Global supply chains have faced extensive challenges over the past two years, tackling everything from labor shortages and cybersecurity threats, to pandemics, natural disasters, and geopolitical disruption. 

These events have led to a fundamental shift in how supply chain teams define and measure risk. In today’s complex and volatile environment, organizations must move away from operation models designed solely for efficiency and cost and begin accounting for risk exposure.  

This means investing in stronger supplier intelligence solutions that increase transparency along the entire value chain. 

That’s where Craft comes in.  In addition to a robust supplier intelligence platform, Craft is excited to announce several new product launches that will:

  • Improve supplier discovery and evaluation 
  • Better contextualize the overall health of your entire supplier network
  • Improve collaboration, action, and contingency planning with internal teams and stakeholders
  • Improve supplier monitoring so you know exactly when you should take action

Discover and Evaluate 

Researching suppliers is typically manual and tedious. In fact, it takes an average of three months for sourcing professionals to complete a single supplier search-costing valuable time and limiting the scope of suppliers organizations can review. 

But what if you could search thousands of global suppliers in days? With Craft’s improved Discover and Evaluate feature, you can.

Explore new or alternative suppliers using Craft’s robust database of company profiles and advanced search capabilities:

  • Evaluate suppliers against competitors along 500+ data points, and even compare them side-by-side. 
  • Organize hundreds or thousands of suppliers into portfolios based on select criteria to maintain seamless, efficient workflows.
  • Enhance visibility into corporate hierarchies and ultimate beneficial owners (UBO) to improve and accelerate due diligence processes.

Craft Risk Hub 

Understand the overall health of your entire supplier network and determine where the highest risks exist with Craft’s Risk Hub. 

Risk Hub uses machine learning to comb Craft’s supplier data ecosystem and compile key risk metrics for evaluation. 

With Risk Hub, you can 

  • Surface deeper insights into how suppliers perform against key industry benchmarks.
  • Get notified when suppliers experience significant changes in key risk categories, like ESG or cybersecurity.
  • Filter your view and focus on the metrics that are most important to you, whether that’s risk broken down by sector, portfolio, or risk category.

Risk Hub makes it easy to quickly measure, review, and analyze your risk landscape so you can uncover exposures and identify new opportunities.  

Craft Workspace 

Clear communication channels are essential to contingency planning and timely threat response in supply chain management. When something goes wrong, organizations must move quickly to notify decision-makers and execute plans seamlessly to minimize disruption and impact.  

Reduce time-to-action and collaborate with colleagues to respond to changes to a supplier’s risk profile with Craft Workspace.

Craft Workspace enhances communication in-platform, so everyone is on the same page. 

  • Tag colleagues directly in a note on a company profile, or portfolio.
  • Quickly notify other users of significant shifts in supplier data points.
  • Start a thread for any conversation that requires a back-and-forth.
  • Upload first-party data and unify disparate data sources into a single view.

Craft Alerts 

Supply chains are longer and more complex than ever before. This means it’s no longer possible to keep pace with the speed of business through manual monitoring and review. Instead, companies must take a proactive approach to supply chain monitoring and management.  

We’ve updated Craft Alerts to bring you more insights faster so you can take action right away.

Stay up-to-date on crucial changes to suppliers through real-time monitoring and alerts across multiple risk categories, including cyber, financial, and ESG. 

Craft Alerts: 

  • Delivers curated, news-based notifications via email, API, or Craft Platform that are extracted, categorized, and validated from over 200k news sources. 
  • Automatically flags significant changes to a supplier’s key risk scores and metrics to enable more proactive risk monitoring. 
  • Contextualizes supplier data and illuminates trends through a structured alerts timeline to empower informed decisions. 

Craft N-Tier Mapping (BETA) 

N-tier analysis helps organizations understand who their suppliers’ suppliers are. This is critical to building a holistic picture of the value chain and its potential vulnerabilities, as well as supporting procurement efforts and supplier research. 

But without reliable supplier intelligence, conducting a thorough n-tier analysis is a challenge. 

That’s why Craft is launching a new N-Tier Mapping product. 

  • Identify Tier 1, Tier 2, and Tier 3 suppliers to inform supplier negotiations and support due diligence.
  • Visualize your supplier network in real time, so you’re always working with updated data.

Craft N-Tier Mapping illuminates your extended supply chain. With enhanced visibility into entire supplier networks, you can better understand key dependency points and risk areas, such as single-source suppliers. This also sheds light on areas where users may have a false perception of diversification. With better insight into the extended supplier network, you can mitigate risks, plan ahead, and take action faster.