riskmethods Supply Risk Network

Why Collaboration Drives Resilience

Supply chain disruptions are expensive. On average, supply chain disruptions cause 4.2 % EBITDA loss per year, according to McKinsey Global Institute 2020. Such losses can be drastically reduced, or even completely avoided, when you have a resilient supply network.

With Supply Risk Network, companies collaboratively manage supply chain risks and gain multi-tier transparency via an innovative approach that benefits each of the participants in the network. These mutual benefits enhance participation, fuel collaboration, and boost profitability for all supply chain partners.

What Is Supply Risk Network?

Supply Risk Network is a trusted hub for enterprises and their supply network partners to collaboratively manage supply chain risk, empowering them to increase resilience, avoid disruption, ensure compliance, and protect brand reputation.

Strengthen Supply Chain Resilience

Improve Partner Collaboration

Ensure Compliance and Transparency

Protect Brand Reputation

Access the Power of Network Collaboration

Synchronous understanding of supply chain risk across a common supply base. Cultivate risk awareness, and learn of risk events anywhere in the network with real-time notifications
Insight into common choke points in shared supply chains. Uncover threats in the sub-tiers, including transport hubs, or risk-prone regions early, to reduce or avoid emergency costs later
Collective goal of creating a resilient supply chain in uncertain times. Strengthen your ability to avoid or recover from risk events
Deepened level of trust and commitment in commerce relationships. Recognize that what affects your partners affects you. Share data within the network to strengthen business relationships
Access to growing community of global supply chain professionals and innovators leveraging AI and machine learning for supply chain risk mitigation

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Enterprises can avoid costs and disruption by addressing risk before it happens and use prepared action plans to speed up risk mitigation. Collaboration between all supply parties leads to more stable supply chains, partnerships, and revenue streams for both buyers and suppliers.

Bill DeMartino, Chief Product Officer riskmethods

How Collaboration Drives Resilience for Enterprises and Suppliers

Supply Risk Network explores a new frontier of collaboration between you and your customers. We’ve made it easier than ever for your suppliers to share data with you securely, so you can build a resilient supply network together. All participants benefit from membership in the network. But how does it work?

Enterprise

As a riskmethods customer, you send invitations to your suppliers, encouraging them to join Supply Risk Network. As soon as your suppliers upload data on their relevant suppliers, you can:

Gain multi-tier risk insights via riskmethods Sub-tier Visibility^TM
Extend the value of The riskmethods Solution™ for risk tracking, alerts, and mitigation at the sub-tier level
Understand criticality of risk events in your sub-tiers, and be able to react faster to mitigate potential risks
Save time and money by automating time-consuming manual collection of risk information. Avoid contractual fines and penalties from missed deliveries
Ensure compliance and achieve ESG and sustainability goals along multiple tiers of your supply chain through improved transparency

Supply chains are becoming more complex, and we would like to work with our suppliers to create more transparency and more security for all participants in the supply network.

Mike Schröter, Manager Supply Risk, DEUTZ AG

Supplier

First, your customer invites you to join Supply Risk Network at no cost to you. Next, you register and upload the names and locations of relevant suppliers through a secure IT-environment. This enables you to:

Instantly view risks in your supply chain on an interactive world map via riskmethods Risk Radar Network Edition^TM
Receive automatic risk alerts in real time of new and emerging threats to your supply chains
Get detailed insights about the risk status of your own suppliers, so you can identify and mitigate threats faster
Support end-to-end supply visibility by sharing your supplier data with your customer. Avoid costs and reputational damage related to risk
Improve risk awareness, so you can avoid costs by addressing risk before it materializes

The power of network collaboration provides further advantages for all participants:

Achieve mutual supply chain resilience by reducing risk exposure of the entire supply network
Jointly accelerate risk mitigation efforts to reduce the impact of risk events
Confidently meet demands of your end customers to uphold delivery commitments

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According to Gartner, 77% of organizations note collaboration with key customers and suppliers as a key investment or adjustment in planning to achieve greater resilience and/or agility.

2020 Gartner Future of Supply Chain Survey

What Are the Business Benefits of Collaboration for Suppliers?

When your customer invites you to join riskmethods Supply Risk Network, it’s a great opportunity to foster the collaboration with your business partner. You gain supply chain risk insights via riskmethods Risk Radar Network Edition^TM, to become a more risk-aware enterprise. You collaborate with your business partners on risk mitigation to strengthen the entire network. For suppliers, participation is free.

Risk Radar Network Edition profiles and monitors the suppliers that you enter into Supply Risk Network to reveal risk in your supply chain. This covers all kinds of risk such as financial risk, natural hazard risk, reputational risk, geopolitical risk, man-made risk, and cyber risk. By checking the status of your suppliers via an interactive world map, you reveal supply chain dependencies and risky situations.

Artificial intelligence monitors your supply chain risk in real time. Instantly understand the impact of a risk event by quickly viewing your affected suppliers. Accurately evaluate your risk exposure, and take action to prevent risk and the resulting costs. You have the details you need to take fast action. Make the right decisions without needing to make a tech investment.

Onboarding to Supply Risk Network is convenient and user-friendly thanks to easy sign-up and automated processes. Your data is protected in a secure IT-environment and will not be shared. Among others, your business benefits include:

Deepen the relationship with your customer, and become a trusted partner of choice by jointly collaborating on risk management
Support end-to-end supply visibility by providing your supplier data to selected network partners. This shortens reaction times to risk events, and allows you and your network to avoid costs and reputational damage related to risk
Get detailed insights about the risk status of your own suppliers, so you can identify and mitigate threats faster in real time. Protect your business and relationships – without having to make a technology investment
Save time and money. Participating in riskmethods Supply Risk Network relieves time-consuming manual collection of risk information. It is a perfect first step into becoming a more resilient enterprise and trustworthy business partner
Onboarding to riskmethods Supply Risk Network is convenient and user-friendly thanks to easy sign-up and automated processes for sharing information on suppliers and sites with your customer
Stay competitive through greater resilience in a market where only the best supply network will win

Why Manage Risk with The riskmethods Solution?

riskmethods provides the advanced technology needed to manage supply chain risk proactively and collaboratively, to make your business more resilient and drive your success.

Be risk aware

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

React faster

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

Be proactive

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

riskmethods Supply Risk Network™