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BOSTON, MA - (February 5, 2024) - TraceLink, the world's largest digital network platform for healthcare and life sciences, expanded its digitalization capabilities in 2023, leading to an annual increase of more than 300 new customers. Utilizing the industry’s largest integrated digital network of over 290,000 entities, TraceLink is working to revolutionize the way businesses orchestrate the digital journeys of products, processes, and partners that span the end-to-end supply chain, resulting in the following 2023 achievements:
Customer Growth: Surpassing 1,600 total customers, an increase of 23%, a testament to the market's confidence in TraceLink’s unique supply chain digitalization model. These 1,600+ customers’ supply chain activities operate in over 100 countries globally.
Solution Adoption: 50+ new clients in 2023 selected TraceLink’s cutting-edge solutions in orchestration intelligence, partner orchestration, and process orchestration, demonstrating broad industry demand for end-to-end supply chain digitalization capabilities.
Successful Implementations: 510 customer implementation projects were deployed on the TraceLink network in 2023, demonstrating the effectiveness of TraceLink’s unique Integrate-OnceTM partner integration and solution delivery model.
“Our team's relentless focus on customer enablement and success, and our ability to meet rapidly changing supply chain demands through our proven network integration capabilities, have been key drivers of our growth this year. Eclipsing more than 1,600 total customers in 2023 is a clear indication that our vision and maturing set of product, partner, and process orchestration capabilities is resonating with the market,” said Shabbir Dahod, President & CEO, TraceLink.
The growth was fueled by the introduction of a range of new solutions aimed at tackling the industry's most intricate multienterprise challenges:
- Product Availability Intelligence (PAI): Designed to enhance product availability and minimize shortages by leveraging advanced analytics and real-time data to predict them 90 days in advance.
- Multienterprise Information Network Tower (MINT): Enabling 100% partner integration, at an affordable cost, to provide a comprehensive view across the supply chain, facilitating better decision-making through increased visibility and collaboration.
- Supply Chain Work Management for Compliance Exceptions (SCWM): Facilitating the management and resolution of compliance exceptions efficiently, ensuring regulatory adherence while maintaining supply chain integrity.
- Compliance Solutions for Emerging Markets: Supporting regulatory requirements in Kazakhstan, Kyrgyzstan, and other emerging markets, aiding businesses in navigating complex compliance landscapes.
- Expanded DSCSA Capabilities: Streamlining compliance with the Drug Supply Chain Security Act (DSCSA), improving traceability and security in pharmaceutical supply chains while providing operational efficiency.
These new offerings underscore TraceLink's unwavering commitment to solving the most pressing challenges of supply chain orchestration. TraceLink's efforts in digitalizing the supply chain continue to set the industry standard, demonstrating how strategic innovation can lead to tangible improvements in efficiency, compliance, and collaboration across the global healthcare and life sciences sector.
