Systems and methods to quantify risk associated with suppliers or geographic locations

a technology of geographic location and system, applied in the field of systems and methods to quantify risk associated with suppliers or geographic locations, can solve the problems of reducing the capability of a company, affecting the business performance of the company, and affecting the ability of the company, so as to achieve the effect of reducing the risk associated

Inactive Publication Date: 2017-07-06
ATUL VASHISTHA INC
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  • Summary
  • Abstract
  • Description
  • Claims
  • Application Information

AI Technical Summary

Benefits of technology

[0007]An object of the present invention is to provide a method for converting data from disparate source into quantified risk metrics that can be used to assess the risk associated with purchasing goods or services from a particular location.
[0008]Yet another object of the present invention is to provide guidance based on the risk metrics to help organizations choose a s

Problems solved by technology

An organization may face risk in many forms, including client risks, competitor risks, supplier risks, legal risks, technological risks, political risks, and environmental risks.
A disruption in the supply chain may reduce the capability of a company to provide its goods and services, thereby reducing its sales and revenue.
A disruption in the supply chain may also cause the company to breach contracts it has entered to sell its goods and service to customers, thereby subjecting the company to legal liability.
A disruption in supply can therefore have severe consequences for a company.
A supplier may face disruptions in its business for reasons directly relating to the operations and business dec

Method used

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  • Systems and methods to quantify risk associated with suppliers or geographic locations
  • Systems and methods to quantify risk associated with suppliers or geographic locations
  • Systems and methods to quantify risk associated with suppliers or geographic locations

Examples

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Embodiment Construction

[0019]As described in detail hereinafter, the present invention is directed to a computer-based system and process for converting data into risk metrics to quantify the potential risk associated with a particular supplier or suppliers, or the potential risk associated with a geographic location at which a supplier is located.

[0020]The disclosed processes and functionalities can be implemented by suitable computer-executable instructions. The computer-executable instructions may be stored as software code components or modules on one or more computer readable media, such as non-volatile memories, volatile memories, DASD arrays, magnetic tapes, floppy diskettes, hard drives, optical storage devices, etc. or any other appropriate computer-readable medium or storage device.

[0021]Additionally, the functions of the disclosed embodiments may be implemented on one computer or shared / distributed among two or more computers in or across a network. Communications between computers implementing...

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PUM

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Abstract

Computer-implemented systems and methods to quantify risk associated with suppliers or geographic locations at which suppliers or global internal delivery centers are located. The systems and methods transform risk parameter data into risk metrics that allow comparison of relative risk between suppliers, supplier sites, or geographic locations, and allow comparison of risk metrics to minimum risk scores calculated for a given metric. The systems and methods further provide guidance/proposed action to take based on the generated risk metrics.

Description

I. BACKGROUND[0001]The present invention is directed to computer-implemented systems and methods for transforming data into risk metrics to quantify the risk associated with a particular supplier or suppliers, or the potential risk associated with a geographic location at which a supplier or global internal delivery center is located.[0002]Risk assessment and management is essential for success of a wide variety of endeavors, including individual and organizational activities. An organization may face risk in many forms, including client risks, competitor risks, supplier risks, legal risks, technological risks, political risks, and environmental risks. Properly identifying, understanding and evaluating risks can allow an organization to prepare for and respond to events beyond its control.[0003]For example, a company that offers goods for sale may purchase component parts for its goods from one or more suppliers. When selecting a supplier, companies typically look to more than just ...

Claims

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Application Information

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IPC IPC(8): G06Q10/06G06Q10/08
CPCG06Q10/08G06Q10/0635
Inventor VASHISTHA, ATUL
Owner ATUL VASHISTHA INC
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