Using predictive analytics , Prewave can also report on risk events before they even happen .
DIGITAL PROCUREMENT
Using predictive analytics , Prewave can also report on risk events before they even happen .
ArcelorMittal in Taranto , Italy had their first pollution alert on April 27th 2020 . The situation then worsened in July , kicking off an investigation . Finally , on February 19th 2020 there was the official order to close the furnace . Essentially , Prewave created the first alert for this string of events nearly 10 month in advance .
Nitschinger explains the complexities of identifying risks in a global supply network . “ A purchaser or supply chain manager say in central Europe or North America they most often aren ’ t aware of the risks that lay in their global supply networks because they don ' t have that visibility into what is happening in , for instance , Indonesian language on Twitter . And therefore , it oftentimes takes weeks or even months for that information to somehow trickle up the chain .
“ Maybe some NGO picks it up and reports on it . But you could have found out months ago based on social media sources , and that ' s where Prewave gets its
50 June 2021