Supply Chain Managers Gain New Tool to Address Weather-related Risk
November 11, 2013
Stormpulse, Inc., a weather intelligence company, announced it will expand its focus beyond the tracking of weather related business threats with the launch of “Riskpulse, risk management software as a service (Saas) package.
According to the company, Riskpulse gathers, elevates and visualizes external risk data into one platform, thereby giving shippers the ability to adjust to changing conditions quickly and make critical decisions “on the fly.”
“After seven years of focusing on weather, we recognized that there are many other external factors that affect a company’s supply chain and every day operations,” said Matt Wensing, Stormpulse co-founder and chief executive officer. “We created Riskpulse to help companies struggling with the ‘Big Data’ problem of finding meaning in the numbers. By giving them a simple platform to visualize and interpret the world’s most threatening data in relationship to the things they care about, they can make smart decisions and uncover new opportunities.”
In an interview with SCMR, Wensing says his company is partnering with insurance and third-party logistics providers to address specific verticals.
“Automotive parts and specialized medical devices are especially vulnerable supply chains,” he says. “While many of our existing customers are from the Fortune 500, we are mostly leveraged with mid-market clients.”
Wensing adds that this new offering will enable businesses to identify, quantify, and adapt to external risks including earthquakes, crime, and travel alerts.
With real-time tracking, businesses can visualize their moving assets in relation to threats in a consumable map format. Riskpulse interprets and identifies the most pressing issues and quantifies the data with a unique risk score. The platform is entirely customized to a business’s unique risk profile and emphasizes the opportunities created by uncontrollable threats.
“Using Stormpulse over the past several years has allowed us to consistently stay a step ahead of catastrophic weather events without ever breaking our stride,” says Ravi Singhvi, Risk Placement Services, Inc. vice president of analytics and Stormpulse customer. “Stormpulse keeps us focused on our business in the heat of the moment, so we are able to make highly rewarding decisions; we imagine their expanded focus will translate to expanded opportunities for RPI.”
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