How Dana masters supply chain risk with The riskmethods Solution

Technology Category

Analytics & Modeling - Predictive Analytics
Analytics & Modeling - Real Time Analytics
Application Infrastructure & Middleware - Data Exchange & Integration

Applicable Industries

Automotive

Applicable Functions

Logistics & Transportation
Procurement
Quality Assurance

Use Cases

Predictive Maintenance
Supply Chain Visibility

Services

Data Science Services
System Integration

The Challenge

Dana, a major supplier in the automotive industry, faced significant challenges in managing their complex supply chain. With over 100 manufacturing sites, thousands of supplier sites, and nearly 10,000 supply paths globally, Dana needed a more efficient way to gather information and respond to customer inquiries during supply chain disruptions. Additionally, they lacked sufficient data to monitor risks related to geographic regions, such as natural disasters or geopolitical events. This made it difficult for Dana to proactively manage risks and ensure the stability of their supply chain.

About The Customer

Dana is a world leader in highly-engineered solutions aimed at improving the efficiency, performance, and sustainability of powered vehicles and machinery. With a vision to be the global technology leader in efficient power conveyance and energy-management solutions, Dana helps its customers achieve their sustainability objectives. The company operates 145 major facilities, including 26 tech centers, employs 36,000 people across 33 countries, and serves 15,000 customers in 141 countries. Dana's global supply chain includes approximately 10,000 supply paths, making risk management a critical aspect of their operations.

The Solution

Dana implemented The riskmethods Solution to enhance their risk management capabilities. The solution's AI engine provides Dana with the necessary risk data to gain a comprehensive and accurate picture of the risks threatening their supply chain. This information allows Dana to identify risky suppliers and develop action plans in case a supplier is compromised. The riskmethods Solution also features a world map displayed in Dana's offices, raising awareness of supply chain risks across various departments, including procurement, quality, material planning, and logistics. Additionally, the solution has significantly reduced customer-response times regarding disruptions, making Dana a preferred partner for OEMs.

Operational Impact

The riskmethods Solution enabled Dana to quickly assess and communicate the impact of an earthquake in Mexico on their supply chain, reducing response time from several days to the same day.
Dana used The riskmethods Solution to evaluate the financial stability of suppliers in Turkey following currency devaluations, ensuring they were not caught off guard by potential supplier failures.
The solution allowed Dana to monitor pollution-related shutdowns in China, particularly affecting critical casting suppliers, ensuring they were aware of any disruptions that could impact their operations.

Quantitative Benefit

Reduced customer-response times from several days to the same day during supply chain disruptions.
Enabled quick assessment of the impact of natural disasters, such as earthquakes, on the supply chain.
Facilitated the evaluation of financial stability of suppliers in regions affected by currency fluctuations.