Specifications are the critical DNA across the value chain ensuring that companies succeed in delivering their product to the market and get paid for it.
With many companies managing their packaging specifications in systems that are not specifically designed to manage specs, the result is a proliferation of SKU’s, higher costs, greater business risk, and efficiencies throughout the value chain. Accurate specs enable the value chain to function faster and effectively, while inaccurate specifications impact logistics, transportation, speed to market, responsiveness to recall/failure, etc.
specright is a specification management company with a vision to leverage specification expertise and cloud technology to improve the way food travels from the field to the end consumer efficiently. Offering the industry a better way to create and manage those specs is paramount to the survival of the food product itself. specright’s mission is to empower customer efficiencies by providing an Intelligent Specification Management Platform that is available anytime, anywhere from any device.
The packaging specification market is a $585B segment, with around 200m packaging SKUs in the world. With 60m in the United States alone – this number is growing daily. Today, there is no common method, technology solution, or platform for handling packaging specifications and they are managed through disparate systems and solutions, such as emails, spreadsheets, binders and ERP systems. ERP & PLM systems are not built for SKU and specification management - Source/Share/Analysis and specification repositories are generally PDF-based and are not comprehensive enough or allow intelligent data analysis.
Compared with some of the current methods for managing specifications, specright is designed specifically for specification management and is designed by experts in the field. Unlike current methods, specright delivers intelligent specification management through dynamic analytics that empower informed decision-making, increase transparency, reduce the time to bid, secure easier transition to new suppliers, and generally increase efficiencies across the value chain.
specright focuses on controlling specifications and sharing information for products, packaging, and supply chain touch points. The company’s cloud-based tools and engineering services are accessible to players along the entire supply chain: growers, packers, shippers and retailers. With all partners sharing a real-time, single source of truth: quality, food safety, net yields, and profits improve while costs decrease for everyone.
Companies need a fast, simple solution to:
1. Share their specification DNA both internally and externally.
2. An easy method to audit specifications for quality, 3rd party authentication and transparency.
3. A solution to assist in analyzing their specification to reduce SKU proliferation, improve efficiency and reduce costs by transitioning suppliers quickly and employing a faster time to market.
With specright’s standardized cloud-based technology, companies are able to change the way company specifications are shared, analyzed and audited. This standard specification methodology allows for viewing/interacting with/sharing data by everyone, making it easier to cooperate, adding value to relationships and creates the standard for doing business.
With specright, customers find:
• Bids that took 6 months, now take weeks
• Transition of business to new suppliers is faster than ever
• Audits that took months to prepare, are live
• Products are faster to market with quickly executed requirements
• Reduction of recalls due to faulty labeling with revision tracking
• Bottlenecks/duplicates quickly identified for cost saving initiatives
Matthew Wright, President and Founder of specright has over 24 years of experience in packaging and has held various operational and management roles with International Paper and Temple Inland. From his experience working as a Vice President running a $500m business unit, working in in Fortune 100 companies and starting and running his own profitable private packaging company, Matthew developed the concept of specright after years of experience seeing how the lack of a standard way of sharing specification data between companies leads to tremendous inefficiencies and exorbitant waste.
The remainder of the specright team is composed of professionals with years of experience in packaging, SAAS software, CPG, engineering services, supply chain, and software. They bring a wealth of knowledge in marketing, sales, product development in both large enterprise companies, as well as fast growing profitable companies.
In 2014, Matthew started the company by designing and building a cloud-based platform to address specification issues and the costs associated with a lack of standardized specification platform for sharing and communicating spec data. Working with agriculture customers and Cal Poly’s Orfalea College of Business, Matthew and the team developed a unique solution that gets to the very heart of food packaging and delivery.