Stratas addresses a critical marketplace need by integrating and extending quality related processes across an organization’s entire supplier and partner network, the company claims. By providing third party organizations secure access to participate directly in a customer’s enterprise quality management software (EQMS), Stratas eliminates the inefficient, manual methods typical in managing quality in the supply chain --- enabling seamless, electronic management of the entire business process and thousands of related manual transactions annually, executives said. The result is unparalleled transparency, management and control over external quality. When used with TrackWise Analytics, organizations can broaden their ability to conduct pro-active analysis on internal and external quality data.
Stratas creates a more effective supplier quality management system by helping to reduce the likelihood of adverse quality events by enabling the orderly, consistent benchmarking of suppliers and contract manufacturers; reducing errors and loss of critical information, helping to prevent non-compliance and improving security; and driving stronger process regiment and shorter response times, delivering substantial efficiency improvement.
“Stratas will revolutionize how companies manage quality in their supply chain, especially when you consider that more than 50 percent of product recall root causes can be attributed to supplier and contract manufacturer issues, ” CEO Eileen Martinson said. “With recall costs easily averaging between $10 million and $90 million or more, organizations need to do everything they can to improve visibility into both internal and external quality, helping to ensure consumer safety while mitigating risk and litigation exposure and continuing to improve efficiency.”