LexisNexis SmartWatch®

Monitor suppliers and quickly assess potential supply chain disruptions across key risk factors.

LexisNexis SmartWatch®, an advanced risk-monitoring and alerting tool, leverages trusted market intelligence that enables fast assessment of your suppliers’ current risk levels to help you anticipate and minimize supply chain disruptions, prevent litigation and protect your corporate brand.

  • Monitor a wide range of critical risk categories including financial, political, legal, environmental, etc.
  • Track your entire supply chain to surface hidden risk
  • Quickly and easily assess supplier risk with a color-coded dashboard
  • Monitor suppliers or risk categories over time to identify and analyze trends
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  • Proactively monitor key risk factors for potential supply chain disruptions—including political, economic, societal, technological, environmental and legal.
  • Access a vast collection of global publications and relevant business information—including news publications, industry and trade journals, legal and regulatory publications, business journals, analytical sources and more. You will find information on private companies beyond what they self-report plus information not found via Web searches alone.
  • Stay informed—with addition of RSS and ATOM feeds you are able to integrate SmartWatch news and PESTLE scores results into your workflow applications and tools to efficiently track and manage your suppliers.
  • Monitor thousands of suppliers—get a complete view of your entire supply chain, from your most critical suppliers and beyond—including those who supply raw materials.
  • See risk more easily—supplier risks are scored and displayed on a visual dashboard that uses color-coding to indicate the levels of risk. Scanning and pinpointing problem areas that range from natural disasters to regulatory changes, product recalls, reputational risk, country risks and more, is fast and easy.
  • Track trends over time—including tracking specific suppliers or tracking risk categories to better assess and evaluate risk.
  • Understand the financial health of your suppliers—using commercial credit data and risk scores powered by Experian®.
Lessons from the World Cup for Supply Risk Management
  • Recently, the Institute for Supply Management and LexisNexis® hosted a Webinar that took inspiration from memorable moments from the biggest stage for the world's soccer elite, the 2014 World Cup in Brazil. During “Risk Management is a Team Sport: Who are the players and what's your game plan?” presenter Eric Walsworth offered insights gained from his own experiences on Reed Elsevier's global supply management team. Click here to view more.
A Procurement Innovation Framework: Tools and Strategies to Drive Operational Efficiencies
  • Procurement professionals today are evolving beyond the basics of collecting supply information to pay invoices and enable eSourcing, contracts and SPM tools. Now, corporate executives expect procurement organizations to become an area of innovation, much like IT and R&D. Supply chain innovation involves the adoption of new methods, tools and technologies to generate positive changes in cost, quality and service. Learn what framework can be leveraged to develop and implement innovation within your procurement organization, as well as how to measure the success of your efforts. Click here to view Webinar.
Leveraging information to develop sound risk management strategies
  • Procurement leaders are flooded with information—from supplier data and alerts to industry trends and analytical tools—and sifting through those sources to identify red flags can be daunting. In this Webinar, you’ll learn how to filter, prioritize and apply the information available for procurement professionals. Click here to view Webinar.
How Due Diligence Can Uncover Supply Chain Risk
  • During this Webinar, Eric Walsworth, director, supply management, and Karen E. Gray, supply management specialist, share best practices on how to establish a due-diligence process that can help uncover third-party risk without excess time or budget. Click here to view Webinar.

Relationship Management: CRM and SRMRelationship Management: CRM and SRM

  • Just as companies have multiple interactions over time with their customers, so too do they interact with suppliers – looking at POs, negotiating contracts, managing logistics and delivery, and so on. The many interactions with suppliers should be viewed as a relationship, one which can and should be managed in a coordinated fashion across functional and business units. Click hereto read more.

Supplier Risk Mitigation Strategies Are you Aligning Supplier Risk Mitigation Strategies with Your Business Objectives?

  • Gaining visibility into and control over the multitude of internal and external risks is one of the top priorities of corporations today. With a recent jump in regulatory mandates and increasingly active shareholders, many organizations have become sensitive to identifying and eliminating areas of risk — including supplier, operational, IT, brand, and reputation areas — from their business. Identifying risks no longer becomes the sole responsibility of just procurement specialists. Click here to access the full article.

Top Talent What is Sustainable Supplier Management?

  • Managing supplier relationships today has gone from identifying and buying goods and services based on negotiated pricing (a transaction focused approach) to the strategic ability of recognizing "win-win" opportunities for both buyer and supplier. This change is tracked through enhanced supplier management activities. Effective supplier management can lead to a variety of benefits, including increased collaboration, savings to the buyer, and alternative or even additional sources of revenue for the suppliers over the long-term.

 

Top Talent Do You Really Know Your Suppliers?

  • Louis Berard, senior research analyst of Global Supply Management at Aberdeen Group outlines why companies need to understand their supplier networks.

 

 

Top Talent Top Talent Demands Top Technology

  • Arming supply management professionals with top technology delivers more than traditional savings; it helps attract, build and retain the next generation of business leaders.

 

 

Top Talent Need for Supplier Diligence and On-going Monitoring

  • Louis Berard outlines the recent financial services’ risk management guidelines defined by the OCC and reflects on the impact a lack of due diligence and continuous monitoring of third-party relationships can cause.

 

 

James Ritchie How well do you know your supply chain

  • James Ritchie reflects on lessons from a recent round-table session and identifies key steps for improving visibility around potential risks.

 

 

Leveraging Market Intelligence to Better Manage Supply Chain Risk

  • With the increased use of Tier 2 and Tier 3 global suppliers, even the most highly recognized companies find themselves vulnerable to the costly impact of using high-risk suppliers. Now you can help protect your company from events like the 2012 apparel factory fires in Bangladesh and Pakistan by using the latest technology to discover early warning signs of risk obtained from a unique selection of global resources and displayed in an easy-to-read format.

 

Managing Supplier Risk with Third Party Supplier Data

  • Gain insight into how best-in-class companies gather and utilize third-party data to onboard and monitor their suppliers. Included are detailed research results, analysis and recommendations to successfully implement third-party data practices in your company.

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