Formula to find/replace if same data is contained in another cel

Registration date
Tuesday March 24, 2015
Last seen
March 26, 2015
I have a large excel spreadsheet and need a formula that can extract data from one cell if that same data is found in another cell. So, for example:

Color Fabric ID
Navy Navy Front to Back Tank
Optic White Optic White Birdseye Blouse

I want to remove the color from the Fabric ID column. So, if the color used in Fabric ID column is found in the color column, it needs to be removed from Fabric ID column. Does that make sense? Any help?