Philadelphia, PA - [May 2, 2023] - PSA BDP, a leading provider of globally integrated and port-centric supply chain, transportation, and logistics solutions, has announced the launch of Risk Monitor, a new digital product designed to provide shippers and consignees with proactive risk monitoring and insight to prepare for and manage the challenges and potential disruptions in today’s complex world of international trade.
Risk Monitor is an add-on feature to Smart Navigator, a digital platform that provides real-time supply chain visibility to customers through sophisticated data analysis. Using proprietary technology developed by PSA BDP, Risk Monitor empowers customers to establish, evaluate, and view a spectrum of 50+ common supply chain disruptions - both naturally occurring (inclement weather, pandemics, earthquakes), as well as man-made risks (strikes, geo-political tensions), before they occur, allowing for proactive planning and mitigation measures to be implemented. As a result, users can lessen risks, reduce costs, overcome inventory and production delays, while improving the customer service experience.
Utilizing innovative in-house developed technologies which aggregate data sources, understand risks and map to a company’s specific circumstance, Risk Monitor provides immediate real-time visibility for customers to access data relevant to any supply chain threats that are verifiably substantiated or predicted by PSA BDP. Using an enhanced demand model, data types that are constantly monitored include weather events, port congestion, vessel events, geo-political events, and security compromises or breaches, while assets such as shipments, containers, production plants, and suppliers are instantaneously cross-checked and critically assessed by the risk model to accurately identify factors that are likely to affect customers' supply chains.
Accounting for multifaceted disruptions and bottlenecks in the complex, modern supply chain environment is key to mitigate losses, maintain a healthy supply chain flow, and improve processes that in turn lead to significant bottom line outcomes. Risk Monitor’s advanced algorithms, which offer customization features – including alerts that warn of any impending or prospective disruptions, delivers proactive, real-time tracking into the location and shipping status of goods and cargo en route from its origin to its final destination. These actionable insights allow shippers to make informed decisions and take meaningful steps to protect their supply chain operations whenever possible.
“Through our conversations with customers, we know that they are seeking more opportunities for better control and enhanced visibility in their supply chains,” said Ghim Siew Ho, CEO – Products. “To support their needs, PSA BDP is focused on developing digital applications that provide real-time, streamlined, and comprehensive data so that our customers can enjoy better visibility and achieve a more resilient, agile, and sustainable supply chain. Risk Monitor will augment our suite of services available on Smart Navigator, such as enhanced visibility, predictive ETA, and alerts and exception management.”
“In today’s market, proactive visibility and planning to potential disruptions are paramount to an integrated and connected supply chain,” said Neil Wheeldon, Chief Digital and Product Strategy Officer. “Risk Monitor allows customers to gain a holistic view of their supply chain to calculate risk and review detailed, real-time data to minimize impact whilst identifying inefficiencies before they become costly. PSA BDP recognizes the criticality of these technological investments for demand-driven planning to benefit our customers and looks forward to delivering enhanced decision-making and planning capabilities through Risk Monitor.”