TraceGains, the world’s only networked ingredient sourcing platform, announced the continued momentum and adoption of its Networked Ingredients Marketplace Sourcing solution.
As global supply chain issues grow increasingly more challenging, Bimbo QSR, a member of the Grupo Bimbo family of baked goods companies, selected the Networked Ingredients Marketplace as its system of choice to automate supply chain operations. The Networked Ingredients Marketplace is a holistic networked platform that enables global ingredients suppliers, CPG brands, co-manufacturers, and packing companies to collaborate on a safer, stronger, and more resilient supply chain network.
Supply chain issues have multiplied due to the COVID-19 pandemic and geopolitical conflict in Eastern Europe, crippling inventory, inflating costs, and hampering new product development for CPG brands. Data from the U.S. Bureau of Labor Statistics found that food prices were up nearly 11% year over year in April 2022, the most significant 12-month increase in consumer food prices in more than 40 years. Ingredient shortages, from sunflower oil to wheat, to stevia, continue to push brands toward alternative sourcing and reformulation to keep up with consumer demand. According to Bain & Co.’s research, brands investing in supply chain resilience can expect a 15% to 25% increase in output and a 30% boost in customer satisfaction.
“We do business in multiple markets worldwide and go to market with nearly 150 new business concepts every year. As a result, it’s a highly complex business system,” Bimbo QSR Vice President Global Quality Mike Labosky explained. “Given the upheaval in the supply chain over the last two years, it became abundantly clear we needed a partner who would enable us to conduct business better, make products faster, and stay in compliance. TraceGains is the industry standard for supply chain management, and we look forward to a long and fruitful partnership together.”
Bimbo QSR, which operates dozens of bakery sites worldwide, chose TraceGains’ Networked Ingredients Marketplace to enable better collaboration with its suppliers on ingredient data, so teams can move quickly on product development and solve supply chain problems together.
“Ingredients are the basic materials of the supply chain. However, the ability for businesses to connect seamlessly with partners through a networked ingredients marketplace is essential for solving today’s unprecedented supply chain challenges,” TraceGains CEO Gary Nowacki said. “Through our Networked Ingredients Marketplace, we want to simplify the supply chain and facilitate market success for our customers. We’re proud to count a name like Bimbo QSR among our ever-growing brand network.”
Over the last 15 years, TraceGains has designed its solution to be the one source of truth that enables global brands to gain speed and control over compliance and product development. Today, brands collaborate on 425,000 ingredients from more than 55,000 supply chain locations, creating greater agility, resilience, and sustainability that masters the modern supply chain.
About TraceGains
TraceGains is revolutionizing CPG supply chain agility through an innovative Networked Ingredient Marketplace. The ability for businesses to seamlessly connect with partners through a networked marketplace is essential for collaborating to solve today’s unprecedented supply chain challenges. Information about ingredients and supply chain partners flows instantly using 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.
About Bimbo QSR
Bimbo QSR is an industry leader in high-speed, customized baking. We are proud to be a part of Grupo Bimbo, the largest baking company in the World. Since our humble beginnings in 1955, we’ve been committed to supplying only the highest quality sandwich buns and rolls to the Foodservice Industry. We believe in creating and maintaining a total commitment to our customers on every level. We leverage the strength of our Global Bakery System to serve our local customers and communities with excellence. At Bimbo QSR, we have an unwavering commitment to excellence and a collaborative customer partnering philosophy. We proudly supply restaurant chains around with world with high-quality buns and artisan rolls from our 49 high-speed bakeries in more than 23 countries.
For more about Bimbo Bakeries USA, see "Bimbo Bakehouse brings comprehensive solutions to foodservice and the in-store bakery" on the SF&WB website, or "Nourishing the World," the cover story for the April 2021 issue of the SF&WB eMagazine.
