riskmethods is one of the first firms to bring commercial ready-to-use solutions addressing supply chain risk management (SCRM) needs (at the enterprise level) to market. The company's founders and management team come from the supplier lifecycle management (SLM) and master data management (MDM) space, and are now applying their experience to global supply chain risk applications.
Conceptually, the company builds a multi-relationship model of a client's various suppliers (and sub-suppliers, etc.) and layers in information from thousands of sources globally – delivering visibility and insights into risk exposure throughout an extended supply chain. Data is updated in near real time, and dynamically helps clients identify supply at risk as risk events take place. The solution can also be used to model what-if scenarios.
The visibility and the ability to share the information freely among a company's stakeholders is a tremendous benefit to businesses driving not only risk management initiatives but also supports the inevitable supply chain and procurement transformation efforts that ensue.
Spend Matters thinks that any firm with a global supply base footprint will find that a SCRM solution is an indispensable tool, not only for the ongoing insights and alerts it provides, but also the unprecedented visibility that will inspire and drive risk mitigation efforts in the organization.