Specright, Inc., the pioneer of Specification Management software, which enables companies to manage and share product and packaging specification data, announced that for the second straight year it has been selected as winner of the “Overall Supply Chain Solution of the Year” award in the 2022 AgTech Breakthrough Awards conducted by AgTech Breakthrough, a leading market intelligence organization that recognizes the top companies, technologies and products in the global agricultural and food technology markets today.
Specright enables companies to manage specification data, automate processes and collaborate with suppliers and co-manufacturers in one single source of truth for specification data. Brands are then able to spend less time on manual data entry and more time on things like product innovation, sustainability, and quality assurance. This can lead to more sustainable products on the market, waste reduction, and fewer mass recalls.
With a closed-loop quality process – from initiating a corrective action to verifying a change – Specright helps to reduce costs associated with defects, increase supplier compliance and reduce regulatory risks.
Additionally, with Specright, purchasing and procurement is simplified. Users simply select the specs needed to bid, select the desired suppliers as well as onboard new suppliers – all in one place. This helps to improve supplier – and product – data, reduce time to bid and increase cost savings. Other key features include mitigating issues and minimizing time out of market, and managing raw materials, ingredients, and formulas.
Meanwhile, Specright, also allows users to reduce incidents related to mislabeling, increase speed to new market entry and increase traceability. Lastly, users are able to instantly report on packaging materials across a business – reducing the number of packaging SKUs, decreasing misprints and accelerating packing.
“It’s an honor to once again win this award from AgTech Breakthrough. We want to offer companies a standardized, single source of truth for their foundational data which, in turn, offers them major time savings and streamlined processes from supplier onboarding to inspection reporting,” said Specright Founder & CEO Matthew Wright. “At Specright, the food and agricultural industries are a top priority. With regulations such as FSMA pushing traceability and EPR pushing sustainability, it’s our goal to help companies manage these larger outcomes with their specification data, so they can break through the noise and focus on making amazing things.”
The mission of the annual AgTech Breakthrough Awards program is to conduct the industry’s most comprehensive analysis and evaluation of agricultural and food technology categories, including Internet-of-Things (IoT) and Artificial Intelligence (AI) based agricultural technologies, farm management, indoor farming, food quality, data analytics and many more. This year’s program attracted more than 1,600 nominations from over 15 different countries throughout the world.
“Specifications in the food and agricultural market change rapidly as a result of evolving regulations, higher SKU counts to meet consumer needs, and the desire to be sustainable. It also means the standards that food and agricultural professionals must reference during verification and product sampling are often quickly out of date. The impact of referencing an outdated specification can put you, your customers, and your business at risk,” said Bryan Vaughn, Managing Director, AgTech Breakthrough. “Even with supply chain disruptions and inventory shortages, Specright allows for quick and efficient onboarding of new suppliers as needed as well as an entire streamlined process to manage Supply Chain. Congratulations, for the second year in a row, on being our choice for ‘Overall Supply Chain Solution of the Year.’”
Specright is the first patented, cloud-based platform for Specification Management. Whether it’s packaging, raw materials, formulas, products, or machines, Specright helps companies manage data to increase speed to market, reduce costs, and better collaborate with suppliers and partners across their supply chain. For more information, visit: http://www.specright.com
About AgTech Breakthrough
Part of Tech Breakthrough, a leading market intelligence and recognition platform for global technology innovation and leadership, the AgTech Breakthrough Awards program is devoted to honoring excellence in agricultural & food technologies, services, companies and products around the world. The AgTech Breakthrough Awards program provides a forum for public recognition around the achievements of AgTech companies and solutions in categories including farm management, indoor farming, FoodTech, automation, IoT and robotics, FoodTech, analytics and more. For more information visit AgTechBreakthrough.com.