DHL Supply Watch launched
DHL has introduced “Supply Watch” – which uses machine learning and natural language processing to detect disruptions in a company’s supply base “before they happen”. Supply Watch is part of DHL’s Resilience360 supply chain risk management platform.
“We provide our customers with a solution that detects and mitigates potential supplier failures before they happen, allowing them to focus on early risk mitigation and auditing activities of their most relevant suppliers and third parties,” said Tobias Larsson, Head of Resilience360, DHL Customer Solutions & Innovation. “The insights and transparency customers gain through Supply Watch are another example of how digitalization can benefit end-to-end supply chain operations, through building resilient supply chains and enabling businesses to be more competitive.”
According to DHL: “Resilience360 Supply Watch monitors some 140 different risk categories including financial, environmental and social factors among risks resulting from crime, labor breaches, quality defects and supply chain perils such as shortages, capacity constraints and delays. Using advanced Machine Learning (ML) and Natural Language Processing (NLP) technologies, the adopted system analyzes data based on the monitoring of up to 30 million posts from more than 300,000 online and social media sources to detect potential supply chain disruptions.”
DHL said that the recent global ‘WannaCry’ ransomware attack was a good example of a situation in which its system could help to identify which suppliers may have reportedly been affected, and therefore allowing companies working with them to take appropriate precautions in their supply chain.