Monitoring and Mapping Strategies:

  • Research your raw materials and understand how your materials are made down to the ground. For example, if you are using acetone, know that cumene may be a tier one component, but ultimately all the materials used to make acetone come from crude oil, which comes from the ground. Click here for some examples
  • Collect supplier address data during year end pricing by product:
    • Headquarters
    • Shipping Points
    • Manufacturing Sites
    • Transportation hubs: Ports/Airports, etc...
    • Country of Origin
    • Sub-tier Supplier Address information
  • Monitor using google alerts/subscriptions; document in a way to monitor trends (excel/database)
    • Your materials and the upstream material
    • Your key suppliers and the top suppliers of the upstream materials
    • Your transportation routes and ports
    • Examples of terms to monitor:
      • Fire/Explosions
      • Production reductions
      • Natural Disasters: Earthquakes, Storms, Floods, etc..
      • Strikes (especially port/longshoremen strikes)
  • Develop analytics
    • Load the address information into a mapping program, such as google maps, to create a heat map. Note: some foreign address will need tweaking
    • Link the supplier part numbers to your products and revenue at risk
      Create location risk scores based on natural disasters
    • Determine which supplier products are single, sole and multi-sourced
  • Create a centralized location (War Room) for the information where information can be housed
  • ​

Geeky Stuff

​Cool stuff to take your risk program to the next level