Uncover the hidden relationships in your supplier chain
Global supply chains are increasingly complex and interconnected. In turn the consequences of disruptions to those supply chains are now more and more difficult to assess. Whether the threat comes from unknown exposures in your supply chain, natural disasters, or geopolitical events, being able to identify and proactively address supplier risks is critical to the resilience of your business.
Disruption at a small but deeply networked supplier shines a light on supply chain interdependencies. A single breakdown can quickly ripple across the globe with devastating financial consequences. For example, a fire at a magnesium die-cast plant in the United States in May 2018 disrupted worldwide automotive supply chains. Major automakers temporarily idled plants as they determined how to restore production.
Risk managers need to understand these key-dependencies. By combining external data sources, and using sophisticated risk and data modeling techniques, we help risk managers gain a deeper understanding of the various dimensions of their connected risk. For each supplier, we provide an overall risk score and specific threats are analysed e.g., fire, flood, geopolitical events, or financial distress. Next, we provide indicators of the vulnerability of your supply chain network to disruption at a specific site. This understanding of the vulnerability of a supplier location can be used to steer procurement strategy and in some cases trigger the engagement of loss prevention experts to advise the supplier. These insights help to ensure that risk managers focus limited resources for risk mitigation strategies on those areas that are most vulnerable.
By partnering with SwissRe, we can help you uncover and explore hidden relationships and highlight emerging risks in your network.