THE VALUE OF EVENT MONITORING
A 6.5 magnitude earthquake struck the Reno, Nevada area at 5:30 am on the 15th of May 2020. Have you checked your supply chain? Is this event relevant to your business and could it impact profitability? For example, do you rely on a major drug wholesaler whose warehouse and transportation networks are in the area? At approximately $2-5 an hour, is event monitoring software worth the cost? Are you able to detect a potential disruption in near real-time? Do you know how and where it will impact your supply chain? Are you able to quantify the potential impact to customers in near real-time? Are you ready to capture the UNCERTAINTY ADVANTAGE? How does the earthquake in Nevada (or an infinite number of events) affect fill rates, supply chain, product, and material inventory? Â
There are more than a dozen supply chain event monitoring products in the market #resilinc#riskmethods), all can be implemented in days by you, the supplier, or by a 3rd party such as The Risk Project. Worth the investment?
UPDATE 18 May 2020: It appears Reno and the surrounding businesses dodged a bullet. Click here to see what might happen if a quake struck Reno.
