From port strikes and product shortages to drought and power outages, today’s disruptors do far more damage to supply chains than they have in the past. That’s because today’s supply chains are complex, interconnected, and global. Shaky from effects of the global pandemic, suppliers have been hit with war, labor shortages, drought, and other afflictions that a more resilient supply chain might be able to shake off.
Take a rest from jumpy reactivity to world events, and instead exercise some strong preventative medicine. The road to healthy risk management starts with proactive supply-chain multi-tier mapping and monitoring. We created Everstream Discover to help companies begin to solve the world’s most pressing supply chain problems.
Trying to throw your arms around the world
More than ever, it’s crucial to have eyes on your entire supplier network at the company, facility, and material levels to avoid disruptions from world events. Even though you may not have suppliers in a disrupted region, one of your supplier’s suppliers could be sourcing materials and manufactured goods from that location.
But most companies don’t even know the extent of their multi-tier supplier network, much less who and where their sub-tier suppliers are, and what they provide. With millions of corporate relationships and billions of transactions across disparate business networks, it’s simply too big to get your arms around.
Sadly, this lack of visibility puts companies in a reactive instead of proactive position. Then the next cross-border holdup, overloaded port, closed airspace, government sanction, or commodity shortage creates unexpected delays and shortfalls.
Analytics give every network street a name
It’s time to put the robots to work. Today’s data analytics systems can map these complex supply chain networks quickly and easily. Data streams parsed by artificial intelligence (AI) and filtered through data science-enabled technology can predict risk instead of leaving managers to react to events when it’s already too late.
Everstream Discover gives companies deep visibility into their entire supply chain and a clear understanding of supplier risk before it becomes an emergency. Here’s what Discover does:
- Collects and aggregates billions of transactions and corporate records across thousands of data sets and sources.
- Resolves structured and unstructured data along with client-provided data into millions of entities and product and location-centric relationships.
- Analyzes the flow of materials and inter- and intra-company relationships.
- Applies long-range strategic risk indices, then changes to these risks by forecasting nearer term disruptions.
- Monitors all global events for potential or actual impact to client’s multi-tier supply chains.
- Transforms network and risk analytics into insights that show risk to your suppliers, facilities, materials, product, and revenue.
This automated process is fully integrated with Everstream’s end-to-end supply chain risk management platform. Alerts can be personalized by location, materials, and other factors, and configured to send to key team members.
Find what you’re looking for
A healthy supply chain looks like this: Your team can foresee problems deep in the supply chain and sidestep them before stakeholders even notice.
In practice, this means your operation can identify new materials sources before a supplier notifies you that they are facing shortages. You can shift vendors before whistleblowers discover human rights violations. And you can adhere to legal requirements before supply chain laws are enacted.
Preventative measures are far more powerful, and usually cost less, than reactive treatments. Contact us to learn more about how Everstream Discover can improve yohttps://www.everstream.ai/solutions/discover/?utm_medium=everstream-dot-ai&utm_source=blog&utm_campaign=blog%20discover%20launchur multi-tier supply chain visibility.