Cargill has announced a new supply chain assessment tool, which can help food and beverage customers achieve their growth, cost reduction and risk mitigation goals by identifying, prioritizing and quantifying risks and opportunities in its supply chains.
The announcement was made at the 2013 Institute of Food Technologists (IFT) Food Expo. This tool is part of Cargill's commitment to operating responsible supply chains.
The tool enables Cargill and its customers to rapidly identify and assess areas of risk and opportunity so they can take action on responsible sourcing issues that may negatively or positively affect business, such as labor practices, the environment and biodiversity.
The tool converts these risks and opportunities into specific financial terms by assigning cost and revenue implications to those identified in the assessment as having the highest likelihood of occurrence and highest business impact.
The company's unique approach facilitates collaboration and alignment across all partners in the supply chain to move quickly to address issues and opportunities.
Cargill's food ingredients & systems businesses corporate vice president Scott Portnoy said that customers, consumers and other stakeholders are increasingly demanding more information around what's happening in the extensive supply chains.
"However, sustainability investments often struggle to gain traction as many organizations fall short of quantifying a return on investment. Our tool delivers a business case that enables responsible decision making and action."
Cargill is an international producer and marketer of food, agricultural, financial and industrial products and services. Founded in 1865, the privately held company employs 142,000 people in 65 countries.
