Get to know “RISKY” riskmethods’ digital assistant and our vision of the Future of Supply Chain Risk Management
by Ali Jawin
I’m not sure about you, but the most advanced thing I tend to do with my echo from Amazon goes along the lines of “Alexa, order more cat food.” Well, it’s a good thing I am not on the development team, because with a little bit of training, ‘Alexa’ becomes ‘RISKY.’ Who or what is RISKY? RISKY is a composite of several cutting-edge digital enablers such as machine learning algorithms that process enormous amounts of data, digitization of the supply chain and natural language processing that drives its voice recognition.
Altogether, these enablers give RISKY the ability to analyze and learn from huge amounts of Big Data collected by connected devices and remote sensors across global supply chains to allow users to vocally interact with RISKY and drive supply chain risk management through a touchless, conversational human-to-machine-to human interaction.
To see these digital enablers in action, watch our Co-Founder Rolf Zimmer demonstrate how RISKY identifies a potential risk event, assesses the impact, and puts mitigation plans into place by voice alone!
The example in this video is more than a vision of how supply chain risk management can potentially evolve. In fact, it highlights many of the solutions that our customers are using today such as:
- A digitized representation of their supply chains on riskmethods TV, an AppleTV application where users can gain transparency to their end-to-end supply chain network
- Mobile alerts for quick response to risk events
- Impact areas giving immediate transparency to all the nodes and the respective categories potentially affected by threats in the supply chain
- Impact scores derived from an automated analysis of parameters such as availability of alternative sources, total time to recover, the quantified business at risk, etc.
- Best practice action plans to mitigate risks according to specific risk indicators
- riskmethods’ API which allows integration to other systems (for example which track IoT sensor devices) to our flexible risk scorecard, fully configurable to our customer’s specific risk criteria
Want to meet RISKY? Click here to learn more about how, through digital enablers, riskmethods is making procurement and supply chain professionals much more effective and efficient than they have ever been before.