TraceGains Inc.

TraceGains Holistic Supplier Management Asks the Right Questions

 

Westminster, CO -- (SBWIRE) -- 10/26/2010 -- According to TraceGains’ CEO Gary Nowacki, “Companies need answers in real-time to critical questions.” Nowacki suggests some of the key questions that should be asked and answered in the Holistic Supplier Risk Management process:

- What is company risk TODAY and how is it changing?
- Which supplier is creating the most risk?
- What are the biggest problems facing the company TODAY?
- How does the risk from one supplier or group of suppliers compare with another supplier or group of suppliers?
- Is this supplier such a problem and how have they changed over time for their key problem area?
- What is the supplier’s risk trend for their key problem area?
- If there are multiple suppliers for the same ingredient, how do they compare and how are they trending?
- How are suppliers meeting their obligation to provide information (such as latest COI, audients, HACCP plans?)
- Are all suppliers participating in an automated COA program?

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.

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. According to Nowacki, “This system provides continuous response and optimization by ingredient, business rules, and suppliers. Updated requirements are constantly communicated with the systems and food companies can collaborate with and notify suppliers of new specifications.”

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