New multi-tier supply chain visibility solution aims to mitigate ‘previously invisible risks’
- Published: Thursday, 17 March 2022 10:36
Everstream Analytics has announced the availability of Everstream Discover. Powered by proprietary data, AI, and graph technologies, the solution gives users visibility into their entire supply chain and ‘the highest level of risk insights, recommendations and protection against disruption’. Discover is claimed to be the only automated multi-tier visibility solution fully integrated with an end-to-end supply chain risk management platform.
Supply chains are only as strong as their weakest link, and in today’s complex networks, many companies have little insight beyond their tier-1 suppliers. According to McKinsey, roughly 51 percent of supply chain disruptions occur in tier-2 suppliers and lower, but only 2 percent of companies have visibility into their supply base beyond the second tier.
With millions of corporate relationships and billions of transactions across disparate business networks, proactively and manually identifying risk across multi-tier supply chains is nearly impossible.
Discover identifies the most impactful risks in the network and creates targeted insights-based inputs from the Everstream platform, including incident monitoring, predictive risks, ESG, and shipment data, slashing the time, cost, and complexity of traditional supply chain management practices. The platform can map, monitor, assess, predict risk, and protect complex global supply chains, helping solve one of the most significant sources of risk for customers.
“As we've witnessed over the last 24 months, lack of supply chain visibility can cause massive global disruptions; and this is further exacerbated when access to products, materials and services needed for customers are not within reach,” said Julie Gerdeman, chief executive officer, Everstream Analytics. “With the Discover solution, users can now see deep into the supply chain, revealing potential risks before they impact revenue and customers. For example, getting a 4-month head-start via sub-tier visibility on a critical component to a single $50M product line could avoid margin loss of millions of dollars.”