The market is constantly changing in the CPG business — from what consumers buy to how they buy it. Getting new products to market faster demands more efficiency and speed at every stage of the new product development process. Supply chain quality assurance, ingredient identification, specification creation, and R&D acceleration require seamless collaboration between suppliers and buyers.
TraceGains helps eliminate external and internal information silos, replacing them with a single collaborative platform that connects teams, streamlines workflows, standardizes forms, and digitizes document collection and storage to allow businesses to scale without adding extra resources.
With a single location for all supply chain information and documentation, teams can bring new products to market faster. R&D teams can quickly research suppliers and ingredients. The regulatory department can address claims, label issues, or any other compliance requirements upfront, eliminating downstream delays. Quality can pre-approve ingredients and suppliers while managing the process through approval, and procurement can negotiate price and shipping with suppliers and even recommend alternate suppliers if needed. Finally, suppliers can make sure they get compliant ingredients into the supply chain with all required documentation.
“TraceGains excites me because our prime suppliers are there. I can say ‘Hey R&D, if you want to shop for an ingredient, here’s your catalog.’” – Andi Gillett, Purchasing Manager, Kanpak Inc.