Managing Risk in the Retail Supply Chain

FOR GREATER RESILIENCE

Don’t let disruption shortchange your business. Take stock of risk before shortages hit.

Supply chain delays and disruption have hit the retail sector hard. Sourcing materials and transport logistics remain challenging. Some sellers build up inventory to minimize the risk of shortages. Through digitization, sellers can shorten planning cycles and make retail supply chains more agile and less vulnerable.

Three Reasons Why You Should Digitize Your Supply Chain Risk Management in eCommerce and Retail

How Our Customers Master Supply Chain Risk

Quote
Thanks to the updates from riskmethods Risk Intelligence, we are able to quickly develop a deep understanding of the impact on our supply chain from vendors to customers. This enables us to fine tune our contingency planning and mitigate supply chain impacts.
Roel Meerwaldt, Global Operations Risk & BCP Manager, Taste & Wellbeing, Givaudan

Why Manage Risk with The riskmethods SolutionTM?

Use a Total View of Risk to Overcome Your Supply Chain Challenges
the riskmethods icon

Be risk aware

Make better decisions. Uncover weak spots when evaluating sources and planning supply chains

the riskmethods icon

React faster

Maintain business continuity. Understand trends and be the first to respond to issues that could cause shortages

the riskmethods icon

Be proactive

Protect your margins. Proactively ensure compliance and make your supply chain more resilient to disruption

Use a Total View of Risk to Overcome Your Supply Chain Challenges

Reason #1 Sourcing Materials and Logistics

Risk events and delays hit retail supply chain hard.

Challenge: Delays continue to batter retail supply chains. The coronavirus pandemic, record backlogs at major ports, as well as sanctions and shortages from the Russia-Ukraine war have disrupted the retail sector. Fluctuating freight capacity and prices also affect delivery and reliability.

Train going through bridge with a hole in the middle

With The riskmethods Solution, you can: 

  • Optimize your sourcing strategy. Be risk aware and identify geographic clusters or potential bottlenecks before they happen
  • Monitor your whole retail supply chain from suppliers to customers, including all supply paths. Identify any issues in real time, and proactively ensure business continuity and on-time delivery
  • React faster. Thanks to a library of mitigation plans in one tool, you can coordinate your team’s actions before and during risk events

Reason #2 Corporate Responsibility and ESG Criteria

Consumers and stakeholders increasingly insist on responsible businesses that adhere to environmental, social, and governance (ESG) criteria in retail supply chains.

Challenge: Consumers are more passionate about climate change and sustainability. Strict supply chain laws to enforce human rights are taking effect. The sector struggles to prove sustainable and ethical business practices in ecommerce and retail supply chains.

sustainable retail supply chains

With The riskmethods Solution, you can:

  • Get visibility into your supply network – from your sub-suppliers to your customers, to make risk-aware decisions. Avoid compliance violations and protect your reputation
  • Safeguard company integrity. Automatically identify sustainability and compliance risk in retail supply chains, so you can react in real time with streamlined mitigation actions
  • Assess your suppliers on human rights and sustainability requirements, and create risk profiles. Know where raw materials come from, and how goods were made. Avoid penalties and sanctions.

Reason #3 Grow Revenue and Reduce Cost

Retail is a highly competitive market, with ever-present price and delivery stress. 

Challenge: Global supply chain costs and competition are squeezing already thin margins in consumer goods and retail. Yet according to the Deloitte Extended Enterprise Risk Management Survey, nearly six in ten retail executives believe they can grow revenue and lower costs through digital efficiency.  

The riskmethods Solution map

With The riskmethods Solution, you can:

  • Use an interactive world map to visualize your entire network. Get a total view of risk to make your retail supply chains more resilient and secure your revenue
  • Protect your margins. Receive real-time information on all types of risk, so you can react faster to avoid cost explosions, and stay ahead of the competition
  • Save time and money. Have the ready-made tools you need to streamline reactive and proactive mitigation, so you can be sure to meet your customers’ demands

Customers all over the world rely on our solution

Have a question about managing risk in the retail supply chain?

Ask away – no question is too hard for our SCRM experts! Fill out the form and we will be in touch to schedule a time to talk.
Back to top