The Silicon Review
Supply chain risk management (SCRM) is the process of taking strategic steps to identify, assess, and mitigate the risk in your end-to-end supply chain. A comprehensive approach to SCRM involves managing all types of risk for all tiers of supply and all risk objects (suppliers, locations, ports, and more). When done well, SCRM is a critical enabler embedded and integrated into the core processes of an enterprise. The only way to address risk is to make sure you're identifying it in the first place. The first phase of the risk management lifecycle is to establish a risk profile and then enact active monitoring to keep it up to date.
riskmethods is one such firm that empowers businesses to identify, assess, and mitigate supply chain risk. By using artificial intelligence, the firm helps you automate and accelerate threat detection, enabling you to gain a competitive advantage with a well-managed approach to meeting customer demands, protecting reputation, and reducing total cost of risk. The company serves companies worldwide, protecting hundreds of brands and trillions in annual revenue. Harnessing big data and machine-learning AI technology, the firm identifies the real threats to a supply network and then gives you the tools you need to assess the impact of that risk and take proactive steps to prevent or mitigate it collaboratively. The firm believes that transformative technology is necessary for a 360-degree view of risk, and the best way to manage risk is to address it proactively. The firm has collaborative communication is one of the keys to supply network visibility, which is what allows you to identify the weakest link in your supply chain and then make it more durable.
Astonishing services offered by riskmethods
riskmethods Supply Chain Recovery Bundle™: The riskmethods Supply Chain Recovery Bundle™ allows you to master the coronavirus crisis's recovery as you move from tactical recovery to long-term supply chain resilience. The Bundle covers you against all kinds of threats to your business that can cost you time, money, and reputation, such as production downtime, supplier bankruptcies, cyber, or compliance risk. And it's not just about threat detection. Through insightful analytics, the Bundle allows you to detect trends and vulnerabilities. It also provides you with easy-to-use collaboration tools to enable a coordinated approach to threats. This helps you stay one step ahead of risk - and your competition. The riskmethods Supply Chain Recovery Bundle™ provides tailor-made supply chain risk management. This cloud-based software offering supports companies in the recovery phase. The firm enables you to manage risk in your changing supply network, including suppliers in financial distress and newly added suppliers.
riskmethods Supply Chain Continuity Program™: Many companies in the recovery phase must manage risk within a vastly changed supply network that includes suppliers at risk and suppliers quickly onboard during the crisis. As you move to the new normal, you will need to gain visibility into this new structure. The firm recommends that you perform a self-evaluation. By uncovering threats, you are better equipped to manage all types of risk in your supply chain. A software-based solution will provide a total view of risk into your entire supply network. Examples of possible threats include supplier financial viability, cybersecurity, quality, compliance, pandemic outbreaks, natural hazards, geopolitical, material availability, and many more. riskmethods monitors over 100 risk indicators that can impact supply chain continuity. The company's Supply Chain Continuity Program™ is designed to help companies quickly understand and manage their risk exposure for recovering from the coronavirus crisis. Gaining visibility into your entire supply network is key to achieving risk preparedness. The framework includes checklists for self-assessment. These allow you to see where you are today and what needs to be achieved to master the current situation.
riskmethods Risk Radar™: riskmethods Risk Radar profiles and monitors your supply network to reveal risk in real-time. Be more risk-aware, counter threats, more proactively, and avoid costs. Supply chain risk management is about the whole spectrum of risk. riskmethods data sources assess financial risk, natural disaster risk, reputational risk, geopolitical risk, man-made risk, and cyber risk. From sub-tiers down to your customers, check your supply network's health via an interactive world map. Reveal supply chain dependencies and risky situations and take actions to prevent risk from costing you.
Patrik Heider, Chief Executive Officer