A predictive monitoring of incoming supply for mitigating the risks
Objective: Develop a solution to better predict supplier outages, allowing firms to avoid production disruption by pre-ordering at-risk materials or ordering from alternative suppliers.
Key Challenges Addressed:
How do we address your challenges: The solution utilizes a dynamically updated Stock out Possibility Score (SPS) to assess the risk of purchased goods using a) Item and supplier attributes (Based on whether the item is locally sourced or not, Predicted suppliers’ performance, Suppliers’ risk score (financial, geopolitical, operational, number of suppliers, and current inventory levels) b) Dynamic market risk (Based on external data related to weather, regulatory changes, network disruption etc.) The solution will provide timely alerts and recommendations for items which are predicted to be at risk based on the predictions
Pilot outcome: An intuitive decision support system that provides a holistic view of all purchased items, suppliers and their associated risk
Implementation Plan: The break-up of the implementation plan is as below:
This implementation uses the following native Azure components: