Companies can quickly identify how individual suppliers and raw materials affect product outcomes such as customer satisfaction, profitability, yield, and quality. Suppliers are continuously evaluated and rank-ordered on new business-critical KPIs, which go way beyond the traditional measures of cost and on-time delivery. This actionable intelligence can then be quickly leveraged for supply chain and ingredient optimization. By automatically reducing ingredient variability, finished goods are more easily and cost-effectively produced, while the cost of poor quality is significantly reduced. Charge-backs and stock-outs are kept to a minimum, while purchasing and negotiating power with suppliers is increased.
By achieving 100% actionable visibility on all incoming COAs, often before product receipt, companies can move to exception-based management, allowing staff to focus on higher-value tasks such as advanced quality control, strategic sourcing, proactive supplier management, and better customer service.
Supplier documentation storage, whether in file cabinets or in digital formats, may satisfy regulatory retention requirements, but does little to systematically unlock the wealth of business, compliance, and regulatory information they contain and you require on a daily basis to operate successfully.
By automatically analyzing and scorecarding supplier-provided documentation as it is received—such as certificates of analysis, qualification questionnaires, audit documents and their results, certifications (Kosher, Organic, etc.), insurance certificates, allergen questionnaires, and other import requirements (COOL, C-TPAT, FSMA, GFSI), among others—TraceGains helps food and nutraceutical manufacturers and ingredient processors automate document management, meet regulatory and industry compliance requirements, identify best and worst suppliers, source better with less risk, automatically raise product quality, and painlessly perform or participate in audits, all without needing to involve the IT department to help with complex technology.
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Marc Simony, Director of Marketing