TraceLink Announces the Healthcare and Life Sciences Industry's First Multienterprise Supply Chain Work Management Solution
Built on Opus™, the Operating Platform for Industry 4.0
BOSTON, April 5, 2022 /PRNewswire/ — TraceLink Inc, the leading digital network platform company, announced the launch of the first ever multienterprise Supply Chain Work Management solution on the Opus Digital Network Platform. The TraceLink Supply Chain Work Management solution enables companies to build collaborative networks across their trading partners to enhance the performance of their integrated supply planning and execution processes through better management of supply chain issues and planning exceptions like material shortages, short shipments, and forecast changes.
TraceLink Supply Chain Work Management digitalizes supply chain business processes and enables structured cross-functional and cross-company execution with trading partners. Developed and hosted on TraceLink’s Opus Platform, Supply Chain Work Management gives customers the ability to leverage digital networks with partners to exchange business process information through secure, configurable links, and connect to enterprise systems to accelerate cross-company sharing of interoperable supply chain data.
Supply Chain Work Management enables executives to gain actionable visibility through dashboards and shared workflows that span across their own organization and their supply chain partners. Supply Chain Work Management may include one or more of the following pre-configured, but customizable, business process templates, known in the product as Processes: Direct Supplier Incidents, Indirect Supplier Incidents, External Manufacturing Incidents, Internal Manufacturing, Incidents, Change Requests, and Supply Chain Task Management.
Through the creation of virtual process teams, and the application of work management capabilities across functions and companies, customers are able to dramatically improve the effectiveness of their supply planning and execution processes.
Improve Fill Rates and On-Time, In-Full Service Delivery Levels: Supply Chain Work Management customers can respond faster to planning exceptions through integrations with leading planning systems and with more efficient processes powered by workflow-driven notifications, reminders, due dates, tasks, and alerts. Customers can also leverage the data captured in the Supply Chain Work Management solution to reduce recurring issues through continuous process improvement. Issue resolution can be reduced by up to 65%, recurring issues reduced by up to 50%, and delivery performance can be improved by up to 82%.
Reduce Cost of Goods Sold: Customers can reduce the cost of expedited orders and production line disruptions by improving supplier quality and reducing supply chain issues. The number of issues can be reduced by up to 35%, manufacturing disruptions can be reduced by up to 97%, and defects per million can be reduced by up to 96%.
Improve Supply Plan Performance: Executives get real-time visibility into the prioritized exceptions that affect plan performance, ensuring the right resources are assigned to critical issues, the status of issues are monitored as they are resolved, and team performance is measured both inside and outside the organization. Cross-functional and cross-company teams get a collaborative workspace to resolve issues, share documents, and manage projects. And all employees and supply chain partners can report issues immediately, and enter issues into a purpose-built system ensuring that impact data and issue details are captured and a consistent process is followed.
“For many companies, Supply Chain Work Management is the first step in the journey to Industry 4.0 transformation,” said Shabbir Dahod, President and CEO of TraceLink. “Supply Chain Work Management networks people, processes and data to improve integrated supply planning and execution. Combining work management tools with the digital network building capabilities of the Opus platform transforms work between supply chain partners. Our Supply Chain Work Management solution built on the Opus platform gives companies the agility and resilience they need to thrive in today’s world of increasing demand fluctuations and unpredictable supply.”
About TraceLink
TraceLink is the only business network creation platform for building integrated business ecosystems with multienterprise applications. Business networks are the foundation of an Industry 4.0 digitalization strategy that delivers customer-centric agility and resiliency of the end-to-end supply network leveraging the collective intelligence of an industry. The TraceLink Opus Digital Network Platform enables speed of open innovation and implementation with a partner ecosystem for no-code and low-code development of solutions and applications. For more information on TraceLink and our solutions, visit www.tracelink.com.
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