PSA BDP has launched Risk Monitor, a risk-monitoring digital product to help shippers manage disruptions in international trade.
The tool is an add-on feature to Smart Navigator, a digital platform that uses data analysis to provide real-time supply chain visibility.
Risk Monitor uses proprietary technology that allows customers to view over 50 common supply chain disruptions, including naturally occurring events like inclement weather and pandemics, as well as man-made risks like strikes and geopolitical tensions.
By providing advanced warnings, customers can take proactive measures to reduce risks, costs, inventory and production delays, while improving customer service, according to PSA BDP.
The tool aggregates data sources and maps them to a company’s specific circumstances, providing immediate real-time visibility of data relevant to any supply chain threats that have been substantiated or predicted by PSA BDP.
It continuously monitors weather events, port congestion, vessel events, geopolitical events, security compromises, and breaches. The tool instantly cross-checks and critically assesses shipments, containers, production plants, and suppliers to identify factors that are likely to affect customers’ supply chains.
“Through our conversations with customers, we know that they are seeking more opportunities for better control and enhanced visibility in their supply chains,” said Ghim Siew Ho, CEO – Products.
“To support their needs, PSA BDP is focused on developing digital applications that provide real-time, streamlined, and comprehensive data so that our customers can enjoy better visibility and achieve a more resilient, agile, and sustainable supply chain.
“Risk Monitor will augment our suite of services available on Smart Navigator, such as enhanced visibility, predictive ETA, and alerts and exception management.”