What SCIP's Platform Expansions Mean for Risk Mitigation

Volatility has reared its head in supply chains in recent years, with businesses around the world beginning to recognise the need to build resilience. 

Part of this has been the large-scale investment in supply chain visibility, but risk is still threatening to cause disruption.

To help mitigate risk, the Supply Chain Intelligence Platform (SCIP) is launching new decision intelligence capabilities, Optimize and Assure.

Facing volatile supply chains

As supply chains around the world are increasingly faced with more data, faster shifting conditions and the need to hold up under growing pressure, leaders are having to make changes to their operational strategy. Organisations are feeling the need to make high-stakes tradeoffs, with more scrutiny and less margin for error.

With the ongoing geopolitical conflicts and high-impact weather conditions, supply chains are undergoing high levels of turbulence every day. 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 to ensure the choices are beneficial for the company in both short and long-term. To do this, they need the resources to make informed choices, with 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.”

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.

Expanded solutions

Optimize
Optimize offers a continuous approach to supply chain decision making, using 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, as well as 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, across inventory, production, revenue and margin. As a result, the organisation gains a single set of information to align business objectives, profitability and resilience.

Assure
Assure offers continuous risk mitigation and accountability across the supply chain, monitoring compliance, vendor and part-level risk across the enterprise. 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, identifying 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.

Platform use cases

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, meaning 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, 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 in order to prioritise resilience, confidence and decision quality.