iTradeNetwork, the industry’s largest perishables network with over 8,000 food and beverage trading partners, proudly announces the launch of its Network-as-a-Service (NaaS), a new way for companies to collaborate, transact and drive more profitable supply chains.
Network-as-a-Service quickly establishes trading connections between any two companies in the food and beverage industry to meet the evolving and timely demands of today’s environment. In the last two months, more than 60 new enterprises—including industry giants Trader Joe’s, Aldi and MBM/McLane—have joined iTradeNetwork’s industry-leading network to trade with the thousands of companies already on the network.
NaaS offers more than just trading connections. It includes capabilities for buyer-mandated Advance Ship Notices (ASN); allows adherence to regulatory mandates in the U.S. and Canada like the recent Bioengineered Food Disclosure Standard and the Safe Food for Canadians Act; provides superior quality via fresh inspection and reduces transportation costs through enhanced freight capabilities.
To remain competitive and improve resilience, buyers and sellers need the simplicity of one trading network and a single supply chain analytics hub. This eliminates second-guessing and back-office rework. Network-as-a-Service provides all this and more:
• Immediate connectivity to any retail grocer or foodservice distributor.
• Get paid faster and reduce back-office rework: benefit from industry-best invoice matching rates in excess of 97 percent and eliminate manual reconciliation that delays payment.
• Be more responsive: quickly meet emerging regulations or buyer mandates such as Advanced Ship Notices, the U.S. Bioengineered Food Disclosure Standard, Safe Food for Canadians Act, FSMA 204 and more.
• Analytics and insights: take decisive action with supply chain health monitoring, opportunity and trend identification, anomaly management, and contract and pricing evaluations.
• Collaboration with trading partners: communicate with in-app real-time messaging instead of phone calls and emails. Act quickly on P.O. changes, complete with audit trails.
“Today’s supply chains are more complex than ever, but they should not require equally complex tech stacks to manage them. Network-as-a-Service connects suppliers and buyers quickly so they can start transacting, but it also provides add-on modules for traceability, freight, and other solutions to help suppliers compete and achieve supply chain resiliency,” said Nathan Romney, Chief Product Officer of iTradeNetwork.
