Shifting to COVID-19 recovery, SupplyShift collaborates with Moody’s Analytics and Verisk Maplecroft to expand Impact Assessment – extends no-cost access
June 11, 2020 — Santa Cruz, CA
(Photo source: SupplyShift)
SupplyShift announces expansion of COVID-19 Impact Assessment to enhance risk monitoring capabilities and provide insight to guide companies in their recovery efforts.
On March 17, SupplyShift launched their no-cost COVID-19 Impact Assessment to help companies identify suppliers at all levels of the supply chain and assess the impacts of COVID-19 on their operations. Since then, close to 100 companies have registered to deploy the solution, and hundreds of suppliers shared their responses on how COVID-19 has affected their business.
According to data reported in the SupplyShift platform, supplier sentiments are trending in a positive direction. Of the companies surveyed since March, 43% reported that they were running at 81-100% of capacity, and 14% reported that they were actually operating at more than 100% of capacity. Employee availability remained relatively high throughout the period, with 68% of respondents reporting employee availability of 90% or higher.
For companies that did report lowered capacity, the three main reasons cited were government-mandated shutdown, reduced demand, and supply chain disruptions from their own suppliers. Overall, respondents maintained an optimistic outlook, with over half expecting the main impacts of disruption to continue decreasing over time.
With most supply chain impacts understood, companies are now shifting their focus toward operational recovery. In support of these goals, today, SupplyShift is announcing an expansion of their COVID-19 Impact Assessment to enhance risk monitoring capabilities and provide insight to guide companies in their recovery efforts.
The expanded COVID-19 Impact Assessment now links to additional capabilities from two organizations, Moody’s Analytics and Verisk Maplecroft, providing additional layers of information for companies to continue measuring impact in their supply chains and begin charting recovery strategies.
“As we navigate the business challenges of COVID-19, the conversation has transitioned from risk mitigation to recovery,” observed Alex Gershenson, CEO of SupplyShift. “Our collaboration with Moody’s Analytics and Verisk Maplecroft brings powerful enhancements to our solution. We hope these tools will continue to aid the business community as they work to secure their supply chains.”
The COVID-19 Impact Assessment offers access to the Moody’s Analytics Coronavirus Pulse news sentiment tool, which allows market participants to search for real-time news coverage, see COVID-19-related news stories about a chosen financial institution, company or sector, and view whether each story has adverse, neutral, or positive sentiment. Through this linkage, users of SupplyShift’s COVID-19 Impact Assessment can monitor developments that impact their suppliers in real time.
“As the coronavirus crisis evolves, we recognize that comprehensive and timely information is imperative to decision makers,” said Keith Berry, Executive Director of Moody’s Analytics Accelerator. “Coronavirus Pulse complements quantitative analysis by helping market participants more efficiently identify emerging risk themes for the sectors they monitor.”
SupplyShift is also leveraging data from Verisk Maplecroft’s suite of 150+ global risk indices into the solution. The company’s Recovery Capacity Index uses a selection of global risk indices to assess the underlying characteristics that shape a country’s fundamental capacity to absorb and adjust to the changes brought on by COVID-19. The Recovery Capacity Index feeds directly into SupplyShift’s COVID-19 Impact Assessment, allowing companies to accurately estimate the likelihood of supplier recovery to the Nth tier. Combining data from the SupplyShift COVID-19 Impact Assessment, customers can use the Verisk Maplecroft data to examine structural factors, such as economic sophistication, strength of institutions, and population sensitivity, that are likely to play a role in determining the ability of a country to recover in the medium to long term.
“As companies shift towards recovery planning, assessing country-level resilience is critical to build an understanding of sourcing vulnerabilities,” added Matt Moshiri, president of Verisk Maplecroft. “Combining the supply chain visibility of the SupplyShift tool with Verisk Maplecroft’s Recovery Capacity Index provides the necessary insight to pinpoint vulnerabilities and build strategies to manage that risk.”
The COVID-19 Impact Assessment and its accompanying data feeds are currently available at no cost. Click here for more information and registration details.