The company procures principal raw materials such as food ingredients, vitamins, minerals, herbs, gelatin, labels, and bottles. It typically maintains two to three suppliers for many raw materials to ensure supply adequacy. In fiscal 2023, one major raw material supplier accounted for 22% of raw material purchases. The company states it can develop alternative sources if current suppliers become inadequate and does not anticipate that the loss of any single supplier would materially affect its financial condition or operations. Raw materials are quarantined and undergo quality evaluation before processing, and finished products are tested prior to packaging. Inventory control systems monitor materials from supply through shipment, and flexible manufacturing enables responsiveness to customer demands.
Smart For Life Inc's Comment on Supply Chain
The company procures principal raw materials such as food ingredients, vitamins, minerals, herbs, gelatin, labels, and bottles. It typically maintains two to three suppliers for many raw materials to ensure supply adequacy. In fiscal 2023, one major raw material supplier accounted for 22% of raw material purchases. The company states it can develop alternative sources if current suppliers become inadequate and does not anticipate that the loss of any single supplier would materially affect its financial condition or operations. Raw materials are quarantined and undergo quality evaluation before processing, and finished products are tested prior to packaging. Inventory control systems monitor materials from supply through shipment, and flexible manufacturing enables responsiveness to customer demands.
Sources:
Smart For Life Inc's official press releases and regulatory filings; CSIMarket.com's supply-chain research; and the financial filings and press releases of other companies cited in this report.
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