TraceGains, the world’s only networked ingredients marketplace, has announced Networked Intelligence, an end-to-end solution that automates the monitoring and status of ingredient supply chains for food and beverage CPGs.
According to a recent “State of Supply Chain Disruption” survey, ingredient shortages have forced 37% of top CPG brands to modify more than 20 recipes or product formulas over the last two years. As the pace of product formulation picks up speed, the time and diligence required to monitor impending shortages or safety recalls for each ingredient becomes exponentially more costly. Networked Intelligence automates the process, matching alerts directly to a company’s supply chain to eliminate time wasted on manual searches and overlooked warnings. Brands also simply alternate sourcing with confidence because new suppliers are matched as well.
Ingredients are the fundamental building blocks of the supply chain. The success of food manufacturers depends upon a steady supply of ingredients that facilitate uninterrupted production and ensure continuous fulfillment of customer demand. However, when even one ingredient is threatened, it can wreak havoc on a company’s supply chain. Networked Intelligence offers manufacturers and suppliers a complete, integrated solution that provides global visibility into ingredient-level risks that take days or weeks to manually track.
“Networked Intelligence helps CPGs manage the increasingly complex web of food and beverage formulations amidst constantly changing ingredient accessibility and status updates,” TraceGains Senior Director of Product Marketing Paul Bradley explained. “It’s a cross-functional solution that gives R&D instant access to the latest scientific data and Quality and Procurement real-time alerts about ingredients from the industry’s broadest array of data sources.”
Key benefits of Networked Intelligence
Networked Intelligence provides a start-to-finish supply chain management solution for CPG brands, including:
- Curated intelligence data – The TraceGains Global Horizon Scanning data add-on layers in data from thousands of authoritative sources around the world, while AI-driven matching technology maps ingredient and supplier data to each customer’s unique supply chain.
- Citations library – A citations library helps dietary supplements teams draft and maintain defensible label claims while identifying new opportunities—and threats—as they crop up, based on the latest research.
- Collaborative workspaces – Teams can work together seamlessly from the same data set, backed by fully automated alerts and notifications when critical intelligence becomes available.
- Proactive alerts – Suppliers also benefit from proactive alerts affecting the materials they handle, enabling proactive and timely collaboration with customers.
For more information on Networked Intelligence or to request a demo, visit tracegains.com.