Product Quick Facts
riskmethods is a cloud-based enterprise risk management software that helps users identify risk, assess impact, and plan for preventable disruptions. Users can view supplier, country, and transportation risk in real-time, utilize out-of-the-box risk scorecard, automate email and mobile app alerts, identify critical risk objects, and integrated risk intelligence data.
riskmethods radar monitors risks along the entire supply chain – from sub-suppliers via logistics hubs, to tier one suppliers and production sites, to customers. All types of risks are taken into account: supplier risks (e.g. compliance, financial stability, quality), location risks (e.g. strikes, natural disasters), country risks (e.g. political risks, sanctions), or category-specific risk (e.g. import regulations). In the case of a risk event, the early warning system sends alerts via email or as a push notification to user mobile devices.
riskmethods analyzes impact to provide assessment support of a risk event. Central questions (relating to replacement period, degree of substitutability, availability of alternative suppliers, etc.) are defined, and the impact on sales, margins or EBIT, are measured. Impact assessment is a prerequisite for appropriate preventive and reactive measures, and the basis for developing a risk management and portfolio strategy. Planning tools help users control risks with a set of defined steps. These risk prevention and crisis response measures are then grouped according to topics that correspond to the risk indicators. Depending on whether the risk situation is critical/high or non-critical/low, preventive actions with appropriate outcomes are derived.
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(Last updated on 04/28/2017 by Jonathan Darcy)