The rapid globalization of supply chains has made them vulnerable to disruptions such as economic unrest, demand fluctuations, or natural or man-made disasters with potentially damaging long- and short-term impacts on the business.
Enterprises need resilient supply chains to minimize the negative impacts of disruptions on revenues, costs, and customers. Not surprisingly, understanding and effectively managing supply chain risk is a key capability for building and maintaining resilient supply chains.
Approach to Risk Management
Modernized Business Solutions’ supply chain risk management services enable clients to proactively assess, prioritize, mitigate and manage risk for improved business results. Our supply chain expertise help you map your supply networks, identify risks, assess potential impacts and prepare supply chain contingency plans well in advance to mitigate risks and ensure business continuity.
Extensive Risk Management Portfolio
Keeping supply chain optimization at the core, MBS embeds supply chain risk assessment and management into your supply chain strategy. Our focus on supply chain risk spans multiple dimensions, including geographical, environmental, industry, reputational, financial and operational. We further segment these into short-term, medium-term and long-term risks to better prioritize action plans. We use our proprietary Supply Chain Risk Management Model to aggregate risks across the supply chain and catalog mitigation strategies for effectively addressing the identified risks.
The visual output allows organizations to see their risk map and facilitate cross-functional dialogue to mitigate the risks.
Timely and accurate identification of risks is critical to ensure supply chain security. MBS utilizes input from multiple client data sources (e.g. interviews, spend data, inventory levels, supplier scorecards, contract data, supplier audit data and surveys) and external sources (e.g. supplier vetting, supplier financial performance, social media feeds, news articles and trend forecasts) to ensure that you are always a step ahead.
Count on Modernized Business Solutions
MBS’ comprehensive approach toward supply chain risk management ensures that companies implement the right level of structure, accuracy and consistency in managing supply chain risk across multiple business units, functions and regions.
Our unique combination of robust processes, data feeds, augmented artificial intelligence, predictive analytics and reporting frameworks helps enterprises proactively identify and mitigate supply chain risk.