'You Need Data & Analytics For Resilience In Supply Chain'

Amidst of many macro trends unfolding and impacting the economy on a global level, Indian has extensively contributed in the development of the supply chain sector in various ways. "If you want resiliency, you need data and analytics behind it. To make a better decision, you need a better risk assessment and interconnectedness of these," according to Benny Kesuma, Head – Corporate Solutions (APAC and ME), Moody’s Analytics.

Kesuma said that if you see a portfolio supplier, you need to know how to engage them in the short term, in the medium term and in the term.

“In this you know there will be suppliers, it depends on the company and location. Where we put everything, we called integrated risk assessment,” he said.

He also said that fundamentally financial help assessment is a key indicator to judge whether your supplier is going to be weak or not and if your supplier is weak, it could impact your delivery, performance and innovation. Another point is the regulatory risk to ensure sanctions, theft, anti-bribaery and corruption.

Apart from all, he said thatentity data is essentially is mainly focus on what we have information about your suppliers. We have done well and we have over 400 million companies. Europe has more than 126 million companies and North America has over 70 million.

On ESG and physical risk, he said that when we about physical risk, lack of data, which comes under hidden risk, emerging regulations and complex value chains are also one of the most significant things.

We also come with ESG Metrix and we call it ESG scores. Under this, we understand which suppliers need to engage more than others. We call it modelling and predictor scores in order to provide you with data that you need, he added.

Physical risk score combined all and makes you able to map your company not on the level of entity corporate level but entity asset level.

In Supply chain resilience, he said, we try to put risks in all types of data like cyclones, strikes, disease, geopolitical tensions, ships and others and on the basis of it, you can put all data in a single.

The whole idea is the collection of data that will tell you a better understanding of risk, according to him