argosrm due diligence assessments
TRANSCRIPT
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““Due Diligence is a moving target”Due Diligence is a moving target”Corporate AssessmentCorporate Assessment
Food Processors & HandlersFood Processors & Handlers
Date: July 09, 2009
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Due Diligence Challenges• How does your company keep ahead of
the due diligence curve?• Is your company strategically organized to
ensure due diligence?• Are the proper checks and balances in
place to demonstrate due diligence?• Do 3rd party audits provide you with
sufficient data to assess due diligence gaps?
Due Diligence
“Due diligence is the efforts made by an ordinarily prudent or reasonable party to avoid
harm to another party”
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• “Due diligence is a moving target”TM in food processing & handling as a a result of changes in regulations, best practices, technology and customers’ expectations
• Companies must adapt to increasingly more stringent government regulations & requirements
• Industry and competitors best practices cannot be ignored and must be factored into the due diligence equation
• Technological innovations allow for more robust testing for food borne pathogens
• Customers demand higher level of stringency for food safety programs
Due Diligence Ever-Changing Landscape
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• Identify those variables related to the demonstration of due diligence in food safety programs
• Establish a high level corporate cross-function team to review and monitor the ever-changing due diligence landscape (current state vs. future state)
• Ensure channels are in place for due diligence communication between corporate and operational entities (processing plants, suppliers, growers, distributors, restaurants)
• Conduct 3rd party Due Diligence Assessments (DDA)
• Review DDA findings and develop improvement plans to close food safety program gaps
Solution
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• Greater protection of brand integrity and equity
• Higher level of confidence in company’s food safety and quality programs
• Increase corporate transparency in overall food risk management
• Elevation in the level of preparedness for potential crises such as product recalls and foodborne illness outbreaks
• Reduction in liability claims• Decrease potential for regulatory
compliance issues• Ability to better gauge the effectiveness of
3rd party food safety audits • Develop an organizational culture of due
diligence accountability
Benefits
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For More Information
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