Specright, the leader in Specification Management, has officially announced the launch of new, expanded Product Lifecycle Management (PLM) capabilities, tailored to service the needs of modern-day F&B.
According to certain reports, the stated capabilities arrive bearing the means to deliver a modern and AI driven, PLM solution, capable of managing formulas, ingredients, packaging, and bills of material. More on the same would reveal how such a mechanism should really go the distance to help brands accelerate innovation while simultaneously ensuring compliance, sustainability, and quality.
To understand the significance of such a development, we must take into account how F&B companies have traditionally struggled with legacy PLM tools that would often fail to capture the ingredient-level detail and supplier-ready specifications required in today’s global supply chains, thus leaving critical data fragmented across spreadsheets and PDFs.
Talk about how Specright’s latest brainchild will address this problem moving forward, we begin from the promise of AI-driven food and beverage formulation to masterfully create, re-engineer, and modify formulas, accelerating time to market and driving new innovations.
Next up, we have an assortment of manufacturing instructions coming into play. These instructions essentially make up structured process data, line-level detail, and export-ready formats that ensure consistent execution from formula to factory floor.
Another detail worth a mention is rooted in the availability of intelligent data processing. You see, Specright’s expanded Product Lifecycle Management (PLM) capabilities pack together an AI solution focused on automatically digitizing documents (e.g. COAs, COIs) for faster outcomes and enhanced data extraction. Joining that would be a SpecGPT feature, which brings forth a prompt based interface to facilitate insights and streamline the user experience.
Beyond that, we have a facility dedicated towards product data management. Leveraging the given facility, users can seamlessly centralize all product data in one place to eliminate rework, move faster from idea to launch, enable real-time collaboration across teams and partners, and reduce errors with data integrity checks.
There is also a facility in play to support recipe and formula management efforts, something which is markedly inclusive of dynamic batch calculations, ingredient-level traceability, and claims validation.
Hold on, we still have a couple of bits left to unpack, considering we haven’t yet touched upon the prospect of supplier collaboration. Thanks to that, users can achieve real-time collaboration and spec-sharing with suppliers, achieving data accuracy, compliance, and speed to market.
Rounding up highlights is a space for new product development. This particular space presents stage gate workflows, project management, automated approvals, and spec-to-product connections that shorten innovation cycles.
Among other things, we ought to touch upon the features Specright is set to launch in the near future.
For instance, the company is planning to introduce a nutrition and labeling feature, which will streamline compliant label creation across regions with AI-powered setup, real-time claims validation, multi-level formula rollups, regulatory alerts, and more.
Alongside that, it will conceive AI Agents for workflow automation, specification and BOM modifications, as well as packaging and consumer goods ideation.
In case that wasn’t enough, Specright is also looking to deliver a Formulation Batch Calculator enhancements committed to support multi-level formula calculations and mass-to-volume conversions for more accurate, real-world batch.
Founded in 2014, Specright’s rise up the ranks stems from helping companies digitize, map, and take action across their supply chain to reduce costs, increase profitability, and drive sustainability. The company is presently focused on empowering customers across industries, including packaging, food and beverage, consumer packaged goods, pharmaceutical, retail, industrials, and more.
Specright’s excellence in what it does can also be understood once you consider it has already been named to the Deloitte Fast Technology 500 list for the year 2024, and one of the Most Innovative Companies for 2023 by Fast Company.
“While the core of F&B PLM remains specification management, recipe and formulation management, and bills of material for labeling and packaging, the PLM solution landscape is now catering to additional industry requirements through enhanced and extended features. Traditional PLM systems were never built for the realities of fast-moving consumer goods, like Food & Beverage products—where managing the complexity of ingredients, formulations, and packaging is critical,” said Mike Boese, CEO of Specright.
