HIGH FALLS, N.Y., Feb. 24, 2022 (GLOBE NEWSWIRE) -- HowGood, a SaaS data platform with the world's largest product sustainability database, today announced the expansion of their sustainability intelligence software–Latis–to include a procurement module. Now available as a stand-alone product for global food brands, the Procurement Module is designed for food CPG sourcing and sustainability teams to be able to assess the overall impact of their current sourcing portfolio, compare any ingredient supplier against the same set of holistic sustainability criteria, and discover new suppliers offering more sustainable options.
Currently, there is no product on the market that can support procurement teams in researching ingredient sustainability specs and identifying new, more sustainable suppliers at the scale that Latis delivers. In a time of increased consumer demand for sustainability and transparency, and a rapidly growing number of corporate promises to reduce carbon emissions, eliminate labor risk, and improve global biodiversity, procurement teams are struggling to balance public sustainability commitments with business operatives to cut spending and simplify supply chains. The Latis Procurement Module initiates the sourcing research process in a way that is simple, fast, and effective, allowing buyers to analyze any supplier’s ESG metric performance alongside price and material specifications, as well as predict and strategize on the sustainability implications of any sourcing change in their portfolios.
“Our goal with the Procurement Module is to help food brands evaluate the sustainability of their products on a foundational level by providing instant insights on where and how to improve their sourcing portfolio – and then giving them the tools to go do it,” said Ethan Soloviev, Chief Innovation Officer at HowGood. “As the food industry grapples with calls to improve transparency and reduce its footprint, the Procurement Module boosts the efficacy of procurement teams by providing an easy-to-use platform for buyers to identify the ingredients most negatively impacting their portfolios, discover and compare new suppliers offering more sustainably sourced ingredients, and demonstrate the impact of any supplier change through an advanced scenario-planning interface. This not only saves procurement teams a ton of time on research and vetting but ensures they’re building their sourcing portfolio with suppliers that meet their company’s sustainability goals, budget, and QA requirements.”
The Latis Procurement Module offers the same set of comprehensive, ingredient-level impact insights as the original Latis module being used by R&D teams at Danone, Applegate, and other global CPGs, including metrics like greenhouse gas emissions, water usage, biodiversity impact, labor risk, and animal welfare, among others. By fostering connectivity between teams and throughout organizations, this comprehensive solution provides brands with a shared language around sustainability goals and performance in a way that has never been possible.
“HowGood’s Latis platform is helping us rapidly visualize the social and environmental impact of our products down to an ingredient level,” said Gemma Brierley, Global Director of Sustainable Sourcing and Human Rights at Danone. “We’re very excited about the launch of the Procurement Module, which will deepen our understanding of the impact of each ingredient used in our products and help us identify suppliers whose sourcing practices align with our sustainability goals.”
For food brands interested in learning more about sustainable procurement and how the Latis Procurement Module can help achieve ESG commitments, HowGood is hosting an innovation series on shaping a regenerative procurement strategy. The series will feature procurement professionals from across the food industry discussing how moving toward regenerative procurement strategies can help overcome challenges of scale, price, and supply system resiliency. To sign up, visit: howgood.com/innovation-series.
To learn more about HowGood, please visit: https://howgood.com/
About HowGood
HowGood is a SaaS data platform with the world’s largest database on food and personal care product sustainability. With more than 33,000 ingredients, chemicals and materials assessed, HowGood helps leading brands, retailers and restaurants improve their environmental and social impact. Through in-depth, ingredient-level insights into factors like greenhouse gas emissions, biodiversity, labor risk, animal welfare, and other key impacts, HowGood’s data power strategic decision-making for the sourcing, manufacturing, merchandising, and marketing of sustainable products.
