FMI, The Seam Create Food Industry Exchange
FMI —The Food Industry Association and The Seam, a Memphis, Tenn.-based provider of commodities trading and agriculture software solutions, have launched the Food Industry Exchange sponsored by FMI powered by The Seam. The sustainable platform was developed to immediately address the urgent needs of retailers and wholesalers by showcasing on an ongoing basis products and services available in a digital space.
The main goal of the exchange is to make the food supply chain vastly more efficient while providing a crucial tool in times of need. Food retailers requiring further resources to meet needs in their grocery stores are connected with sellers with capacity of products, transportation services, labor and warehousing services.
Beyond the COVID-19 pandemic, the platform aims to meet the long-term needs of FMI member retailers and wholesalers for product discovery and procurement at any time.
“The tool ensures the food supply chain remains safe and efficient,” explained Mark W. Baum, chief collaboration officer and SVP, industry relations at Arlington, Va.-based 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 [in fulfilling] 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 platform enables sellers to display available products – including fresh meat, masks, labor services, transportation services and traditional foodservice products – during the current crisis, while availing themselves of the ability to support any disruptions in the supply chain for retailers and provide alternative solutions in such as categories as frozen foods, cereal and beverages.
The buyer-seller exchange links suppliers/wholesalers with retailers, and vice versa, through a secure, verified subscription-based platform, with additional assurance provided via online credential display, including PACA licensing and certifications.
“As the current world pandemic increases, the demand to provide access to suppliers who have capacity for products and services, retailers/wholesalers are challenged with keeping store shelves stocked with essential consumer goods,” noted Mark Pryor, CEO of The Seam. “Technology drives efficiencies and fuels markets, and connecting suppliers with buyers is what we do best at The Seam. We are honored to collaborate with FMI to develop this real-time exchange that will digitize and interconnect a geographically dispersed supply chain.”