ReposiTrak Signs Agreement to Pilot Track & Trace in Pharma Channel
By Business Wire News
By Business Wire News
SALT LAKE CITY
Park City Group’s ReposiTrak®, the leading provider of Compliance Management and Track & Trace solutions for food, pharma and dietary supplement safety, has signed an agreement with one of the largest research-based bio-pharmaceutical manufacturers in the world to pilot ReposiTrak’s Track & Trace solution. ReposiTrak will provide the manufacturer with visibility to product movement through the supply chain and guard against the entry of counterfeit drugs, which are responsible for 100,000 deaths annually worldwide.
Utilizing ReposiTrak’s Track & Trace system, the bio-pharmaceutical manufacturer will track the end-to-end movement of their items at the lot level, despite changes in ownership or ingredient transformation, which is a requirement of the Drug Quality and Security Act. As such, all trading partners will receive alerts to any unauthorized movement or location to ensure product authenticity and eliminate the entry of counterfeits. Once the efficacy of ReposiTrak’s Track & Trace system has been proven, the manufacturer plans to leverage the technology’s scalability and launch a full rollout.
“ReposiTrak is a total risk management platform developed to reduce risk in the food, pharma, and supplements channels with both a compliance management and track & trace solution,” said Randall K. Fields, CEO of Park City Group. “We are excited to begin working in the pharmaceutical channel to provide the same level of brand protection that we provide to retailers, wholesalers and food manufacturers looking to comply with the Food Safety Modernization Act.”
ReposiTrak, a wholly owned subsidiary of Park City Group (NASDAQ:PCYG) helps manage regulatory, financial and brand risk associated with issues of safety in the global food, pharma and dietary supply chains. The platform consists of two systems: Compliance Management, which not only receives, stores and shares documentation, but also manages compliance through dashboards and alerts for missing or expired documents; and Track & Trace, which quickly identifies product ingredients and their supply chain path in the unfortunate event of a product recall. It can reduce the risk in the supply chain by identifying backward chaining sources and forward chaining recipients of products in near real time.
ReposiTrak® provides food retailers and suppliers with a robust solution to help them protect their brands and remain in compliance with the rapidly evolving regulations in the Food Safety Modernization Act. Additionally, ReposiTrak enables traceability as products and their ingredients move between trading partners. ReposiTrak is a wholly-owned subsidiary of Park City Group (NASDAQ:PCYG) and was co-founded with Leavitt Partners. Park City Group is a cloud-based provider that brings unique visibility to the consumer goods supply chain, and powers the ReposiTrak solution. More information is available at www.repositrak.com.
Ronald Margulis, +1 908-272-3930