Supply Chain Discussion: Controlling Supply Chain Risk Through Visibility
According to Karin Stevens, who is executive vice president and chief marketing and product officer at Overhaul(which is a software company that provides a SaaS solution that gives customers a unified view of their supply chain ecosystem in real-time – so that they are able to design for the best outcomes while responding swiftly to avoid the worst). Risk management and compliance must be optimized for a successful supply chain. Nucleus agrees.
And as we know, collaboration with partners is an essential part of a company’s supply chain resiliency strategy, but it doesn’t end with Tier 1 or 2 partners, Stevens says. It must extend even further. Without that, the degree of visibility one needs in order to know exactly where products are in the supply chain, and what the risk management needs, are isn’t there.
“When I think about risk profile, I think about what is the risk tolerance of your product from a logistic standpoint. Obviously, understanding risk is about on-time deliveries and what delays and disruptions will look like. It’s also about anticipating disruptions and knowing what to do when those happen. But specifically with the risk management piece, I look at what the specific product is and understand whether there's a tolerance to certain spoilage events, temperature, deviations and so forth. Is the product of a particularly high value or interesting for the black market? So I look at that as a consideration as you're building out your risk profile and really thinking through what that means in your tolerance.” - Karin Stevins
Nucleus knows this. We design and manage customer's supply chain activities with our 4PL Supply Chain as a Service solution. Not all customers will have the same solution.
This process includes crafting solutions for collaborating with partners to get the right operations, visibility and service-level agreements that can support flagging for risky situations.
As she states in this interview. “It’s about working in collaboration with suppliers, because then you can get the right data to inform and make the right business decisions across the entire ecosystem.”