When horse meat was passed off as minced beef and sold to people all around the world it sparked a scandal that shocked consumers and continues to affect the food industry and its regulatory oversight to this day. From melamine in dairy products to genetically engineered contaminated crops, counterfeit wine, incorrect product labeling, cocoa shortages, sustainability and ethical issues – the food industry has never faced more challenges.
As a result, the public’s trust in food has been destabilized, and as such, consumers demand to know more about the food they’re eating and feeding to their families. Consumers no longer trust so readily and often question more. These consumer pressures, along with core health and safety concerns demand proactive response from all those involved across the food industry, from farm to fork.
Heightened consumer focus, increasing supply chain complexity and advancing regulatory requirements have combined to change how leading companies consider and approach food trust and integrity. Leading companies apply a strategic yet coordinated and holistic view that embraces building food trust and integrity as a business imperative – not simply a regulatory requirement. They’ve moved beyond mandated standards of compliance to embrace more proactive, agile and resilient approaches that help reduce exposure to costly food safety breaches, prevent damage to hard earned brand reputation, and in some cases, enable the very viability of their business. Building customer trust through integrity is not simply a compliance issue – it’s a business imperative. Those who do it well will gain business advantage measured in brand loyalty, growth and profitability.
PwC helps leading companies not only understand what’s required, but develop business strategies to address what’s possible. We help companies address supplier risks, fraud detection and prevention, resource scarcity, changing consumer demands and the impacts and opportunities of technology advances. We help companies move well beyond compliance to implement strategies that embrace innovation and change, manage risks, reduce costs and protect brand. All while building distinctive consumer trust that translates to business advantage.