How SCIP Tools are Combating Supply Chain Volatility
Volatility has impacted supply chains globally. Businesses around the world are beginning to recognise the need to build resilience.
A portion of this shift has involved large-scale investment in supply chain visibility. However, risk is still threatening to cause disruption across the sector.
To help mitigate risk, the Supply Chain Intelligence Platform (SCIP) is launching new decision intelligence capabilities. These are named Optimize and Assure.
Navigating volatile supply chains
Supply chains around the world are increasingly faced with more data. They also face faster shifting conditions and the need to hold up under growing pressure.
Consequently, leaders are having to make changes to their operational strategy. Organisations are feeling the need to make high-stakes tradeoffs.
They face more scrutiny and less margin for error. With geopolitical conflicts and high-impact weather conditions, supply chains are undergoing high levels of turbulence.
Through smart supplier sourcing, transparent operations and investments into technology, global leaders are working to establish supply chain resilience. As consumer demand for more sustainable and responsible operations grow, this high level of transparency is needed.
Leaders are having to weigh up decisions while under pressure. They must ensure the choices are beneficial for the company in both short- and long-term scenarios.
To do this, they need the resources to make informed choices. They require confidence that there are no hidden costs or risks.
SCIP is aiming to improve decision quality for organisations with its two new decision capabilities, Optimize and Assure. These solutions are in place to clarify priorities, validate choices and build confidence in decision making.
“Trusted data is the starting point, not the finish line,” says Andy Kohm, Co-Founder and CEO of SCIP.
“Optimize and Assure turn that foundation into decision intelligence, surfacing risks before they materialise and recommending actions that balance margin, risk and speed, so leaders can move with confidence and defend their choices as the environment shifts.”
Implementing continuous decision intelligence
Optimize offers a continuous approach to supply chain decision making. It uses trusted data from sourcing, engineering, operations and sales.
It uses continuous monitoring of the supply chain in order to unveil opportunities to reduce risk and cost. It also aims to limit complexity before it can become an issue.
Once changes occur within the system at whatever level they may be at, Optimize can trace the upstream and downstream impact. This covers inventory, production, revenue and margin.
As a result, the organisation gains a single set of information to align business objectives, profitability and resilience.
Furthermore, Assure offers continuous risk mitigation and accountability across the supply chain. It monitors compliance, vendor and part-level risk across the enterprise.
All supply chain, sustainability, Scope 3 and net zero leaders should attend:
- Procurement and Supply Chain LIVE: The Net Zero Summit - QEII Centre, London, March 4-5
- Procurement and Supply Chain LIVE: The US Summit - Navy Pier, Chicago, April 21-22
Co-located with Sustainability LIVE, these events brings together CSCOs, CSOs and senior decision-makers at a moment when sustainability, supply chains and commercial performance are increasingly interconnected.
Tickets can be booked online today for The Net Zero Summit and The US Summit. Group discounts available.
Mitigating risk via compliance
As decisions are reviewed by boards, regulators, customers and partners, Assure screens actions and vendors against global policy.
Following the screening, it creates vendor risk profiles and scorecards. This identifies components with high-risk of disruption across operations.
Through this, it creates mitigation actions and reduces exposure. As a result, it strengthens governance and ensures organisations can justify their decisions, even amid changing conditions.
The decision-making capabilities make it easier for organisations to make decisions that they can confidently back up. They are formed through SCIP's work with customers and partners who are working in highly regulated environments.
This means they understand compliance demand. SCIP aims to bring real-time component intelligence into operational decision making to ensure full efficiency.
Lumentum, a leader in optical and photonic products, has acted as an early adopter to address risk, compliance complexity and sourcing agility.
It is establishing greater visibility in lifecycle risk and compliance exposure in order to make faster decisions. This is achieved through the unification of engineering, sourcing, procurement, sales and more.
As supply chain complexity continues to rise, SCIP's platform expansion demonstrates where organisations are changing strategies to prioritise resilience, confidence and decision quality.
The decision-making capabilities make it easier for organisations to make decisions that they can confidently back up. They are formed through SCIP's work with customers and partners who are working in highly regulated environments.
SCIP aims to bring real-time component intelligence into operational decision making to ensure full efficiency.
Lumentum, a leader in optical and photonic products, has acted as an early adopter to address risk, compliance complexity and sourcing agility.
It is establishing greater visibility in lifecycle risk and compliance exposure in order to make faster decisions. This is achieved through the unification of engineering, sourcing, procurement, sales and more.
