Santa Cruz, 6/9/20
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.
SupplyShift provides a comprehensive platform to seamlessly gather and analyze supplier networks, connecting companies to de-risk and improve supply chains. SupplyShift’s cloud-based platform allows for reliable data management and performance measurement, secure traceability for supply chain transparency, and improved collaboration throughout the entire supply chain. The platform is built with the belief that, when properly managed, a company’s supplier network can deliver incredible value for the company, the greater economy, and can play an important role in changing our world for the better. The SupplyShift platform makes it seamless to gain the insight needed to create a more responsive, responsible supplier network that makes the entire supply chain more productive. Learn more at supplyshift.net.
About Moody’s Analytics
Moody’s Analytics provides financial intelligence and analytical tools to help business leaders make better, faster decisions. Our deep risk expertise, expansive information resources, and innovative application of technology help our clients confidently navigate an evolving marketplace. We are known for our industry-leading and award-winning solutions, made up of research, data, software, and professional services, assembled to deliver a seamless customer experience. We create confidence in thousands of organizations worldwide, with our commitment to excellence, open mindset approach, and focus on meeting customer needs. For more information about Moody’s Analytics, visit our website or connect with us on Twitter and LinkedIn.
Moody’s Analytics, Inc. is a subsidiary of Moody’s Corporation (NYSE: MCO). Moody’s Corporation reported revenue of $4.8 billion in 2019, employs approximately 11,300 people worldwide and maintains a presence in 40 countries.
About Verisk Maplecroft
With over 15 years standing at the forefront of data modelling, risk analysis and strategic forecasting, Verisk Maplecroft offers an unparalleled perspective on the complexities of the global risk landscape and the challenges it presents to business and investors. Our unique holistic approach to risk combines the world’s most extensive portfolio of global risk indices with expert analysis and specialist advisory capabilities. We help businesses identify, map and manage the exposure of their operations, supply chains and investments to the full spectrum of risks. From emerging ESG trends, political instability and climate change to resource nationalism, labour rights and security issues, our flexible solutions and tailored services give our clients the actionable insight they need to make more effective decisions and succeed in an increasingly volatile world.
Verisk Maplecroft is a Verisk Analytics business (Nasdaq:VRSK).
For press inquiries:
SupplyShift: Matt Gottron, firstname.lastname@example.org
Moody’s Analytics: Katerina Soumilova, Katerina.Soumilova@moodys.com
Verisk Maplecroft: Jason McGeown, email@example.com