BOSTON--(BUSINESS WIRE)--Trace One, a global leader in private label product lifecycle management (PLM) solutions and transparency software for retailers, manufacturers and suppliers, today announced the results of its “Global Private Label Supply Chain Transparency” survey. The research finds that 83 percent of global private label supply chain executives say supply chain transparency impacts productivity and overall consumer confidence. However, it also found that 43 percent of organizations are still using offline methods, like Excel documents and the telephone, to communicate with supply chain partners.
Trace One conducted the proprietary research in October of 2014 by surveying executives of global companies that serve as private label retailers, manufacturers and suppliers in countries like the United States, United Kingdom, France, Germany, Spain, Italy and Canada. In addition to inquiring about communication and collaboration tools, the survey examined their supply chain transparency barriers, key management concerns and how greater stakeholder visibility improves business and product operations, as well as customer loyalty. Overall the respondents, representing Fortune 500 companies, confirm the value in collaboration and found a direct correlation between transparency, productivity and consumer spending.
“It’s clear that organizations continue to struggle to achieve real-time communication and access to their supply chain partners,” said Jerome Malavoy, founder and CEO of Trace One. “To succeed in the private label industry, organizations need to have full transparency through the use of online tools in order to have access to all partner documentation, sourcing information, audits and more so they can react to potential crises and ensure product quality and improve productivity.”
Key findings of the “Global Private Label Supply Chain Transparency” survey include:
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More than half of the respondents attribute transparency to improved
customer sales and loyalty with 83 percent saying transparency impacts
consumer confidence and buying behavior
- Overall, 81 percent said their organizations are more productive because of their ability to collaborate
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A majority of offline users reported a lack of communication as a top
collaboration challenge and 43 percent of respondents said their
organization uses offline tools, such as spreadsheets and the
telephone, as their primary form of communication
- Overall, 49 percent of respondents reported that their organization primarily uses basic online tools like Dropbox or Google Docs, and 8 percent primarily use online tools created specifically for the product lifecycle process
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The top three PLM development challenges listed were: a lack of
communication (47 percent), multiple technologies, tools and software
(44 percent), and speed to market (41 percent)
- Thirty-eight percent said they cannot identify or collaborate with their direct supplier network and about one in four rated their collaboration as “fair” or “poor”
- “Cost control” is a key business concern followed by reduced product risk/increased safety (50 percent) and regulation and compliance (45 percent)
For information about Trace One, visit www.traceone.com. To view or download the “Global Private Label Supply Chain Transparency” infographic, click here.
About Trace One
Trace One connects retailers, manufacturers and suppliers to accelerate product innovation while creating supply chain transparency. Our solution is a secure, collaborative, cloud-based technology platform that helps all tiers in the supply chain increase their communication speed, data accuracy, and visibility into their business. Trace One powers the world’s largest network for private label development with more than 20,000 companies in 110 countries developing over $300B in products annually. The company has offices in Boston, Chicago, Paris, London, Madrid, Hong Kong, Madrid, and Dusseldorf.
