Identify risk trends and details, so that action can be taken before it's too late.
One of the most powerful of the modules, Economic Resilience proactively identifies and monitors the performance of each supplier. All data is measured against key performance indicators (KPIs) that you establish. The system then issues alerts whenever the thresholds are exceeded so that action can be taken before it's too late.
The performance information typically tracked includes financial, quality, on-time delivery, certification status, and so on. Data sources include internal systems as well as external sources, such as Dun and Bradstreet.
Using simple color coding of green, yellow, and red, the Resilience module gives users immediate insight into the health of their suppliers. Drill-down capabilities provide increasingly rich detail, helping organizations make more informed decisions on courses of remedy.
The model can also be used to run what-if scenarios to identify the impact of various decisions. For instance, what happens to the financial viability of Supplier A if one of the three products they provide is sourced elsewhere? Such predictive analysis provides a more robust supply chain perspective when making decisions that are often made in isolated siloes.