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Case Studies > Case Study Supply Chain Risk Management at Swiss Steel

Case Study Supply Chain Risk Management at Swiss Steel

Technology Category
  • Analytics & Modeling - Predictive Analytics
Applicable Industries
  • Metals
Applicable Functions
  • Procurement
  • Logistics & Transportation
  • Quality Assurance
Use Cases
  • Supply Chain Visibility
  • Predictive Maintenance
  • Real-Time Location System (RTLS)
Services
  • System Integration
  • Data Science Services
  • Training
The Challenge
Swiss Steel faced significant challenges in ensuring supply security due to various risks in the supply chain. Traditional methods of monitoring financial stability and country risk ratings were insufficient. The company needed a comprehensive approach to monitor all potential risks, including supplier, location, and country risks. Information procurement was cumbersome and time-intensive, leading to an unsatisfactory feeling concerning supply security.
About The Customer
Swiss Steel is a leading company in the steel manufacturing industry, known for its high-quality products and extensive global supply chain. The company has been proactive in addressing supply chain risks to ensure uninterrupted operations. With a focus on innovation and quality, Swiss Steel has implemented advanced risk management solutions to maintain its competitive edge in the market. The company operates on a global scale, dealing with numerous suppliers, subcontractors, and logistics hubs, making risk management a critical aspect of its operations.
The Solution
Swiss Steel implemented an automated, multidimensional risk management solution called 'Supply Risk Network' from riskmethods. This solution covers the entire supply chain, performing 'n-tier' modeling for all risk objects, including suppliers, subcontractors, locations, and countries. The system monitors various types of risks, such as compliance, quality, price fluctuations, natural disasters, strikes, and political risks. It generates information from numerous linked databases and searches over 300,000 online sources, offering a high degree of automation. The tool functions as both an early warning system and a means to assess latent risks, enabling Swiss Steel to take preventive actions and respond to crises in real-time.
Operational Impact
  • Swiss Steel now has a comprehensive view of risks across its entire supply chain, allowing for proactive risk management.
  • The automated system significantly reduces manual maintenance, freeing up resources for other critical tasks.
  • The early warning system provides real-time information on crises, enabling quick and appropriate responses.
Quantitative Benefit
  • The system offers almost 100% automation, reducing manual maintenance to nearly zero.
  • The tool searches over 300,000 online sources for risk information.

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