Managing Risk in the Telecommunications Supply Chain

Supply reliability is vital to the telecommunications industry. Discover how Nokia gained prize-winning visibility and can allocate resources more wisely using The riskmethods Solution TM.

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You can’t afford to let risk disconnect your supply chain. We hear you.

Telecommunication supply chains are incredibly complex and varied, serving the construction of vast infrastructures, as well as the manufacture of devices. This often means managing 100,000+ suppliers, all with unique potential for risk. Pandemic-driven surges in demand further stress supply chains.

Top Three Challenges for Telecoms Supply Chains

How Our Customers Master Supply Chain Risk

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“The riskmethods Solution is an integral part of our supply chain risk mitigation activities. It gives us the visibility we need to understand our risk exposure and take the right actions to address it.”

Tomi Hardén, Risk Manager, Nokia

Why Manage Risk with The riskmethods Solution?

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Be risk aware

Make informed decisions. Understand vulnerabilities in your global supply chain, such as site clusters and single-source situations

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React faster

Boost business continuity. By detecting risk patterns that could lead to shortage, you can beat the competition and secure supply

be-proactive

Be proactive

Protect your business. Take all risks into account - including geopolitical, regulatory, and cyber - to foster resilient supply chains

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

Challenge #1: Access to Components

With specialized suppliers and clusters in high-risk regions, shortages remain a threat

Challenges: Securing supply is a pressing issue. Particularly semiconductors are prone to shortages, and fights over raw materials such as rare-earth elements are escalating. Geopolitical tensions prohibit trade with key players, yet few alternatives exist. With remote work on the rise, demand for devices and services is skyrocketing.

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With The riskmethods Solution, you can:

  • Visualize your supply network on a world map to identify vulnerabilities such as bottlenecks or supplier clusters in high-risk regions
  • Monitor your supply chain, especially single-source suppliers and other partners that have a high impact on your business processes. Gain real-time insights on dynamics and trends that could lead to shortages or disruption. Avoid or reduce costs from emergency mitigation
  • Understand which of your vendors, third parties, or suppliers is prone to geopolitical risk. Create contingency plans with our ready-to-use mitigation tools to reduce consequences for your business, and gain competitive advantage

Challenge #2: Compliance

Regulation and continuity demands are coupled with calls for transparency

Challenges: Entire economies and national security rely on telecommunications infrastructures. Businesses and governments place high priority on continuity, integrity, and low risk in the telecoms supply chain. Consumers also increasingly insist that device makers prove fair labor conditions.

With The riskmethods Solution, you can:

  • Get risk profiles for all your suppliers, vendors, and third parties. Continuously monitor your supply network for environmental, social, and governance (ESG) risks. Streamline remediation efforts to take effective action on violations, and protect your reputation
  • Reach out to suppliers and third parties to ensure that they adhere to laws, and avert the negative impact of any violations in your supply network, or long-term damage to your reputation
  • Make life easier for procurement and supply chain managers. Automatically document all your risk management measures. You can easily share them with auditors, business partners, and stakeholders, while meeting customer demands

Challenge #3: Cybersecurity

Strict data protection laws and security standards apply as cyber threats to supply chains reach an all-time high

Challenges: Along with greater digital access and new technology (5G), cyberattacks continue to increase and evolve. Data protection laws and security standards such as the Telecommunications Industry Association’s SCS 9001 require companies to make their networks secure. This includes protection from lateral infiltration through third parties or compromised parts.

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With The riskmethods Solution, you can:

  • Get visibility into who your business partners are (including sub-suppliers, contractors, and third parties), and where they operate. Collaborate at all levels to anticipate threats
  • Assess your third parties’ cybersecurity ratings to ensure they meet your standards and your stakeholders’ requirements – proactively work with key vendors, suppliers, and third parties to ensure they keep their cyber risk low
  • Uncover weak links. Benefit from artificial intelligence that detects news of supply chain data breaches in real time, so you stay on top of what’s happening in your network

Customers all over the world rely on our solution

Have a question about managing risk in the telecommunications 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.
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