THE POWER OF DIGITAL SUPPLIER MANAGEMENT
Finlays’ use of digital supplier management system TraceGains to drive compliance, risk management and efficiency through the supply chain.
Words: Roberto Sabater
EFFECTIVE SUPPLIER MANAGEMENT HAS NEVER BEEN MORE IMPORTANT TO FINLAYS AND OUR CUSTOMERS. IT’S CRITICAL TO ENSURING THAT WE MAINTAIN HIGH LEVELS OF QUALITY, SAFETY AND COMPLIANCE IN SUPPLY CHAINS, WHILE MANAGING RISK AND CONTINGENCY.
So we’re pleased to announce that, as part of our digital transformation, we have implemented TraceGains, a comprehensive supplier management programme, which helps us maintain regulatory and sustainability compliance and ensure the safety and quality of our products.
TraceGains is a cloud-based software platform that offers a network to exchange data, providing a centralised hub for suppliers to manage their documents, certifications and product information. Through the TraceGains network, suppliers can easily share documentation with their customers and receive feedback on their products.
EFFECTIVE SUPPLIER MANAGEMENT HAS NEVER BEEN MORE IMPORTANT TO FINLAYS AND OUR CUSTOMERS
Here are some of the significant key benefits to us, our suppliers, and our customers:
Streamlined compliance with food safety regulations. With the FSMA and GFSI mandates, there is an increasing emphasis on traceability and accountability throughout the food supply chain.
Improved supplier performance. By implementing digital supplier management systems, Finlays has better visibility into supplier performance, including quality metrics, as well as compliance with regulatory, ethical and sustainability standards. This information helps us identify areas for improvement and work with suppliers to enhance their performance.
Increased efficiency. By automating many of the manual processes involved in supplier management, we can reduce time and resources, driving efficiency.
Enhanced collaboration. Digital supplier management systems facilitate better collaboration between Finlays and its suppliers. Real-time communication and data sharing improves transparency and reduces the likelihood of miscommunication.
Better risk management. With a digital supplier management system, we can track and manage supplier risk, such as compliance with regulations, ethical standards and supply chain disruptions. This helps avoid problems and protects customer integrity.
Improved data analysis and decision-making. By leveraging data analytics, we gain valuable insights into supplier performance and identify improvement opportunities. This helps make data-driven decisions and optimise supplier relationships.
So far, TraceGains has been a invaluable addition to our supplier management programme. Its ability to ensure compliance with industry regulations, improve efficiency and provide real-time insights into supplier performance will help us maintain the quality and safety of our products, enhancing our overall supply chain management. As we continue our digital transformation efforts, we look forward to leveraging the full range of capabilities that TraceGains offers to drive further improvements in supplier management process, ultimately benefiting our customers.
Roberto Sabater is Finlays Group Quality Assurance Manager
