Interos, an AI-based operational resilience specialist, has launched a visualisation and monitoring tool to detect and model catastrophic risks to protect against deep shocks to an organisation’s supply chain. The Catastrophic Risk tool allows organisations to pre-plan months in advance to mitigate supply chain impacts of hurricanes, wildfires, floods, grid failure, disease outbreaks, war and other events.

The last year has seen 23 billion-dollar climate event impacts alone, leading to $57.6 billion in losses, according to NOAA. Interos stems these losses by providing the earlier possible assessment of suppliers in harm’s way.

“These proprietary models integrate a spectrum of past, present, and future hazard risk, enabling enterprises to get ahead of crisis at a time when natural disasters drain $3 trillion from the global economy annually,” explains Andrea Little Limbago, SVP, Research & Analysis, Interos. “These issues are exacerbated by a deep supply chain visibility crisis that cripples resilience. A majority of organisations don’t understand or monitor extended sub-tier networks and won’t know about a sub-tier weather shock until 48 hours after it happens, too late to prevent the ripple effect on parent operations and the extended supply chain ecosystem.”

Interos’ new technology visualises suppliers impacted by a range of hazards, including weather patterns, climate, communication, infrastructure, and healthcare capacity. By blending immediate and seasonal hazard intelligence, enterprises for the first time can identify and prevent seasonal as well as disaster-related disruption of suppliers hidden deep in extended supply chains.

New Jersey-based Cooper University Health Care used Interos’ intelligence to get ahead of Hurricane Idalia as it moved toward Florida last month, where several sub-tier suppliers are based.

“Interos gave us the ability to track potential impacts before the storm hit,” said Thomas Runkle, VP, Supply Chain. “We identified three suppliers in the path, two of which provide products to our system. We discovered one placed a cut off on orders with no notice. Having acted on the new risk map data, we reached out in time to get several days of orders placed before they were stopped due to the hurricane.”

“Leaders throughout industries recognise the need to take control of risk in an environment where resilience delivers competitive advantage,” said Jennifer Bisceglie, Interos Founder & CEO. “If you think about large-scale, multi-year programmes, enterprises need the ability to project where things are going with respect to weather, inflation, energy crisis and other trends to make better-informed business decisions based on impact to their supply chains ongoing operations.”

Interos’ technology modernises supply chain risk management by embedding proactive resilience measures into the foundation of the enterprise. It expedites essential supplier-related processes, including short listing, vetting, and negotiation to move organisations ahead. By leveraging continuous mapping and monitoring, enterprises can proactively manage supply chain disruption at speed and scale.