Be Alerted To Events That May Disrupt Your Supply Chain
The electronics industry manufacturing market has been devastated by chip shortages and supply chain disruptions in the past year. Manufacturers have been struggling to keep up with the increasing demand for electronic devices. However, supply chain impacting events, such as natural disasters, disease, and power outages have further impaired the production of chips and semiconductors.
SiliconExpert New Feature Release: Supply Chain “Event Alerts”
To help combat supply chain disruptions, we’ve launched a new supply chain feature “Event Alerts” as a part of our Supply Chain Solution. We monitor crucial events which have a critical and direct impact on electronics parts, then we send automatic notifications to customers who depend on the supply of those parts. We understand it’s critical to have the earliest news and information so customers can take suitable action to prevent any delays in product delivery.
How Do We Monitor Supply Chain?
Supply chain monitoring is the standard system of tracking several operations and activities in the supply chain—i.e., from the time enterprises order raw materials or components from suppliers, to the final products delivered to customers’ doorsteps. One of the ultimate goals of supply chain monitoring is to discover disruptions as early as possible to avoid adverse consequences on the whole enterprise operation.
“Event Alerts” has been developed to notify you of critical disruptions to your supply chain as early as possible without having to log in to the site. This tool analyzes the event information and identifies the impact either at the part number level or the manufacturer level, so you can take timely action to save your time and money.
SiliconExpert tracks various types of disruptive events that cover almost all events that could affect your business like “Factory Fires, Power Outages, Earthquakes, Political Situations, … etc.”. Users will have capabilities to identify/understand the events thru several features that refer to event details [Type, Date, Detailed Description, Source of Information, … etc.] and event impact details [Impact Analysis, Threat Level, and Impact Level]. Also, monitor the updates of the event impacts.
A real example event with its severity level is “The Naka factory fire, a Renesas semiconductor manufacturing Co. factory”, which has a direct impact on the semiconductors industry. It shows the updates on the event and its threat level from Critical to Moderate with its details.
Why Event Monitoring Becomes a Necessity?
Threats to supply chains are increasing all the time, from pandemics to geopolitical risks that spread across regions or even globally—i.e., natural disasters, strikes, sanctions, fires, or power outages are all examples of risks that can cause disruption. Such disruptions can hurt your company by triggering contractual penalties, production standstills, drops in sales, and reputational damage. In a world of increasing pressures and threats, event monitoring is becoming more important. Supply chains are commonly vulnerable to these events categories:
We’ve seen in recent months how COVID-19 has impacted global supply chains. The effects of global pandemics or other public health crises can have massive supply chain impacts because of the number of people, regions, and global companies affected which can upend normal operations at every stage of the production line.
- Natural Disasters
Earthquakes, floods, drought, and other natural hazards cause tens of thousands of deaths, hundreds of thousands of injuries, and billions of dollars in economic losses each year around the world. Even a localized disaster can have far-reaching implications in the supply chain depending on where it is.
A cybersecurity incident in the network of a supplier, or partner can be a major threat to an organization. Not only can it disrupt operations, but also expose their networks and sensitive data to the same threat. That’s why it’s crucial for enterprises to monitor their suppliers’ cybersecurity integrity and, at the same time, prepare for unexpected cyberthreats.
- Accidents or Explosions
Fires or explosions at supplier facilities may affect direct suppliers but can also be critical when occurring through the supply chain—in sub-tier suppliers, shipping, or other logistics service providers, for instance.
- Geopolitical Issues
Political situations, wars, civil unrest, and even the less dramatic issues can cause serious consequences for businesses, with major effects on customers.
SiliconExpert helps your organization to know about crucial disruptive events that have a critical/direct impact on the electronics industry early, know who or what could be impacted, and take quick action to minimize the impact of a critical event. Learn more about our supply chain module today.
If you’d like to request a demo, please contact us below!