A new platform, The Food Industry Exchange, was created on May 6 to immediately address the urgent needs of retailers and wholesalers during COVID-19. The Exchange will showcase products and services available in a digital space and on an ongoing basis. The sustainable marketplace was created to immediately address the urgent needs of retailers and wholesalers by showcasing products and services available in a digital space and on an ongoing basis.
The Exchange is the creation of The Food Industry Association and The Seam, a provider of commodities trading and agriculture software solutions. Retailers requiring additional resources to fulfill needs at grocery stores are connected with sellers that have capacity of products, transportation services, labor, and warehousing services.
Not only specific to the COVID-19 pandemic, but the platform also fills long-term needs of FMI retailers/wholesalers for product discovery and procurement now, in future times of disruption and in good, blue-sky days.
“The tool ensures the food supply chain remains safe and efficient,” said Mark W. Baum, chief collaboration officer industry relations at FMI. “The new effort will make the process of connecting FMI and related product suppliers with capacity and FMI member companies in need of assistance, quick and more precise through a digitized system. This allows us to assist our FMI food retailers and wholesalers fulfill needs at grocery stores, which are experiencing skyrocketing demand, and at the same time assist our product supplier members in creating new relationships and providing their needs.”
The Exchange allows sellers to display availability of products (such as fresh meat, masks, labor services, transportation services, and traditional foodservice products) available during this pandemic crisis while taking advantage of the ability to support any disruptions in the supply chain for retailers and provide alternative solutions (including categories such as frozen foods, cereal and beverages).
The new buyer-seller platform connects suppliers/wholesalers with retailers, and vice versa, with a secure, verified and subscription-based platform. Added assurance will be provided through online credential displays, such as PACA licensing, certifications and more.
