Optimize the Tea Trading Lifecycle
At iRely, We Know Tea
Tea is the world’s second most widely consumed beverage, with global growth predicted to be 6.6% annually from 2022 to 2028. Tea production is complicated. Teas are blended using different origins and characters to create a well-balanced flavor, but variations in tea leaf quality and differences from season to season require careful management to ensure consumers cannot detect a difference in flavor from one purchase to the next.
At iRely, we have more than 35 years of experience managing commodity trading and risk management for some of the largest tea companies in the world.
Solutions for Commodity Trading and Procurement
iRely provides a complete solution for commodity trading and commodity procurement.
iRely enables you to capture information related to production activity at the source. The system maintains a detailed trace of this activity, so you can do mock-recalls using the system. It provides complete forward and backward traceability, allowing you to link back from shipment lot to source ingredients and forward from source lot to all impacted shipments. You have access to traceability information for both receipts and sales as mandated by regulations.
You can manage both work-in-process (WIP) and finished goods (FG) production in iRely, with seamless integration into your ERP system (SAP, Oracle, Microsoft, etc.).
- Use iRely’s recipe management to ensure you have the correct blend of teas
- Plan and track production of each blend at the lot level using blend management and blend sheet generation
- Base batch production on actual consumption of raw materials
- Consume ingredients based on actual production
- Manage production by runs with yield management at the run level
- Apply an unlimited number of properties and tests with limits for data capture
- Combine tests into quality profiles that can be used to capture quality for products, materials, and in-process quality data against a run
- Create profiles with customer specifications and limits
- Evaluate quality data entered, with visual indications for products in and out of specifications
- Use contract inquiries to identify contracts that should have had samples received but have not been received ye.
- Analyze supplier performance (rejection and acceptance rates)
- Record samples received (and sent if applicable)
- Record quality results per user-defined criteria (or just indicate accept/reject)
- Generate sample inquiries to follow up on samples where results are still pending
- Generate contract inquiries to identify contracts that should have had samples received but have not received them yet
- Analyze supplier performance (rejection rate)
- Establish and select quality criteria to be used on samples that will be evaluated for the contract