PwC Singapore helps build food trust

PwC Singapore helps build food trust

Singapore, 16 October 2015–PwC Singapore is marking World Food Day by announcing the establishment of its Food Supply and Integrity Services business to help food companies, investors and governments tackle food security, safety and quality concerns.
Our Food Supply and Integrity service offering includes corporate governance, supply chain integrity, fraud prevention, traceability, crisis management, regulatory compliance, and transaction services.

In line with the theme of this year's World Food Day, Social Protection and agriculture: breaking the cycle of rural poverty, PwC believes that ensuring food availability, accessibility and affordability for the world’s population is a shared responsibility and needs to be taken on by industry, government and service organisations.

Governments are growing their regulatory efforts through increased oversight and sanctions in an attempt to improve food safety to give people greater trust in their food. Given the recent food failures, consumers are also demanding greater transparency on food traceability and the overall food production process.

Julia Leong, Partner, Food Supply and Integrity Services, PwC Singapore comments:

“As supply chains become increasingly complex, it poses a growing problem across industries, and unfortunately food is an area where supply chain failures can be fatal. Consumers want assurance and transparency from food companies and no longer want to rely on just the brand. The entire food supply chain from farm to fork must be well-controlled in order to be resilient against unforeseen events such as food fraud, intentional contamination and deliberate tampering.”

Building trust in food is among the most complex problems that business and society must solve, but it is also one of the greatest opportunities for food companies that get it right. A well-coordinated and strategic approach is needed in order to take a holistic view to identify, monitor and mitigate weak links in the food supply chain.

Yeoh Oon Jin, Chairman, PwC Singapore concludes:

"Food is an industry where customer trust and confidence is paramount. It’s a necessity of life, and its quality and safety should not be compromised. Singapore is strategically placed as a regional hub for many food companies. Coupled with Singapore's global standing as a country that upholds very high food safety standards, we see ourselves as a centre of excellence in the region to help in the food trust agenda. We are passionate about being able to help to improve trust in food.”

ENDS

About PwC’s Food Supply and Integrity Services

For more information regarding food trust in PwC Singapore, please access this page.

For an overview of PwC’s Food Supply and Integrity Services please see, ‘Food trust: Giving customers confidence in your food’. We discuss macro-economic trends that are increasing supply chain risks and changing the food industry, what best practice companies are doing and information about our services.

We are working with governments and food companies to help with challenges around their food supply chains – offering food security, safety, quality and recall management services.

PwC is offering its food supply and integrity services in China and New Zealand through an alliance with the New Zealand Government owned food safety and biosecurity company AsureQuality. They also have a world-class laboratory in Singapore. Elsewhere, PwC and AsureQuality are working together to offer their combined services to government and food company clients.

The report ‘Food trust: From compliance to competitive advantage’ discusses the background to increasing regulatory changes impacting the global food industry, along with the impacts of the US Food Safety Modernization Act (FSMA) for retail and consumer goods companies worldwide.