Today, TraceGains announced findings from its annual Customer Executive Advisory Board (CEAB) Summit where captains of industry from across the CPG supply chain, including Grupo Bimbo, Hormel, MegaFood, OWS Foods, and 1800Flowers, convened to share opinions and strategies on pivotal topics like compliance, global horizon scanning, ingredient sourcing, and predictive analytics amidst current economic turbulence. The key takeaway illuminated the industry’s unanimous priority: harnessing AI and technological advancements is critical to meeting dynamic business needs and aligning with the rising variety of environmental, social, and corporate governance (ESG) concerns across the industry.
Prioritizing industry feedback and concerns
In a recent Forbes survey, 64% of businesses acknowledged the importance of AI at increasing overall productivity. Meanwhile, ESG topics have skyrocketed to prominence in an industry with an unwavering focus on progressive issues like sustainability. Not only was this emphasis echoed by CEAB members, it was also supported by insights from TraceGains’ newly established ESG Advisory Group and data from the recent “State of ESG Compliance for the Food and Beverage Industry Report,” which found that only 16% of brands are currently using technology solutions to filter for ESG partners.
“AI is deeply embedded in the DNA of TraceGains. We continually innovate practical applications using the latest technologies to meet our customers’ requirements,” states Greg Heartman, VP of Products at TraceGains. “We are particularly well positioned to unlock AI’s potential by orchestrating industry-specific information in context and enriching it as necessary. Networked marketplaces provide this treasure trove of data, the required context, and the digital threads throughout the product life cycle necessary to uncover meaningful and actionable insights.”
Making a plan for the future
Learn more about how insights from the CEAB are shaping TraceGains roadmap, as well as recent breakthroughs in networked technology solutions for the CPG industry, including the patented PostOnce® and TraceGains Gather™.