Supply Chain Management: Spend Analysis
To Determine the Default Risk of Critical Suppliers Due to Covid-19
In times of Covid-19, procurement in particular is of critical importance when it comes to ensuring the legal capacity of a company. The Spend Analysis enables companies to view the essential information flows of their strategic procurement in a consolidated way and to derive optimization potentials. Detecon has developed a corona risk management approach in which companies obtain transparency within a very short time about the default risk of their suppliers of important product groups.
In a six-point approach, critical product groups are identified together with the client and the default risk of the suppliers is determined taking current and global developments into account. The results of the risk assessment are displayed in a dashboard. Basic data on the development of the corona pandemic can be updated quickly, thus enabling continuous monitoring. This makes it easier for companies to identify critical suppliers in order to develop contingency plans in a timely manner and check alternative suppliers and transport routes. If smart analytics and/or process mining tools such as Celonis are already in use in the company, these tools can also be integrated into risk reporting.