Closely monitoring each link in your supply chain - from the raw materials to the finished product - means you can spot oncoming supply chain disruptions faster and therefore give your organization more time to react.
However mapping your entire supply chain and overseeing the disruptions is far from simple. There may be several deeper tiers to your supply chain that you didn’t even know you relied on. Thankfully, this monitoring has become a lot easier due to specific supply chain monitoring software.
This type of software generally comes with these features to automate much of the manual monitoring and calculations required to have a full overview of supply chain risk:
- Supply chain mapping to monitor not only tier one and tier two suppliers, but the entire supply chain
- 24/7 supplier monitoring which alerts you to disruptions that may affect your suppliers
- Risk calculation of disruptive events with the potential revenue lost
Below, we’ve listed some examples of this supply chain monitoring software, which might be useful for you to gain more visibility into your supply chain and help to build on your strategy toward supply chain resilience.
Resilinc
Resilinc allows you to map and visualize multiple tiers of the global supply chains across industries, get alerted on disruptive events and their status, and provides you with the option to contact those potentially problematic suppliers directly.
Features include:
- 24/7 monitoring of suppliers and sites
- Multi-tier mapping
- Benchmarking against industry players/peers
- Ability to quantify revenue impact at a supplier, site, part and product level
- Mitigation progress tracking and follow up
- Risk scores configuration
- Insight into critical failure points
- Mobile notifications during disruptive events
Sourcemap
Sourcemap’s supply chain visualization engine makes sense of incredibly big datasets covering every tier from raw material to distribution, every SKU, every single transaction, for complete assurance.
Features include:
- Any supplier, any site, any material can be found at the click of a button
- Supply chain mapping and heatmaps
- Create unlimited scenarios, visualize any KPI’s
- Automatic risk scores calculations
- Supplier compliance monitoring
DHL Resilience360
DHL Resilience 360 is a supply chain risk management software platform that helps businesses predict, assess and mitigate the risk of supply chain disruptions. The software provides businesses with the information they need for supply chain visualization, trade compliance and to help provide near real time monitoring of incidents that have the capability to disrupt supply chains.
Features include:
- Automatic alerts to potential disruptive events
- Global supply chain mapping
- Potential mitigation strategies
- Risk calculation determined on the criticality of the parts, the availability of alternative sources, and inventories or buffer stocks to bridge supply disruptions
Riskmethods
riskmethods helps to proactively identify, analyze and mitigate all types of supply chain risk in order to turn risk into opportunity.
Features include:
- 24/7 risk monitoring, leveraging AI to determine which risks are relevant to your business
- Early warning signals of disruptions and industry trends
- Alerts gaps for critical suppliers without alternative suppliers
- Risk scoring and interactive heatmap
- Risk mitigation plans
- Team collaboration tools
Conclusion
There are various tools available to help you monitor and be aware of oncoming supply disruptions. However, increasing visibility in your supply chain is one step toward developing a supply chain resilience strategy. At the same time, it’s essential to increase your organization’s autonomy and develop flexibility in order to successfully mitigate disruption.
You can find out more about these strategies in our recent report Supply Chain Resilience Report 2020: Industry Trends and Supply Chain Strategy for Manufacturing.
