The Road to Resilience
There is no better opportunity to innovate than in a crisis.
Worldwide disasters, such as COVID-19, have caused extensive global impact upon supply chain processes beyond companies, with a third of disruptions in 2019 occurring at tier 2 suppliers and below1. Other supply chain disruptions today come in the form of unexpected competition, constant changes in market conditions and even mounting changes in demand factors. Making supply chains more resilient globally through increasing visibility and making the end-to-end process more agile to disruptive factors will continue to be at the forefront of supply chain management in the coming decade.
What is “resilience”?
Resilience is the ability to resist a disruptive event. The factors that make a supply chain resilient can be divided into two themes: resistance and recovery. Resistance involves identifying ways to avoid a disruption. Recovery focuses on how to bounce back from a disruptive event. These can be split into four phases which outline the timeline of supply chain disruption events as seen in Figure 1.
Figure 1. The road to resilience by Rainmaking
Why is this relevant now?
Every industry has been affected by supply chain disruptions, and increasingly so in the past 2 years; From healthcare to maritime and utility shortages to inventory disruptions for the holiday season, it has not been a smooth sailing journey for supply chain leaders globally. Costing countries $184m2 annually in the form of supply chain disruptions, industries are under pressure to make their supply chains more resilient.
As supply chains become increasingly complicated (with hundreds, sometimes tens of thousands of key inputs, options of suppliers, routes etc), every company with a supply chain department will have to turn to technology to strengthen data infrastructures and improve algorithmic capabilities.
Rainmaking combines the strength of corporations and agility of startups to launch and de-risk innovation, tackling Supply Chain Resilience (SCR) problems related to costs, forecasting, data, compliance, contingencies, embedding ESG, regulations and technology etc.
SCR challenges in 2022 – Our Focus
We work with four focus areas in which we address key challenges with our corporate partners.
- Real-time Visibility of Material Movements // Track & Trace
We focus on solutions that capture data from various sources (devices like IoT or sensors) and embed analytics in order to provide structured and accurate outputs of the location, status and other characteristics of materials moved through logistics and distribution activities.
- Supply and Demand Planning Advanced Solutions // Inventory & Operational Optimisation
We scout for solutions that make sense of internal and external data from businesses to provide recommendations (in an automated manner) for decisions of allocation of resources in the supply chain; Include demand planning, supply planning, distribution planning, inventory management, sales forecasts and Warehouse Management Systems (WMS).
- Logistics & Trading Process Integrations & Automation Through Data Sharing // Data Optimisation
Logistics and Trading often involves interactions across multiple entities such as cargo owners, ship owners, port operators, port authorities, surveyors/inspectors, banks, brokers, agents, buyers, sellers and traders. Communication and flow of documents and information is often manual, by email (or hard copy paper) and recorded in different and multiple non-integrated systems.
We focus on solutions that take account of the multiple stakeholders in specific trading flows and seek to digitise, integrate and automate the process and all its documents to bring increased speed, accuracy, visibility, control and capacity to effectively manage activities and P&L.
- Advanced Quality Inspection Solutions // Quality Control
We work with solutions that will leverage technologies (eg. machine/computer vision, AI, ML, deep learning, robotics) to help improve the accuracy and speed of quality inspections of components and equipment.
We also scout for solutions to be applicable for inbound materials (components and parts), during assembly line inspections and after production for the outbound of delivery to customers (to improve post sales customer support); With data gathered from (above) remote inspections to be leveraged to support continuous improvement.
Rainmaking provides a collaborative environment for innovation, problem solving and value creation between leading industry partners. By understanding the most critical industry pain points, we leverage tech startups to address key challenges, like the ones mentioned above, with new technologies to syndicate co-creation of new solutions at scale.
- (1) https://www.thebci.org/uploads/assets/e5803f73-e3d5-4d78-9efb2f983f25a64d/BCISupplyChainResilienceReportOctober2019SingleLow1.pdf
- (2) https://www.statista.com/statistics/1259125/cost-supply-chain-disruption-country/#:~:text=Supply%20chain%20disruptions%20are%20an,according%20to%20a%202021%20survey