RapidRatings and Resilinc Corporation Partner to Address Common Supply Chain Risks
How quickly companies can rebound from weather problems and other disruptions, as well as how well they deliver quality products on time, are all elements of resilient supply chains that Financial Health informs
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RapidRatings, is a leader in Financial Health Analytics, and Resilinc Corporation is one of the world’s leading supply chain risk management solution providers. Executives from both companies told SCMR in an interview that the integration would proceed smoothly.
We’ve been working with Resilinc as informal partners for quite some time,” says RapidRatings’ CEO, James Gellert. “We have common clients, collaborate well and respect their team highly. The formalization of our partnership is in recognition of the importance of supply chain resiliency.”
He added that companies across industries, and financial institutions too, have embraced supply chain and third party risk management as core needs. These needs are not just for avoiding a weak supplier, but about building the most resilient supply chain possible.
“Financial Health is a critical part of identifying problems in suppliers and aligning with the strongest possible ones,” he says. “We’ve also proven that Financial Health is a leading indicator of operational performance like quality control and delivery logistics.”
How quickly companies can rebound from weather problems and other disruptions, as well as how well they deliver quality products on time, are all elements of resilient supply chains that Financial Health informs, observed Gellert.
“Resilinc is an excellent partner for us to jointly deliver value to clients.”
Bindiya Vakil, CEO, Resilinc, noted that her company has been working with Rapid Ratings and their mutual customers for a long time.
“The timing of this announcement coincides with Resiliency 2018 - an annual event where hundreds of supply chain experts meet to exchange new processes and best practices,” she said. “Customers are increasingly seeking completeness in their supply chain support services. Creating a direct connection between Rapid Ratings and Resilinc is a natural evolution and we are looking forward to an expanded relationship.”
RapidRatings provides analysis of the financial health of public and global private companies. The Financial Health System provides a predictive view of the financial stability, operating efficiency, and probability of default for suppliers in the near- and long-term (12 months to 10 years).
Integration of RapidRatings’ FHR via API with the Resilinc WAVZ platform is designed to enable mutual customers to gain a single unified view of global multi-tier supply chain risk, down to the supplier, site, product, and part level, leveraging the combined resources of Resilinc patented technology with RapidRatings’ FHR scores.
Ideally, the integration will blend financial risk with deep supply chain insights, enabling a common place to address questions such as:
- Within the top 10 revenue-generating products, which supplier sites pose the highest risk, including resiliency risk, financial risk, and location risk (geopolitical, natural disaster, macroeconomic)?
- Which critical parts are being supplied by the riskiest sub-tier suppliers?
- Which suppliers have the ability to sustain a disruptive incident and maintain resilient operations? Are any sole sourced parts being supplied by the riskiest suppliers?
About the AuthorPatrick Burnson, Executive Editor Patrick Burnson is executive editor for Logistics Management and Supply Chain Management Review magazines and web sites. Patrick is a widely-published writer and editor who has spent most of his career covering international trade, global logistics, and supply chain management. He lives and works in San Francisco, providing readers with a Pacific Rim perspective on industry trends and forecasts. You can reach him directly at [email protected]
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