FDBusiness.com

Retailers need to be careful to protect £30m investment in FIR compliance, says Trace One

 Breaking News
  • Coca-Cola HBC to Acquire Italian Water and Sparkling Beverages Company in €88 Million Deal Coca‑Cola HBC has agreed to acquire Acque Minerali, a privately-held natural mineral water and adult sparkling beverages business based in Italy. The acquisition is being made in conjunction with The Coca-Cola Company, in-line with previous similar acquisitions. The total enterprise value payable by Coca‑Cola HBC and The Coca‑Cola Company, subject to customary closing adjustments, amounts [...]...
  • Britvic Signs Up to Science Based Targets Initiative Britvic has pledged to pursue bolder greenhouse gas (GHG) emission reduction targets by signing up to the Science Based Targets initiative. Britvic joins around 600 leading companies from around the world in formally committing to independently verified science-based GHG emission reduction targets. Britvic’s A Healthier Everyday sustainability strategy recognises climate change as one of the biggest threats facing [...]...
  • Marks & Spencer Partners Infarm to Bring Urban Farming to London Stores M&S Food is partnering with infarm – one of the world’s most advanced urban farming platforms – to deliver a range of fresh produce grown and harvested in a selection of the retailer’s London stores. Customers will now find a range of fresh herbs – including Italian, Greek and Bordeaux Basils, Mint, Curly Parsley and Mountain [...]...
  • Coca-Cola European Partners to Remove 4,000 Tonnes of Single-use Plastic by Swapping Shrink Wrap For Cardboard in Western Europe Coca-Cola European Partners, will be replacing plastic shrink wrap with cardboard for its can multipacks across Western Europe, removing approximately 4,000 tonnes of single-use plastic per year across the region. This is the latest move in Coca-Cola’s commitment to tackle packaging waste and remove all unnecessary single-use plastic from its secondary packaging. Plastic shrink wrapping is used [...]...
  • EU Leading in Global Agri-food Trade The EU has been confirmed for yet another year in its position as the largest global exporter of agri-food products, with sales reaching €138 billion in 2018. Agriculture products represent a solid share of 7% of the value of EU total goods exported in 2018, ranking fourth after machinery, other manufactured goods and chemicals. Agriculture and [...]...

Retailers need to be careful to protect £30m investment in FIR compliance, says Trace One

December 08
14:48 2014

trace1Label software company Trace One has said that while efforts have been made to address the EU’s upcoming Food Information Regulation (FIR) legislation, mistakes may have still been made by food retailers and manufacturers.

The company also said that retailers will face several additional costs in case their products are found to be non-compliant.

The average cost of a label change is more than £3,000 per product and a typical large retailer with 10,000 product lines would have to spend up to £30m on FIR compliance.

A non-compliant product is usually fined up to £5,000 or more per incident of non-compliant labelling. However, that is not significant enough when compared with the price of discarding finished product, re-designing labels and manufacturing and distributing replacement stock.

Trace One stated that such a mistake could cost a retailer more than £100,000 for each affected product.

Under the FIR legislations, retailers are supposed to know more and tell consumers more about their label products. They have to be confident about the information that they receive from their suppliers and have to pass on the accurate information to consumers.

This can be achieved by sharing detailed specification information.

Trace One Northern Europe senior vice-president Nick Martin said: “Closer collaboration and complete transparency between retailers, manufacturers and suppliers will be crucial in validating that products are what they say they are.

“Retailers and manufacturers should ensure data is transparently shared between all parties in the supply chain so that information such as the country of origin of primary ingredients can be quickly and easily determined.

“As much as possible of this process should be automated, so that any changes will be made consistently and in accordance with legislation. Not only does this help reduce the cost and complexity of a label change, it also means that the retailer can have total confidence that they know and can demonstrate the provenance of every single product.”

About Author

admin

admin

Related Articles

Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • October 1, 2019PPMA Total Show
  • October 17, 2019Future Food-Tech
  • November 18, 2019Plastics Caps and Closures Conference 2019
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements