World News: 15:30 GMT Tuesday 3rd December 2019. [Resilience360 via Globe Newswire via SPi World News]
TROISDORF, Germany, Dec. 03, 2019 (GLOBE NEWSWIRE) -- Resilience360 has released the results of a customer survey launched to assess the impact of the U.S.-China trade war for companies with global manufacturing networks. Among other findings, the results revealed that two-thirds (66%) of the nearly 300 customer respondents have been impacted by the business disruptions and significant operational challenges presented to them by the U.S.-China trade war.
Resilience360 surveyed global customers from disparate industries including life sciences, technology, automotive, mobility, engineering, manufacturing, consumer, retail, energy, chemicals, aerospace, and transportation.
“The survey confirms what many have suspected—the volatility of the U.S.-China trade war has brought about considerable uncertainty for companies with global manufacturing networks,” said Tobias Larsson, Chief Executive Officer, Resilience360. “Successive tariff escalations, regulatory burdens, and other non-tariff barriers have raised serious questions about how companies can adapt their supply chains to prepare for commercial risks amid escalating trade tensions.”
“This research provides our customers the ability to benchmark their own risk planning efforts with industry peers, assess current contingency plans, adapt supply chain networks where needed and ultimately—protect the bottom line as global trade tensions continue to persist,” he continued.
The U.S.-China trade war is a high-profile example of the type of supply chain disruption that Resilience360 helps companies monitor, mitigate and make contingency plans against. The supply chain risk management company predicts, monitors, and mitigates disruptions both man-made and natural, including hurricanes, cyberattacks, labor strikes, protests and a rapidly changing regulatory environment.
Key findings from the study show that:
Resilience360’s risk mitigation tools provide businesses with the information they need for supply chain visualization, trade compliance and to help provide near real time monitoring of incidents.
Resilience360 builds a model of a customer's extended supply chain based on the company's product bills of materials and supply chain partners, and then accesses millions of open source media sites to provide an accurate assessment of potentially disruptive events that can impact the supply chain. Machine learning is used to detect and classify risk events, monitoring millions of data points every day against risk-related conversations that are taking place across a given supplier base. Analysts are used to help verify that events truly are material and to improve the machine learning engine. The platform provides a comprehensive set of tools that evaluate and monitor supply chain risks with potential resolutions, which are then automatically routed to customers.
Media Contact:Will HarawayBackbeat Marketing404.593.8320
Globe Newswire: 15:30 GMT Tuesday 3rd December 2019
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