Westminster, CO -- (SBWIRE) -- 10/14/2010 -- TraceGains is a complete compliance and risk management solution that automates data from paper or electronic filing cabinets and makes it actionable. Unlike ERP, home-grown, or manual systems, TraceGains continuously controls, illuminates, and predicts risk for each ingredient shipment and supplier certification.
According to TraceGains’ CEO Gary Nowacki, “There are ways to reduce supplier ingredient or raw material risks. The trouble with these risks is that there is no early warning. Risk is usually due to latency, volume, shortage of eyeballs. There is a growing need to reduce risk of non-compliant materials and unauthorized sources. Human check is fallible and food companies need to do more with the same number for FTEs.”
Nowacki also noted, “There are very high costs associated with material shortages, stock-outs, and processing returns for non-compliant materials. In most food companies the IT department is already over-burdened and backlogged.”
Holistic Supplier Risk Management is part of continuous improvement. It allows for synchronization with suppliers and ensures reduced risk and increased profits. Supplier data is mapped and sent, which the supplier then acknowledges requirements and sends data. There is then an automatic firewall and supplier eNotification, all driven by business rules. This is followed by portal feedback to the supplier, where the supplier receives instant notification of any issues.
With TraceGains’ Holistic Supplier Risk Management the system monitors time-triggered events, thus creating supplier management. Supplier Management provides feedback to the supplier…they see status and benchmark reports. These data allow for automatic predictive risk profiling by supplier and attributes.
The mission at TraceGains (http://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.
TraceGains Inc.
http://www.tracegains.com
Marc Simony
Director of Marketing
mms@tracegains.com
303-682-9898