Covid-19 has been yet another wakeup call to companies to mitigate their supply chain risk. However, Covid-19, as big as it has been, is not an exception. According to Mackenzie & Co., in the last several years, global disruptions have caused at least one company in twenty to suffer a supply-chain disruption costing at least $100 million.
We have had SARS, MERS, Dock worker Strikes, Hurricanes, Asian floods and earthquakes as well as volcanic eruptions. More is inevitable. Besides, there are more frequent events such as surge in demand, capacity issues with contract manufacturers and supply lines or geopolitical events such as tariffs.
At Adexa, we have designed methodologies and systems that can predict potential issues in future and what could be causing them and how we can avoid unnecessary vulnerabilities. These methodologies largely depend on AI/ML techniques to show the extent of risk, what the potential causes are and how they can be mitigated. For more information and additional whitepapers on this topic go to Supply Chain Risk Management.