As we have moved to virtual briefings, I have increasingly been excerpting short video segments (with permission ) as part of my Analyst Cam series.
This time it is Matthew Wright, Founder and CEO of Specright which provides specification data management to Fortune 1000 companies with complex needs.
They were introduced to me by SAP.iO Foundries, which represent SAP’s startup programs, including accelerators, that enable startups that can deliver value to SAP customers (see their presentation here ).
Specright was one of the startups in their Sustainability cohort last year but as you will hear precision in specifications can have an impact in every process which touches raw materials, ingredients, formulas, packaging and finished goods.
Matthew’s passion comes from a couple of decades in the packaging industry. As he describes in his book The Evolution of Products and Packaging, we have seen an explosion in SKUs and complexity in supply chains. As he says, existing ERP, PLM and other software were designed before complexity grew exponentially, and the lack of focus on specifications is the root cause of many supply chain issues we are seeing. BTW, Gartner identified them as a Cool Vendor in their Supply Chain category in 2020.
He presents on three customers and how they have benefited from better specs – one reduced scrap production, the second reduced spend on corrugate packaging and the third in sourcing a critical ingredient across multiple product SKUs. He also describes how they have helped industries set standards and work with other bodies which are tasked with defining them.
Very nicely done, and I am looking forward to reading his book.
