4 ways to reinvent supplier risk assessment with Craft

Understanding supplier risk is essential to building resiliency across your supply chain. But enterprise-level businesses often have thousands to tens of thousands of suppliers—which makes it difficult, if not impossible, to fully assess your portfolio with accuracy and speed.


Today’s businesses need comprehensive supplier intelligence solutions to pull back the curtain on their supplier landscape and gain deeper visibility into supplier risk.


That’s where Craft comes in. 


Craft’s intelligence platform gives you real-time insight into your supply chain so you can confidently assess, monitor, and act on reliable, validated data. 

1. Access deep and broad metrics to mitigate risk

Businesses need comprehensive data to fully assess and mitigate risk within their supply chain. However, too often, organizations rely on just a narrow set of metrics to evaluate risk. This can leave your business vulnerable to threats that you may not identify until after the damage is done.


But capturing a broader set of data isn’t easy. Relevant supplier data can be difficult to access and scattered across multiple disconnected sources. And even if you do manage to pull all that data together, you still need to validate it.


Craft reduces the time wasted searching for data, the cost of multiple data providers, and accelerates confident decision making by providing deeper, more holistic, and verified data for all your suppliers—all on one easy-to-use platform. 


With Craft you get: 

  • Over 350+ data points gathered across millions of websites using proprietary machine learning, and 45+ trusted data partners.
  • Data validated through human intelligence to ensure trust and accuracy.
  • Supplier data aggregated in one portal, and organized for easy access. 


Craft helps you contextualize data and see the big picture of your supply chain. See how changes in key people, executives, financial statements, court breaches, and operating metrics are all part of the equation that helps indicate risk potential in the future. 


2. Looking beyond suppliers for data

Gathering data directly from your suppliers is an important practice that can provide new insights and strengthen your business relationship. However, you shouldn’t rely on suppliers alone to inform your supply chain intelligence. 


While supplier-provided information is useful, it is insufficient and can be biased. Suppliers naturally want to present their data (and their business) in the best light possible. But that means you won’t have a fully transparent or accurate picture of your supplier's risks. 


Plus, supplier data only represents a snapshot in time and can quickly change or become outdated. This means you could be acting on data that is no longer accurate or relevant—leaving your business vulnerable.


Get actionable, reliable, updated data with Craft.  


Craft’s supplier intelligence platform validates every data point through machine learning and manual human intelligence and ensures all its data is always updated and accurate. 

3. Collaborate and share important supplier data 

You need access to your supplier data to regularly analyze and manage supply chain risk. Yet, supplier data is often buried in an ERP and can be difficult to find or access. And when multiple stakeholders need access to share, analyze, and leverage this data, they often can’t.


Craft makes it easy to share supplier intelligence and collaborate internally. 


  • Save, organize, and monitor the suppliers that matter most with Portfolios. Portfolios can be shared directly with colleagues. 


  • Download entire company profiles and share important data and intelligence directly with your colleagues in a visually digestible way with PDF Download.


  • Create groups and teams so key suppliers and portfolios can be directly shared with and collaborated on internally with the right set of people.


4. The information you want before you know you need it

Supplier surveys gather helpful information, but they only capture a snapshot in time. Geopolitical events, natural disasters, and financial instability can quickly change any level of risk within a supplier. And being able to proactively monitor indicators of future risk is too demanding and challenging for one individual—especially when managing multiple suppliers. 


Craft Alerts monitors your supply chain for you so you never miss a threat or an opportunity.


Select the companies you want to monitor and set specific alerts based on the categories and metrics that matter most to you. Craft Alerts tracks over 25 categories so you can monitor your supply chain with precision. 

Always stay two steps ahead with Craft

When it comes to supply chain risk management, data is your greatest asset. The more you understand your supply landscape, the better you can anticipate risks and proactively address emerging threats. 


Craft helps you stay ahead of the curve with always-on monitoring, deep and comprehensive data collection, and powerful tools to share and analyze data, and collaborate on next steps.


Get started today at enterprise.craft.co/solutions/supply-chain.