Risk management across continents and chronologies.
In today’s interconnected global economy, supply chains are vulnerable to a myriad of risks. From natural disasters to geopolitical tensions, disruptions can have far-reaching consequences. To build resilient supply chains, we need innovative approaches that go beyond traditional risk management.
TransVoyant examines how events unfold across both space and time. It considers the geographical distribution of supply chain nodes and their temporal dynamics. By integrating these dimensions, we gain deeper insights into risk exposure and can proactively mitigate threats.
Supply chain attacks
633%
Supply chain attacks involving malicious 3rd-party components increased 633% over the past year, totaling over 88,000 known instances.
Supply chain breaches
26%
The average number of supply chain breaches that negatively impact organizations increased by 26% from 2022 to 2023.
Disruptions and resilience
85%
85% of surveyed global supply chains experienced at least one disruption in the past 12 months.
Unthreading the interdependencies of risk.
Strategic risk.
The threat posed by shifts in market dynamics, competitive pressures, or technological advancements.
Consider a sudden change in consumer preferences impacting demand for a product.
How well-prepared is your organization to adapt to market shifts?
Operational risk.
Risks from equipment breakdowns, supply shortages, or workforce disruptions.
Imagine machinery in your factory breaking down and halting production.
Is your supply chain agile enough to handle unexpected challenges?
Financial risk.
Risks related to financial stability, interest rate fluctuations, or non-paying customers.
Think about a supplier bankruptcy disrupting your supply chain.
How robust are your financial risk management practices?
Regulatory risk.
Risks arising from changes in laws, regulations, or industry standards.
Assume that new environmental regulations affect production processes.
Are you aware of the latest compliance requirements in your industry?
Security risk.
Threats related to data breaches, cyberattacks, or physical security vulnerabilities.
Imagine your cargo is hijacked, resulting in the loss of millions of dollars’ worth of inventory.
How well-protected are your digital and physical assets?
Reputational risk.
Risks impacting your brand image, customer trust, and stakeholder perception.
Negative publicity due to unethical supplier practices.
How resilient is your reputation in the face of potential crises?
The 5 layers of risk assessment.
Risk identification
Identify potential risks across your supply chain, from suppliers to logistics partners.
Risk analysis
Evaluate the likelihood and impact of each risk. Prioritize based on severity.
Risk evaluation
Make informed decisions about managing and tolerating risks.
Risk mitigation
Implement controls and measures to reduce risk exposure.
Continuous monitoring and review
Regularly assess and adapt your risk management strategies.
Building resilience.
Risk detection and prediction.
Response agility.
When a crisis hits, our solution analyzes how disruptions propagate geographically to reroute shipments, allocate resources and activate contingency plans effectively.
Resilience enhancement.
By mapping supply chain nodes and their dependencies, we uncover vulnerabilities and remedy by diversifying sourcing locations, creating redundancy and optimizing logistics routes.
Consequence is not as simple as it sounds.
We’d love to chat and understand the consequences of risks and threats your organization is up against.
Know what you don’t know.
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