that can potentially affect inventory management. A lack of visibility, traceability and control can result in a lack of direct infl uence over suppliers further down the supply chain, potentially leading to signifi cant problems. Visibility refers to a fi rm's ability to view and understand what is going on (upstream/downstream) across the supply chain. Supply chain visibility has a direct impact on the quantity and quality of a product's traceability and transparency. Traceability refers to the ability to track a product's provenance. To effectively control one's supply chain, one must manage the buyer-seller relationship well. Some of the concepts for this purpose are: Supply Chain Management Supply chain management is a term that describes the active management of supply chain activities to maximize value and achieve a sustainable competitive advantage. It involves understanding, responding to and utilizing the fl uctuations in a continually changing marketplace. These include the changes in information technology (IT), increased globalization of the marketplace and relationship management. One key part of supply chain transparency is the vendor relationship. Supplier Relationship Management Supplier relationship management is a concept or an approach focused on developing strategic planning and systematically managing vendor relationships. Supplier relationship management is focused on the joint value (partnership) created, which is based on trust, open communication and collaboration with a limited number of key suppliers. No single strategy will work for all suppliers. Supplier Performance Management Supplier performance management is a Supply Chain Traceability and Transparency by Robin C. Koon Contract Manufacturing: Supply Chain Transparency "A lack of transparency results in distrust and a deep sense of insecurity." —Dalai Lama

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