Analyze and Evaluate the Impact of Supply Chain Risks

The Supply Risk Network is a comprehensive solution for proactive monitoring and analysis of supply chain risks

Munich, GermanyMarch 19, 2015riskmethods, technological provider of the risk analysis of global supply chains, announced the extension to the software-as-a-service (SaaS) solution Supply Risk Network: The new Impact Validator module complements the Risk Radar, which monitors and evaluates supply chain risks, and provides direct information on the relevant extent of damage in a risk event. In addition, the Impact Validator offers extensive options for analyzing supplier criticality and dependency. The Supply Risk Network, therefore, now also provides an aid for determining which suppliers require attention concerning risk avoidance or risk mitigation actions.

The SaaS solution Supply Risk Network from riskmethods offers companies a comprehensive solution for proactive monitoring and analysis of supply chain risks, allowing them to recognize risk potential at an early stage. Thanks to the new Impact Validator module, the extent of damage in a risk event now also becomes visible to Supply Risk Network users on an ad-hoc basis.

"Responsible parties can now proactively reduce the potential impact and respond quickly with appropriate action steps based on facts," explained Rolf Zimmer, managing director of riskmethods. The Impact Validator was developed in collaboration with riskmethods customers. "We integrated the experience and knowledge of our customers," added Zimmer. "The result is an extremely user-friendly and configurable user interface for ascertaining the extent of damage, both qualitatively and quantitatively.”

The next step is to be able to assess the criticality at the time of the relevant risk. In case of a risk, a predefined questionnaire can then be sent to the affected supplier at the push of a button. In this way, a check can, for example, be performed as to whether delays will occur, whether the supplier is able to manufacture at a different plant, or whether the incident will impact price and quality, for instance.

The efficiency of the Impact Validator also becomes very apparent in the optimization of the supply chain itself. By applying the module on a supplier or product group level, to assess their criticality for example, information is gained as to which suppliers or product groups are associated with the greatest dependencies. "Only once the risk information is combined with this type of criticality data is it possible to determine where an urgent need exists for addressing risks proactively and with appropriate action plans," mentioned Rolf Zimmer.

Companies in this article
Request More Information
Fill out the form below to request more information about Analyze and Evaluate the Impact of Supply Chain Risks