Westminster, CO -- (ReleaseWire) -- 04/03/2014 -- Supplier scorecarding is a lean manufacuring best-practice. TraceGains, full-service supplier, compliance, and regulatory document management solution, automates scorecarding to help food manufacturers and suppliers examine data and results based on the same information. This process fosters closer collaboration, information exchange, review of standard, and best-practices, as well as the occasional review of ingredient specifications, so that all stakeholders involved can work toward the same goals.
Global Food Safety Initiative (GFSI) compliance schemes have scorecarding as part of their processes as well. To-date, suppliers are scored mostly on two metrics: cost and on-time delivery. While both factor in to profitability and operational efficiency, they do little to manage product quality, ingredient and supply chain risk, or consumer concerns.
When all supplier data are continuously analyzed they can be leveraged into performance metrics relating to supplier compliance activities, and item/ingredient performance that affect your risk, quality, and customer satisfaction.
TraceGains helps food manufacturers analyze and rank suppliers based on regular activities, long-term trends, specifications compliance, including the individual attribute level, and empowers companies to communicate this information back upstream whenever necessary, or on a predetermined schedule.
TraceGains (http://www.tracegains.com) provides food and beverage manufacturers and distributors with a web-based, full-service supplier, compliance, and regulatory document management solution that automates and streamlines processes to convert static documents into actionable data. With a network of more than 5,000 supplier members and more than 250 deployment sites, TraceGains offers an ever-expanding database of suppliers, purchased items, and documents that companies can leverage to improve product quality, accelerate product development, and meet regulatory and audit pressures. TraceGains not only digitizes all incoming documents, making them easily searchable, but also extracts critical data and analyzes them against customer-specific business and compliance rules, alerting stakeholders to any non-compliance. TraceGains’ automated solution assures companies that documentation is up to date, organized, and searchable, making companies 365 Audit Ready. TraceGains’ customers boast a four to six month return on their investment. Recently, TraceGains was listed as one of Food Logistics Top 100 software and technology providers. TraceGains is exhibiting at the Food Safety Summit April 8-10 at the Baltimore Convention Center, Booth #623. Follow TraceGains on Twitter at @tracegains.