For better profits with minimal loss due to potential risk, supply chain risk management software proves to be highly useful. The software helps companies manage various supply chain steps, which are comprised of dozens of specific tasks. It analyses the information entered and makes a forecast on the company’s supply chain. It also helps in keeping track of various steps, including demand, supply, manufacturing progress, logistics and distribution. The software help businesses identify, analyse, supervise and respond to the various risks conditions that can harm the business. In order to reduce risks as well to protect their investment, companies are advised to implement appropriate supply chain risk management software.
SAP is offering an end-to-end solution for food and beverage manufacturers. It starts with recipe formula and includes the ordering of raw materials, production, sales and distribution, and recall management. This helps to manage safety throughout the organisation in order to minimise risk while reducing the cost.
New types of web-based content solutions have emerged in this area. These solutions, which can help companies to detect potential supply disruptions, recently gained attention. Panjiva is such a platform for global trade professionals with customs information. Information are available from different sources: respectively, credit reports, blacklists, and customs data and are available on a common platform. This prevents the risk of an insolvent supplier.
Connectivity comes into play by looking at Global Trade Management. Many different parties are involved and need to communicate and collaborate with one another, such as carriers, customs agencies, freight forwarders, logistics service providers, and regulatory agencies. Losing or not providing the right information can take time and create errors. The Descartes Systems Group offers connectivity solutions with data quality abilities to ensure that required data is entered and in the correct format. Although Descartes has a large global network, they completed its acqusition of Porthus earlier this year to increase its connectivity to several European customs.