Mitigating Unexpected and Systematic Risk
Gary Neights, Elemica’s Senior Director, Product Management’s article “Mitigating Unexpected and Systematic Risk” was featured in Supply and Demand Chain Executive Magazine’s March edition.
Understanding and assessing systematic risk can be a challenge, especially when hundreds or thousands of products are in scope. For example, a supplier may use different carriers for the same route. If all carriers have the same on-time performance, that component of risk is low. Systems to reality check orders and shipments based on historic data supports immediate detection and rectification of on-time and in full (OTIF) issues. This will increase customer satisfaction, reduce error handling costs, and help you differentiate from competitors. Unexpected risk management systems can associate events as they occur to specific plants, lanes, orders, or shipments to help you understand the impact (or non-impact) on your operations. End-to-end visibility, reality checks, and risk management let you monitor and adjust your supply chains in real-time.
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