New Supplier Documentation Solution Enables Emerging Brands to Meet Rising Demand for Functional Foods
WESTMINSTER, Colo., July 18, 2023 /PRNewswire/ -- TraceGains, the food and beverage industry's only networked ingredients marketplace, today announced the launch of Supplier Management Pro, the latest addition to its revolutionary TraceGains Gather platform. Geared towards emerging brands, growth-oriented startups, and industry innovators, Supplier Management Pro offers a simple yet versatile solution for centralizing and optimizing supplier documentation and data, and a no-cost entry point for brands that are ready to embrace a modern digital strategy.
Disruptive brands are leading the charge on a range of exciting categories in the food and beverage industry, such as functional foods. According to the Food and Agriculture Organization (FAO) of the United Nations, functional foods refer to "a foodstuff that provides a health benefit beyond basic nutrition, demonstrating specific health or medical benefits, including the prevention and treatment of disease." Ingredients are the lifeblood of this new class of food, with the market for functional ingredients expected to reach $109 billion by 2028. Supplier Management Pro is designed to meet the needs of innovators in this and other fast-growing segments.
In a quick-paced and competitive market, a digital solution for supplier and documentation management is no longer optional. With Supplier Management Pro, TraceGains has enabled free access to the industry-standard Supplier Management solution set for the first time. As brands grow, a usage-based pricing model ensures that companies can add the services they require, allowing teams to scale the solution seamlessly over time.
"As a food and beverage brand, we need technology solutions that drive compliance and facilitate risk mitigation in our supply chain, all while being cost-effective. It's a laundry list!" said Maria White, supplier quality manager of Hudsonville Creamery and Ice Cream. "Thankfully, TraceGains Gather has provided us with the meticulous data gathering and collaborative prowess we needed to completely transform our supplier management program. Because of TraceGains, we are now more compliant, more informed, and have better tools for tackling the supply chain challenges we face daily."
TraceGains' Supplier Management Pro solution allows growing brands to:
- Source and qualify ingredients and suppliers with integrated access to TraceGains Gather, the world's most powerful networked ingredients marketplace;
- Connect with suppliers, centralize supplier documents and easily manage document requests;
- Create and manage digital supplier records and easily keep track of items supplied;
- Manage items at the ingredient level of the supply chain, with detailed documentation and data;
- Map global intelligence data and alerts to unique supply chains, providing proactive and timely information on risks, regulatory developments and research.
Paul Bradley, TraceGains Senior Director of Product Marketing, emphasized the significance of Supplier Management Pro in light of prevailing market trends. "So much of energy in the industry right now is coming from small, determined, creative organizations, whether emerging startups or innovation teams within big brands. Our mission is to meet brands where they are and scale with them as they grow."
In keeping with their industry leadership position, TraceGains Gather, now with Supplier Management Pro, puts disruptive, innovative companies on pace to hurdle traditional growth barriers and transform the food and beverage supply chain. TraceGains invites growth-focused brands and disruptive teams to experience the transformative power of Supplier Management Pro.
TraceGains Gather is an innovative marketplace for information exchange that enables food and beverage brands to capitalize on speed and agility to remain competitive amid shifting market conditions and fluctuating supply. With the addition of Supplier Management Pro, brands now have an easier way to ensure compliance amid a rapidly changing marketplace.
To learn more about the benefits of this groundbreaking solution, visit www.tracegains.com.
About TraceGains
TraceGains, the world's only networked ingredients marketplace, connects the global consumer goods supply chain through its innovative TraceGains Gather platform. Enterprises and suppliers can easily collaborate to exchange critical information, data, and documents and work together to solve today's unprecedented supply chain challenges. Information about ingredients and supply chain partners applies to a company's unique supply chains using artificial intelligence and automation. Our patented PostOnce technology allows authorized stakeholders to share and receive vital information, precisely when, where, and how they need to operate efficiently and remain competitive. Through the power of a global network, supply chain agility is achievable. To learn more, visit www.tracegains.com.
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