Vitamin and Supplement Industry: Overcoming Obstacles in the Business Operation
Vitamin supplements are dietary products that supplement the normal diet. These supplements are available in various forms, such as tablets, powders, and gummies. Managing the delivery of temperature-sensitive goods and abiding by stringent standards present special problems for supply chain managers in the vitamin and supplement industry. Before new laws were implemented because of increased limits on mobility brought about by the COVID-19 pandemic, it was already a game of margins to preserve the integrity of the goods and the brand—the processes used in the supply chain for vitamins and supplements needed to be strengthened. A delay in production resulted from different companies having to work under stringent safety regulations simultaneously as the demand for health goods increased.
The dietary supplement industry has created jobs and contributed to the economy for decades. Its employees provide many dollars for state and local taxes that support schools, police departments, roads, etc. In addition, the dietary supplement industry is responsible for generating more than $5 billion in federal taxes annually. Despite these benefits, a few concerns remain on the west coast regarding the nutraceutical industry’s ability to regulate itself adequately. During the COVID-19 pandemic, consumers turned to supplements to obtain additional protection from infection and disease by maintaining or improving their immune systems. Sometimes, these consumers receive misleading information from companies claiming the products’ anti-viral properties. In such cases, regulatory authorities must step up oversight to prevent consumer exploitation. It’s time to start designing your product aligned with the standards and get to know your target customers. You can collaborate with private-label companies to produce west coast supplements.
A business must deal with uncertainty and overcome challenges in operating their businesses. They need to understand the different levels of delay to make the best decisions for their companies. Moreover, they must know how to leverage their resources and capabilities to overcome these challenges. One of the biggest uncertainties is the changing tax and regulatory reform pattern. This uncertainty directly impacts businesses’ operating environment and ability to achieve sustainable profits. Therefore, companies must adopt new management models to manage this uncertainty. There are four levels of uncertainty for businesses. The lowest level is where a company can predict future outcomes accurately. The next level is where a business can’t expect any work but can only assign probabilities. Finally, the highest level of uncertainty is where a company can’t even determine whether a product will thrive in its market.
Dietary supplement manufacturers must comply with the extensive United States, EU and Canada regulations. These regulations cover manufacturing, labeling and quality control. They also require GMP compliance and detailed requirements for marketing claims. Despite these regulations, the industry still faces many regulatory challenges. For example, a vitamin manufacturer may claim in an advertisement that the supplement will eliminate a certain mineral deficiency that causes fatigue. Still, the evidence used to support this claim needs to be revised and include human research. Currently, the FDA and Federal Trade Commission (FTC) share responsibility for reviewing and enforcing claims in dietary supplements. However, the agencies have different policies for substantiating health claims. For example, the FTC has less rigorous standards for establishing that a product will alleviate a condition than the FDA. The discrepancy allows supplement companies to exploit consumers with false and misleading health claims.