Salt Lake City, UT and Arlington, VA – ReposiTrak™, a food and drug safety solution backed by retail technology experts Park City Group (NASDAQ: PCYG) and international food safety and health consultants Leavitt Partners, today announced a joint agreement in which Food Marketing Institute (FMI) the leading supermarket industry trade association, will exclusively endorse and encourage the use of ReposiTrak among its food retail and wholesale members.
Under the agreement, ReposiTrak will be the exclusive solution provider endorsed by FMI in connection with the food and drug safety traceability of goods and related services, including document management. FMI will introduce ReposiTrak to its members, which operate nearly 40,000 stores and 25,000 pharmacies.
“Food safety is the number-one priority for our members,” Dr. Hilary Thesmar, FMI vice president for food safety programs remarked.
“At FMI, we are working to help our members protect their customers and employees, meet all federal and state regulatory mandates, safeguard their brands and reduce financial risk. Traceability is increasingly important to everyone in the food industry and retail is no exception,” Thesmar continued.
“ReposiTrak is appealing because it is interoperable and can work with any system retailers have in place now for tracing products and can “talk” with other software systems. ReposiTrak augments our existing food and drug safety efforts, such as Rapid Recall Exchange and SQFI (Safe Quality Foods Institute), with a proven, comprehensive and easy to implement solution that doesn’t require systems changes and is extremely cost effective.”
Powered by Park City Group’s technology, ReposiTrak enables grocery warehouses, supermarkets, packaged goods manufacturers, food processing facilities, growers, drug stores and drug manufacturers, and logistics partners to track and trace products and components throughout the global food, drug and dietary supplement supply chains. The technology solves the information exchange challenge and is completely interoperable with other systems without hardware purchase or software installation. ReposiTrak also reduces risk in the supply chain by receiving, storing, maintaining, sharing, and providing compliance reporting and proactive expiration alerting of audit, inspection and regulatory documentation required between supplier and customer, all from one convenient location.
“FMI is committed to helping its members and their suppliers reduce time and risk in their supply chains, so it is rewarding to join with them in making the supermarket industry even safer. ReposiTrak and FMI will work to ensure supermarkets and their suppliers can easily, efficiently and cost effectively meet federal food and drug safety requirements while reducing the their financial exposure to the risks associated with contaminated food and drugs,” said Randy Fields, Chairman & CEO of Park City Group.
Fields continued, “We are proud to be partnering with FMI to offer our food and drug safety track and trace platform to the retail food industry. Given its reputation and scale, this partnership clearly makes us the industry standard. We believe that our comprehensive abilities-document management, track and trace across food, supplements and drugs coupled with a very small cost and extraordinary ease of use will allow for even faster adoption of ReposiTrak.”
Food Marketing Institute (FMI) proudly advocates on behalf of the food retail industry. FMI’s U.S. members operate nearly 40,000 retail food stores and 25,000 pharmacies, representing a combined annual sales volume of almost $770 billion. Through programs in public affairs, food safety, research, education and industry relations, FMI offers resources and provides valuable benefits to more than 1,225 food retail and wholesale member companies in the United States and around the world. FMI membership covers the spectrum of diverse venues where food is sold, including single owner grocery stores, large multi-store supermarket chains and mixed retail stores. For more information, visit www.fmi.org and for information regarding the FMI Foundation, visit www.fmifoundation.org
ReposiTrak is collaboration between Leavitt Partners and Park City Group. The collaboration provides food retailers and suppliers with a robust solution to help protect their brands and remain in compliance with rapidly evolving regulations in the Food Safety Modernization Act. Powered by Park City Group’s technology, ReposiTrak is an internet-based solution that enables all participants in the farm-to-table supply chain to easily manage tracking and traceability requirements as products move between trading partners. More information is available at www.repositrak.com.
About Park City Group
Park City Group (NYSE MKT: PCYG) is a Software-as-a-Service (“SaaS”) provider that brings unique visibility to the consumer goods supply chain, delivering actionable information that ensures product is on the shelf when the consumer expects it as well as providing food safety tracking information. The Company’s service increases customers’ sales and profitability while enabling lower inventory levels and ensuring regulatory compliance for both retailers and their suppliers. Through a process known as Consumer Driven Sales OptimizationTM, Park City Group helps its customers turn information into cash and increased sales, using the largest scan based platform in the world. Scan based trading provides retail trading partners with a distinct competitive advantage through scan sales that provides store level visibility and sets the supply chain in motion. And since it is scan based, it can be used in a Direct Store Delivery (DSD) or warehouse setting.
About Leavitt Partners
Leavitt Partners advises clients in the health care and food safety sectors. The firm applies its experience, knowledge and a network of global relationships to serve our clients. As a food safety and health care intelligence business we provide the best available window to the future of American health care. More information is available at www.leavittpartners.com.