RAPIDRATINGS BLOG

RapidRatings for Supply Chain Risk Managers: This Moment is Yours (and The Next One Too)

Posted by RapidRatings on December 15, 2020
 
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In painting, there is an oft-used technique where colors, lines, and shapes are applied with increasing or decreasing intensity to create a sense of distance.

Used as early as ancient Rome, and more prominently throughout the Renaissance, atmospheric perspective (as it’s called) gives the illusion of three dimensions on a two-dimensional plane—obscuring images by imitating the conditions produced in the atmosphere: fog, clouds, mist, and even gloom.

In Supply Chain (writ large), there is also a type of atmospheric perspective.

More so than just the snapshots of cargo moving through air, land, or sea—risk management views can be obscured by great time-distances or (potentially) illusory information that underpins a given outlook.

But in your role, you can’t have that. You need a clear view; one dependent on clear, reliable information to manage risk in its many forms. Real data matters.

Even pre-pandemic, the world was getting riskier. And the decisions that supply chain risk managers made on any given day, were made more complex by changing weather patterns, natural disasters, new cybersecurity threats, and dynamic changes in international trade.

With the pandemic, that complexity has multiplied; and your role made even tougher. And “Supply chain” is now at the tip of everyone’s tongues (even consumers).

Your perspective (the supply-chain-risk-management one), has never been more important.

But to meet this moment (and inevitably the next), you’ll need accurate data, unblurred by false flags like share price or payment statements; not to mention, a standard scale to compare the financial health of your suppliers across your portfolio; and finally, a discreet, secure network of supplier information that allows suppliers to proactively, and objectively, communicate with you and your team.

Because—for most enterprises—supply chain resiliency starts and stops with you. And you should have the data and analytics tools that support all of those (ever-more-public) responsibilities, regardless of industry or geography, and beyond the day-to-day of on time/on spec fulfillment.

This is your moment. How will you make your mark?

Save time and resources by outsourcing your private company supplier financials to a company that has a track record of discretion and success—in over 150 countries.

Conduct accurate, comparable (and sharable) assessments with accurate scoring based on 73 efficiency and resilience ratios, 24 industry models, and decades of data from companies that have not only defaulted or filed for bankruptcy—but those that have survived and thrived.

Have meaningful conversations (internally and externally) with automated reporting that includes talking points in a relationship-centric dialogue, so you can ask the right questions—with or without financial expertise.

Connect the dots of spend analysis, natural disasters, cybersecurity, and financial health (private and public) with an advanced data and analytics platform that can integrate with other risk management systems like SAP Ariba, Resilinc, ProcessUnity, LevaData, EcoVadis, Coupa, Aravo, Riskonnect, Trust Your Supplier, IHS Markit KY3P, Lockpath, and RiskMethods.

And dissipate the fog; get early warning on public and private suppliers, alike, through predictive technology that’s purpose-built to have more meaningful business relationships—by mitigating and solving challenges before they turn into disruptions and dramatically impact or break the bottom line.

To learn more about how we can help support supply chain risk management in the pandemic era, visit our COVID-19 Resource Center or request a demo.

 

Topics: Supplier Risk Management, Risk Assessment