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Understanding Supply Chain Risks During These Volatile Times

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by Beroe Inc
6 May 2024

Understanding Supply Chain Risks During These Volatile Times

Modern supply chains are intricate networks spanning across the globe, connecting businesses to a vast web of suppliers, manufacturers, and logistics providers. While this interconnectedness offers many benefits, it also exposes companies to a complex range of potential risks. In the current extremely volatile climate of  geopolitical instability and natural disasters to supplier financial issues and transportation disruptions, there are multiple factors, often unpredictable, that can impact supply chain continuity.

To navigate this complex landscape, organizations need comprehensive risk management strategies that go beyond traditional approaches and provide deeper visibility into their supply networks. Beroe, a leading provider of procurement intelligence and analytics, offers a unique and effective approach to understanding and mitigating supply chain risks.

Limitations of Traditional Risk Management Approaches

Traditional methods of supply chain risk management often rely on supplier surveys and analysis of limited trade data. While these approaches can provide some insights, they often fall short of offering a comprehensive understanding of the risks embedded within complex supply networks.

Supplier surveys can be subjective and may not capture the full extent of potential risks, especially those beyond tier one suppliers. Reliance on trade data alone often leaves blind spots, as it fails to account for domestic transactions and the intricate web of material flows within a supply chain.

Beroe’s Material Level Risk Monitoring and Analysis: A Deeper Dive

Beroe takes a different approach to supply chain risk management, focusing on monitoring and analysis at the material level. Instead of relying solely on supplier provided information or limited trade data, Beroe maps out the entire supply chain for a given set of materials, tracing their origin from raw materials extraction to final product assembly. This granular approach allows for the identification of potential risk factors at each stage of the supply chain, including geopolitical risks, natural disaster vulnerabilities, infrastructure limitations, and supplier concentration risks.

By understanding the complex journey of materials, Beroe helps procurement teams uncover hidden risks and single points of failure that may not be apparent through traditional methods. This deep level of visibility allows organizations to make more informed sourcing decisions, develop robust risk mitigation strategies, and build greater resilience into their supply chains.

Proactive Risk Mitigation and Building Resilience

Beroe’s material level risk monitoring and analysis goes beyond simply identifying potential threats. Our solution provides actionable insights to help procurement teams proactively mitigate risks and build resilience. Risk scoring systems and early warning alerts provide timely notifications of potential disruptions, allowing companies to take preventive action and secure alternative sources of supply. Scenario planning and modeling capabilities enable procurement professionals to assess the potential impact of various risk factors and develop contingency plans to ensure business continuity.

Beroe: Your Partner in Supply Chain Risk Management

With decades of expertise in procurement intelligence and supply chain risk management, Beroe offers a comprehensive suite of solutions to help organizations navigate the complexities of today’s globalized economy. Our risk assessment platform, supply chain mapping tools, real time risk monitoring systems, and expert consulting services empower procurement teams with the foresight required to make informed decisions and build more resilient supply chains. By partnering with Beroe, organizations can gain a deeper understanding of their supply chain risks, proactively mitigate potential disruptions, and ensure business continuity in an increasingly volatile world.

Take Control of Your Supply Chain Risks

Effective supply chain risk management is a necessity for businesses operating in today’s interconnected and unpredictable world. Beroe’s unique material level approach to risk analysis provides the visibility and insights needed to identify, assess, and mitigate potential

disruptions. Partner with Beroe today and build a more resilient and secure supply chain for your organization.

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