316: Plug In and Go Faster, with TraceGains

Today I'm joined by TraceGains, the world's only networked ingredients marketplace. Founded in 2008, TraceGains connects people and information so teams can work smarter. As a global technology company, they provide networked innovation, quality, and compliance solutions to consumer brands that want to reduce supply chain risk, innovate faster, speed up business processes, and take control of data. Today Gary Nowacki, Founder and CEO at TraceGains, joins me to chat all about the company: what they do; achieving visibility and productivity through collaboration; overcoming today's supply chain challenges; and bringing people and ingredient data together in new ways to achieve business agility.   IN THIS EPISODE WE DISCUSS:   [06.31] Gary's background and how, and why, it led him to founding TraceGains. "When we founded TraceGains, I think we used the same trick that I would recommend for anybody founding a tech or software company: find a real pain, and then make sure it's not being serviced well." [08.37] A closer look at some of the biggest challenges in the food industry right now, why those challenges are forcing companies to re-evaluate their supply chains, and how TraceGains are helping their customers to conquer disruption. "The food industry, like almost all industries, really focused on cost… Now, everything is sky rocketed through inflation and new drivers have come along…" [13.36] An overview of TraceGains – what they do and how they help their customers. "This is an incredibly fragmented supply chain… it was using a hub and spoke methodology… and that's a really bad way to do things! … So we stole a page from the playbook of social media companies, and said: "Forget the hub and spoke. Let's just get all these companies to connect." [15.34] A deeper dive into TraceGains Gather, a marketplace that invites customers to "experience sourcing nirvana." [19.56] A closer look at TraceGains' configurable solutions for product development, which support customers in creating new formulas and finished goods. [24.02] TraceGains' compliance solutions, and the benefit of having a range of complimentary solutions all under one roof. [26.28] Why ingredient agility equals brand agility, and why mastering ingredient data is key to evolving your supply chain. [28.01] Collaboration, the importance of bringing buyers and sellers together with co-manufacturing, and an example of what can go wrong when good collaboration is lacking. "We have a new capability so buyers and sellers can collaborate, not just with the brand owners and ingredient sellers, but also with the co-manufacturers so all three can come together in a workspace – it's almost like Pinterest… because in this problematic issue of supply chain disruptions, we need collaboration more than ever!" [32.08] What onboarding and integration looks like with TraceGains. "There's a lot less integration that needs to be done, because people are just interacting and collaborating in the cloud." [34.06] The ideal client for TraceGains. [36.29] A case study showing how TraceGains helped a leading bakery make fast and responsive manufacturing decisions and ensure product continuity, by providing vital data insights on variable ingredients. [39.30] The future for TraceGains. "These problems exist in every country around the globe… so growing internationally is the next logical step." RESOURCES AND LINKS MENTIONED:   Head over to TraceGain's website now to find out more and discover how they could help you too. You can also connect with TraceGains and keep up to date with the latest over on LinkedIn, Facebook, Twitter, YouTube or Instagram, or you can connect with Gary on LinkedIn. If you enjoyed this episode and want to find out more about the food and beverage supply chain, why not check out episode 245, featuring Marina Mayer, editor-in-chief of Food Logistics and Supply & Demand Chain Executive. Then check out episode 257, a special episode of our live show Action Items with Dyci Sfregola, in which Dyci interviews Atia Yarbrough, Director of Demand and Supply Planning at Mason Dixie Foods, to discover more about building successful S&OP processes, finding the right partners, and the importance of dual sourcing. Check out our other podcasts HERE.