Risk-Optimized Procurement Solutions Overview

This document is a guide that outlines the concept of risk-optimized procurement and its application in managing supplier risks. It describes how Everstream Analytics leverages advanced AI, meteorology, and human intelligence to enhance procurement strategies. The guide details the features of the solution, including automated risk scoring, supplier collaboration, and scenario modeling, which help organizations proactively address potential disruptions in their supply chains. It emphasizes the importance of 24/7 global monitoring of incidents and predictive alerts to mitigate risks before they escalate. The document also explains how to achieve supplier sub-tier visibility and make informed sourcing decisions based on over 30 predictive risk indicators. Furthermore, it highlights the benefits of reducing inventory costs and optimizing procurement efficiency through data-driven decisions. The guide concludes by asserting the significance of adapting procurement practices to ensure resilience in an unpredictable business environment.