(NYSE: DNB), a leading global provider of business decisioning data and analytics, today announced unaudited financial results for the first quarter ended March 31, 2023. This usually means automating your data supply chain, so you're finding new suppliers or managing existing suppliers.Ī third party like Dun & Bradstreet can help drive data automation, so firms can make decisions faster, based on validated accurate data in real time.JACKSONVILLE, Fla., May 04, 2023-( BUSINESS WIRE)-Dun & Bradstreet Holdings, Inc. Invest in your processes, to ensure you can do more with the same, or fewer, resources. Take-away message for C-suiters?Īct with urgency. You can never eliminate supply chain disruption, but you can proactively mitigate the impact it has on profitability and the ability to maintain operations. If you have alternatives on hand you're able to pivot quicker. Being able to identify alternative suppliers among your most critical group of suppliers, is really important.
If it has changed, it'll help inform decisions around the amount of business you're doing with that company.įinally, we help companies shift from a reactive to a proactive environment. Firms then need to put a continuous monitoring program in place, to ensure the risk profile of those suppliers has not changed.
Thirdly, we encourage clients to identify those suppliers that are most critical. Most of our customers struggle for visibility on that second and third tier. You must understand where the critical suppliers are, even if that's in your sub-tier supply chain – tiers two or three your supplier’s suppliers. The second part of the process is looking at your tier one suppliers. That process should include a review of financial and credit, health, cyber risk, ESG risk, sanctions, and beneficial ownership. There's four components to a successful supply chain program.įirst is having a risk-based assessment process that helps companies identify potential supplier risk upfront during the onboarding process. How do you help firms with supply risk problems? This year we expect to see increased ESG regulation, which most companies have not yet built into their supplier onboarding risk assessment processes.Īnd so companies are trying to go from being reactive to being proactive, which is really challenging in a global sourcing environment where companies are trying to do more with the same, or fewer, resources. This is from sanctions, due to increasing geopolitical issues, such as what we're seeing with Russia's invasion of Ukraine, but there is also the expanding regulatory requirements around supply chain. The third risk is the increasing regulatory burden on firms. Companies have done a really good job adapting in the wake of so much disruption over the past three years, but many companies have started to overstock inventory, to ensure they can meet demand. Unfortunately, with recession looming demand may wane, leaving companies with excess inventory, and again leading to lower margins. Second is an unpredictable global economy. Rising prices make it very difficult for companies to manage cashflow, which leads to lower profit margins. What major risks do supply chains face right now? We also help companies manage the burgeoning regulatory requirements pressed upon them around the world. We also help procurement and global sourcing organisations solve supply chain disruption challenges, and reduce expenses. We do this by leveraging our data cloud, which contains information on 500 million businesses around the globe.Īs GM for our Finance and Risk Solutions business, I help customers in the lending space, whether they're extending credit or managing a risk portfolio.
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We help them solve challenges such as how to accelerate revenue, reduce costs, manage risk, and drive overall transformation. How does Dun & Bradstreet help its clients?ĭun & Bradstreet helps businesses turn data into actionable insight. The following is an edited version of that interview. Alster was a guest on the latest Supply Chain Digital Show on LinkedIn. Brian Alster is General Manager, North America, Finance & Risk for Dun & Bradstreet, the multinational company that provides commercial data, analytics, and insights for businesses.
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