Supplier Compliance Critical for Nutraceutical Manufacturers According to TraceGains
Westminster, CO -- (SBWIRE) -- 12/31/2012 -- With TraceGains' Supplier Compliance and Supplier Impact online subscription services suppliers continue to submit their data in preferred formats, while nutraceutical manufacturers gain a standardized way to accept and analyze content. Receiving automatic alerts to problematic shipments before they reach the plant, allows firms to spot supplier quality trends that could later develop into problems.
Nutraceutical manufacturers face daily challenges to manage volumes of data and information—especially COAs—received in different formats from suppliers. This is particularly critical since the "Standardized Information on Dietary Supplement Ingredients" (SIDI) working group proposed 'Certificate of Analysis Guideline' has not yet taken full effect. TraceGains helps nutraceutical firms handle data with immediate benefits for manufacturing, quality, strategic sourcing initiatives, and corporate profitability.
With Supplier Compliance enhanced information management is possible between dietary ingredient manufacturers; with Supplier Impact nutraceutical manufacturers measure how individual suppliers affect key performance indicators (KPIs) such as finished goods profitability or customer satisfaction.
- Consistent information from multiple suppliers and across product lines
- Reduction/reallocation of costs/resources
- Rapid retrieval/interpretation of information
- Information is more accessible to the FDA
- Easier facilitation of mergers & acquisitions
TraceGains, based in Colorado, creates supplier documents; a management solution which prevents "bad stuff" (out of specification ingredients) from arriving in the first place. Assuring that the correct supplier documents and certifications are on file, (such as allergen statement, kosher, SQF, and BRC) is also important to verify that the finished good food product is compliant with business policies and customer requirements.
TraceGains, Inc. (http://www.tracegains.com), founded in 1998, is for quality, purchasing, product development, and other departments who are burdened with manually managing suppliers and documents. TraceGains delivers full service supplier, compliance, and regulatory document management solutions. Unlike manual, ERP, or traditional document systems, TraceGains extracts data from documents and automatically takes action.
TraceGains is proven to empower people to quickly solve problems, speed audits, and simplify continuous product improvement. From C-level executives to quality and strategic sourcing departments this supplier document management solution simultaneously reduces costs while improving quality – automatically. Food & beverage makers, restaurant chains, nutraceutical manufacturers, and any company challenged with raw material or ingredient variability can benefit from TraceGains’ supplier compliance and supplier impact solutions.
Companies 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.
Actionable intelligence is 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; purchasing and negotiating power with suppliers is increased. Follow TraceGains on Twitter @tracegains.
Marc Simony, Director of Marketing