%20is%20to%20protect%20the%20brand%20of%20food%20and%20beverage%20clients%20by%20eliminating%20problems%20before%20product%20is%20shipped%20to%20the%20customer.%20This%20mission%20is%20in%20now%20way%20mutually%20exclusive%20from%20identifying%20new%20profit%20opportunities.%20TraceGains,%20Inc.%20is%20the%20SaaS%20(software%20as%20a%20service)%20leader%20in%20helping%20companies%20reduce%20costs%20and%20improve...){kind=link}
TraceGains Urges Automatic Warning to Spot Risky Suppliers Early with Supplier Impact
The mission at TraceGains (www.TraceGains.com) is to protect the brand of food and
beverage clients by eliminating problems before product is shipped to the customer. This mission is in now way mutually exclusive from identifying new profit opportunities. TraceGains, Inc. is the SaaS (software as a service) leader in helping companies reduce costs and improve product quality-automatically. Food & Beverage, Quick Service Restaurant Chains, Life Sciences, Chemicals, and related industries can leverage the Supplier Compliance and Supplier Impact applications to eliminate manual certificate of analysis (CoA) review, automatically reject shipments that are not compliant with critical business rules, and rank-order suppliers based on yield, quality, finished-good profitability, customer feedback, or any other downstream outcome. The company is headquartered near Denver, CO, USA, with direct and partner offices throughout North America, Europe, Latin America, and Asia.Supplier Impact allows companies to rank suppliers like never before. According to TraceGains' CEO Gary Nowacki, "Companies need an automatic warning method to spot risky suppliers early. Supplier Impact gives companies the power to continuously track each supplier's trend over time, so that firms can evaluate which suppliers are beginning to make quality improvements, and which suppliers are continuing to slip. The system's Supplier Risk Indicator constantly scorecards each supplier on numerous critical risk factors, including in-spec trends, audit scores, variations to spot lab tests internally or third parties, and many other factors that existing systems simply cannot track. The early warning system catches problems before customers report them and clients pay for them."
Supplier Impact rewrites the rules for evaluating your vendor relationships by alerting you which suppliers are improving your business, and which are pulling you down. For the first time, good and bad product outcomese.g., yield, waste, shelf life, or customer satisfactioncan be connected back to individual raw materials and their suppliers. This changes everything, as you rank-order your suppliers on business-critical KPIs, not just price or on-time delivery.
Measure the Impact Each Supplier Makes on a Business
All companies are interested in reducing cost of goods manufactured (COGM) by 1-4%. All companies want to lower the cost of poor quality (COPQ). With Supplier Impact TraceGains' allows clients to connect product outcomes back to individual suppliers raw materials, and receipts. Knowing how an individual ingredient lot impacts yield, manufacturing set-up, on-the-fly reformulations, and other cost drivers provides important insight into raw material selection, purchasing preferences, and long-term vendor relationships.
The Next Big Win-Win: Continuous Feedback to Suppliers
Rejects and charge-backs due to out-of-compliance raw materials are a Lose-Lose for both clients and suppliers. In the short-term suppliers are burdened with the cost of rejects, but at contract renewal the cost may be passed back to the client. Material shortages cost in both the short- and long-term.
By selectively sharing with suppliers their rankings on performance to specifications against their anonymous peers, companies expand the dialog beyond price and delivery. Supplier Impact lets suppliers know how they rank and trend against their own claims as well as against their competition, without revealing other purchasing relationships.
Turn the Dust in the COA File Cabinets into Gold
Whether supplier COAs are received as electronic files (Excel, PDF, Word, etc.) or on paper, firms end up storing them versus leveraging them for continuous business improvement. Supplier Impact turns static COAs into actionable intelligence for continuous business improvement. The fog begins to lift for both clients and suppliers as patterns begin to emerge. Impact on quality, cost, customer, and consumer satisfaction are all tied back to suppliers, raw materials, and even specific lots.
TraceGains Inc.
www.tracegains.com
Marc Simony
Director of Marketing
mms@tracegains.com
303-682-9898
TraceGains Urges Automatic Warning to Spot Risky Suppliers Early with Supplier Impact
By: Thomas Cutler