riskmethods Supply Risk Network GA
June 24, 2021
Supply Risk Network enables enterprises and their supply
network partners to collaboratively manage supply risk.
riskmethods Supply Risk Network includes riskmethods
Sub-tier Visibility, a new and innovative approach to
multi-tier transparency that empowers organizations and
their supply partners to minimize disruptions, increase
resilience, and protect brand reputation.
riskmethods’ Supply Risk Network is the market’s first and
only hub that enables both enterprises and their supply
partners to seamlessly collaborate to manage supply chain
risk. The technology empowers enterprises to assess early
warnings and threats, and identify hidden bottlenecks across
the supply chain. When suppliers join, they receive free,
real-time notifications of new and emerging risks so they
can proactively take steps to secure supply and meet demand.
The mutual benefits enhance participation, fuel
collaboration, and boost profitability for all parties.
“Gaining sub-tier visibility continues to be one of the most
complex and pressing challenges associated with managing
supply chain risk. The process is manual, tedious and
time-consuming, and rarely benefits the supplier,” said
Heiko Schwarz, founder of riskmethods. “We’re overcoming
this issue by automating processes, making it easy to
collaborate, and offering tangible value for each
participant in the trading relationship.”
Supply chains remain vulnerable to all types of risk –
financial, geopolitical, man-made, reputational, cyber, and
natural disaster – and their consequences, which can cause
4.2% EBITDA loss per year according to McKinsey, are severe.
The collaboration and visibility provided by riskmethods’
new collaborative risk management hub strengthens resilience
across the entire supply network, enabling organizations to
meet customer demands, uphold delivery commitments, ensure
compliance, and maintain business continuity.
Supply Risk Network enables enterprises to control their
risk exposure,” said Bill DeMartino, Chief Product Officer
and Managing Director of the Americas at riskmethods.
“Collaboration and sub-tier visibility offer businesses more
precise and timely risk insights. 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.”
Clariant, a Swiss multinational specialty chemicals company,
has been piloting riskmethods Supply Risk Network for over
six months and confirms the importance of collaboration and
sub-tier visibility. “Our executive level fully supports
this collaboration initiative with our supply network. We
have a high focus on key topics such as resilience and
compliance. These are important for our entire organization
to secure our reputation, business continuity, and
profitability,” said Artur Kulawiński, Global Supply Risk
Manager at Clariant AG. He goes one step further and
predicts that “a collaborative supply network and sub-tier
visibility will become standard in the market by two to
three years from now.”