TraceGains Automated Supplier Tracking Measures Impact of Each Supplier
Westminster, CO -- (SBWIRE) -- 01/09/2013 -- All food and beverage manufacturers are you interested in reducing cost of goods manufactured (COGM) by 1-4%. Similarly lowering the cost of poor quality (COPQ) has a direct bottom-line impact. With Supplier Impact, by TraceGains, clients connect product outcomes back to individual supplier's raw materials, and receipts. Knowing how an individual ingredient lot impacts yield, manufacturing set-up, on-the-fly reformulations, and other cost drivers gives important insight into raw material selection, purchasing preferences, and long-term vendor relationships.
Automatic Warning: Spot Risky Suppliers Early
Supplier Impact gives companies the power to continuously track each supplier's trend over time, so that each can be evaluated. Food companies, including restaurants, can determine 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, and many other factors that existing systems simply cannot track. The early warning system catches problems before customers report them.
About TraceGains, Inc.
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.
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 at @tracegains.
Marc Simony, Director of Marketing