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TraceLink's powerful "Integrate-Once, Interoperate with Everyone™" network model, massive scalability, and support for all types of business transactions has earned it a top leadership position in IDC's latest ranking of multienterprise supply chain network providers.
TraceLink customers can exchange business information with all partners through a single integration in their preferred format without maintaining separate integrations for each customer and partner. TraceLink supports all transaction types and maps via an ever-expanding catalog as customer needs evolve and mature.
TraceLink was named a leader in the new report, "IDC MarketScape: Worldwide Multienterprise Supply Chain Commerce Network 2023 Vendor Assessment," for its capabilities that help life sciences and healthcare customers ensure supply and generate valuable business insights through end-to-end digital integration with supply chain partners.
"TraceLink continues to be a strong entry in the multienterprise supply chain commerce network space, thus their positioning as a leader in the most recent IDC MarketScape," said Simon Ellis, Group Vice President and Leader of the Global Supply Chain Strategies Practices at IDC and author of the MarketScape report.
IDC Manufacturing Insights defines a multienterprise supply chain commerce network as any platform that facilitates the exchange of information about the supply chain or supply chain processes and enables transactions to be conducted among disparate parties. IDC bases its assessment on an analysis of vendors' current capabilities and future plans.
"At a time when disruption is constant and new requirements evolve constantly, multienterprise supply chain commerce networks are an important tool to both meet challenges and seize on new opportunities," Ellis said. "Whether it's broadening and deepening visibility capabilities to be more responsive, or meeting new regulations like Scope 3 sustainability requirements, the role of the multienterprise network is central to better business performance."
Easy integration tops list of key TraceLink strengths
TraceLink performed strongly in several key areas from ease of integration to helping companies ensure supply. According to the IDC report, key TraceLink strengths include:
- Integrate Once, Interoperate with Everyone™: With a single integration to the TraceLink network, customers can exchange business information with 100% of their trade partners in real time with complete interoperability.
- Scalability: TraceLink supports all transaction types in all formats through an ever-expanding catalog of transforms/maps and an intuitive user interface for those trade partners without the technical maturity needed for digital integration.
- Continuous Integration: The TraceLink Network Success Team works continuously to maintain integrations to the network as partners change their required formats or new partners and products are added, eliminating the need for customers to assign IT resources to ensure that information can be exchanged.
- Ensure Supply: More complete digital integration of supply chain partners improves visibility and intelligence, reducing late or delayed shipments and product shortages.
Some of the key elements of the TraceLink product portfolio include Track and Trace Global Compliance Solutions; Supply Chain Work Management, which enables trade partners to digitalize work work across multiple tiers of supply chain partners; Product Availability Intelligence, which enables manufacturers, pharmacies, and wholesale distributors to predict drug shortages up to 90 days in advance; and Multienterprise Information Network Tower, which enables the real-time exchange of business information, including forecasts, purchase orders, invoices, and much more.
About the TraceLink Network
All TraceLink Solutions run on the TraceLink Network, the world’s largest supply chain network digitalization platform for life sciences and healthcare. Key network metrics include:
- 291K+ authenticated and onboarded network members
- 2,645+ pharmaceutical manufacturer customers and partners
- 7,400+ live CMO connections across more than 1,300 customers
- 930+ distribution and logistics customers and partners
- 275+ healthcare and retail customers operating 20,000+ global pharmacy locations
- $4.7B+ in customer savings by avoiding point-to-point integrations
"In today's fast-paced, highly analytical supply chain, using networks to facilitate commerce and collaboration can mean the difference between meeting supply chain performance goals and not meeting goals," Ellis wrote. "Healthcare, pharmaceutical manufacturing, and life sciences organizations looking for a multienterprise application platform for building process networks should consider TraceLink."
