- 1. Have your production processes changed in the last 10 years, or will they change in the next 10? Hint: If you’re sourcing in emerging markets, experiencing changes in the level of value creation, taking on digital transformation initiatives or reducing suppliers—the answer is yes! And, if so, have you adjusted your risk management strategy to reflect those changes?
- 2. We know you have great supplier relationships. But the real question is: Do you believe that you’re going to be their first call when they experience a fire or explosion (for example, before the fire department—or a competitor)?
- 3. How much money did your company spend last year for emergency logistics—and when will you exceed that number this year?
- There are 3+ critical earthquakes each day
- There are 13 supplier insolvencies per hour—just in Germany
- Every 54 hours an automotive supplier is hit by a fire (affecting an average of 3+ riskmethods customers)
Is risk management important to you?Here are 3 risk management questions you should ask yourself if you don’t want to cost your business a fortune (or if you want to save your job!):
These three questions cover some of the critical weaknesses in many supply chain risk strategies, and the wrong answers can lead to hugely expensive, disruptive or even terminal results for your organization—and your career. Do YOU have the right answers?
HELLA’s new Critical Parts & Supply Chain Risk Management department exists to support functions such as procurement, logistics and quality assurance by addressing risk—and riskmethods exists to help them do that job even better. riskmethods Risk Intelligence™ is the key to assisting HELLA in preventing risk, predicting crises and identifying imminent disruptions in real-time.
But don’t just take our word for it—see how our other automotive customers (we serve 14 of the top 100 automotive suppliers!) have used riskmethods to help procurement, logistics and quality management.
Meet all your OEM requirements.
Meet all requirements from your OEMs by monitoring all pertinent procurement risks (disruptive events, financial stability, natural disasters, political situations, sustainability requirements) for risk prevention and faster crisis response.
Improve category management and sourcing.
Add risk as a new dimension of your SRM solution to improve category management and develop risk-based sourcing strategies.
Ensure your supplier network is future-proof.
A good supply network needs to be future-proof. Supply chain risk management enables you to ensure that adjustments in your supplier network won’t become an issue in the future.
Ensure fast crisis response.
In a time of crisis, minutes are money. By monitoring risk in real time and with the intelligence of an early warning system, you can react faster and take action earlier.
Make cumulative risk transparent.
The disruption of a transport hub can have far-reaching effects on your supply chain. riskmethods offers operability monitoring on more than 5000 transport hubs to make sure things are running smoothly.
Enable n-tier monitoring.
Don’t have direct contact with all your sub-suppliers? It doesn’t matter. riskmethods will alert you to everything you need to know.
Get IATF 16949 compliant.
IATF 16949 places a new emphasis on supply chain risk. The good news is that riskmethods has you covered—our solution is exactly what you need to meet IATF risk requirements.
Be proactive about supplier development.
Supplier development is crucial to an optimal supply chain. riskmethods enables you to visualize and analyze potential risk so that you can use that information to improve and develop your supplier network.
Stay on top of production relocations.
A production relocation should always raise concerns about a possible effect on quality. riskmethods will make sure that you’re among the first to know about unreported relocations.