An extension to DHL's computerized early warning system uses machine learning to detect weakness in its supply chain before disruptions damage finances or reputations.
Instances such as bankruptcy among the top 10 containership lines have lately led to capacity shortages for the company.
DHL introduced a new integral part of its Resilience360 supply chain risk management platform called DHL Supply Watch on May 22, 2017.
DHL Resilience360’s Supply Watch analyzes online sources in real-time to detect early indicators of potential supplier distresses, including language used online and in social media.
Its software can identify which suppliers may be dealing with cyber attacks and financial stress.
DHL Resilience360 Supply Watch monitors some 140 different risk categories.
DHL’s system uses advanced Machine Learning (ML) and Natural Language Processing (NLP) technologies to analyze data from 30 million posts from more than 300,000 social media sources.
It now scans the net for certain new risks, including financial indicators, mergers & acquisition, environmental damages, supply shortage, quality issues and labor disputes.
Tobias Larsson, Head of Resilience360, Customer Solutions & Innovation, DHL said: “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.
“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.”
It adds that the recent global ‘WannaCry' ransomware attack is “another example for a situation in which the system could help to identify which suppliers may have reportedly been affected”.