In the days before Candy Crush and our daily Wordle, there was Minesweeper. We’ve all played, right? It was the clickable grid with hidden mines scattered throughout and by using logic, you determined where the flag should be placed without detonating any mines.
Why are we talking about a game from the 90’s? Let’s imagine your supply chain as a minefield. RapidRatings acts as a “minesweeper”, flagging the areas of risk surrounding the “landmines”, so you can navigate safely. While we also use logic to flag risks, we use predictive analytics to identify and mitigate risk, and devise strategies for surviving interruptions in supply chains.
Even though there has always been risk in supply chains, the pandemic exposed them as volatile “minefields” that companies must successfully navigate. Some macroeconomic “landmines” lurking in your supply chain includes rising interest rates, rising labor and capital costs. A volatile economy has been further exacerbated by Russia’s invasion of Ukraine and events in the U.S., such as a drought-stricken Mississippi River, mass truck driver shortages, a potential rail line strike, and most recently, the diesel shortage.
Flagging those landmines can be a difficult task on your own. Evaluating each supplier’s operational capacity and risk and finding a way to minimize the risk without interfering with your day-to-day operations, is time and resource consuming. Fortunately, RapidRatings flags the risks, alerts you to potential “landmines” in your supply chain, and gives you the tools you need to protect your supply chain. Because you cannot measure what you cannot see.
How does RapidRatings do it?
We simplify the obtainment of necessary financial data to provide an accurate financial assessment. Our predictive and accurate analytics enable us to then use this data to assess the global public and private companies that touch your business.
Utilizing our best-in-class resources, you will be able to take immediate action when potential disruptions are detected:
- Financial Health Ratings (FHR) is the gateway to understanding a company’s underlying strengths and weaknesses:
The FHR is able to project reliable forecasts of the 12-month and long-term outlooks of the companies that touch your business and predict probabilities of default with proven, high accuracy.
- Actionable and easy-to-read reports enable you to mitigate supplier risk and monitor suppliers:
RapidRatings generates over 15 unique analytic reports to fully provide the insight you need to understand the potential risks of a third party. Our multiple report options help you evaluate the financial health of your third parties – understand the individual company risk, portfolio-level risk, and macro factors for evaluating entire sectors and countries.
- Industry-leading customer service provides expertise in building a supplier risk management strategy and plan:
Getting started with the process can be overwhelming if you do not know whom to involve, where to begin, or what to do with the information you receive. We will partner with you to create simple and effective action plans to ensure effortless and successful onboarding.
In today’s economy, one of the most important strategies for surviving supply chain disruptions is to understand the financial risks faced by both you and your suppliers. If you have a clear understanding of what you’re up against, you will be able to make informed and unhurried decisions that may save your business.
Our solution gives you full transparency on your supplier’s financial health so you can protect your supply chain. Because you cannot measure what you cannot see.
Start managing your supply chain minefield today.