Supply Chain Managers Gain New Tool to Address Weather-related Risk

By Patrick Burnson, Executive Editor
November 11, 2013 - SCMR Editorial

Stormpulse, Inc., a weather intelligence company, announced it will expand its focus beyond the tracking of weather related business threats with the launch of “Riskpulse, risk management software as a service (Saas) package.

According to the company, Riskpulse gathers, elevates and visualizes external risk data into one platform, thereby giving shippers the ability to adjust to changing conditions quickly and make critical decisions “on the fly.”

“After seven years of focusing on weather, we recognized that there are many other external factors that affect a company’s supply chain and every day operations,” said Matt Wensing, Stormpulse co-founder and chief executive officer. “We created Riskpulse to help companies struggling with the ‘Big Data’ problem of finding meaning in the numbers. By giving them a simple platform to visualize and interpret the world’s most threatening data in relationship to the things they care about, they can make smart decisions and uncover new opportunities.”

In an interview with SCMR, Wensing says his company is partnering with insurance and third-party logistics providers to address specific verticals.

“Automotive parts and specialized medical devices are especially vulnerable supply chains,” he says. “While many of our existing customers are from the Fortune 500, we are mostly leveraged with mid-market clients.”

Wensing adds that this new offering will enable businesses to identify, quantify, and adapt to external risks including earthquakes, crime, and travel alerts.

With real-time tracking, businesses can visualize their moving assets in relation to threats in a consumable map format. Riskpulse interprets and identifies the most pressing issues and quantifies the data with a unique risk score. The platform is entirely customized to a business’s unique risk profile and emphasizes the opportunities created by uncontrollable threats.


“Using Stormpulse over the past several years has allowed us to consistently stay a step ahead of catastrophic weather events without ever breaking our stride,” says Ravi Singhvi, Risk Placement Services, Inc. vice president of analytics and Stormpulse customer. “Stormpulse keeps us focused on our business in the heat of the moment, so we are able to make highly rewarding decisions; we imagine their expanded focus will translate to expanded opportunities for RPI.”



About the Author

image
Patrick Burnson
Executive Editor
Patrick Burnson is executive editor for Logistics Management and Supply Chain Management Review magazines and web sites. Patrick is a widely-published writer and editor who has spent most of his career covering international trade, global logistics, and supply chain management. He lives and works in San Francisco, providing readers with a Pacific Rim perspective on industry trends and forecasts. You can reach him directly at .(JavaScript must be enabled to view this email address).

Subscribe to Logistics Management magazine

Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your
entire logistics operation.
Start your FREE subscription today!

Recent Entries

Flags of Convenience are a fact of life in the commercial maritime trade, but several European political action groups are worried that they will pose a threat to the Continent’s air cargo industry.

For May, which is the most recent month for which data is available, the SCI is -7.5, following April’s -7.5. FTR said this reading represents a still-tight capacity environment, as utilization rates hover between 98 percent and 99 percent.

With a 1.1 cent drop to $3.858 per gallon, this follows declines of 2.5 cents, 1.9 cents, and 0.7 cents over the previous three weeks, with the cumulative four-week decline at 6.2 cents.

Second quarter revenue for transportation and logistics titan UPS headed up 5.6 percent annually at $14.3 billion, while operating profit sank 57.1 percent to $747 million. Quarterly net income fell 57.6 percent to $454 million.

Panjiva, an online search engine with detailed information on global suppliers and manufacturers, recently said it is opening up the “vault,” so to speak. The vault in this case is making its copious amount of trade data accessible through an Application Programming Interface (API), which enables customers to extract Panjiva’s trade data into their own database.

About the Author

Patrick Burnson, Executive Editor
Patrick Burnson is executive editor for Logistics Management and Supply Chain Management Review. Patrick covers international trade, global logistics, and supply chain management. He lives and works in San Francisco, providing readers with a Pacific Rim perspective on industry trends and forecasts. Contact Patrick Burnson

Comments

Post a comment
Commenting is not available in this channel entry.