Optilogic Introduces Personalized Risk Profiling in Cosmic Frog Supply Chain Network Design Platform
Cosmic Frog is the only supply chain design solution that optimizes across financials, service, and risk
(PRUnderground) May 24th, 2023
Supply chain design software innovator Optilogic today announced personalized risk profiling, available as part of its Cosmic Frog supply chain network design solution. Cosmic Frog is the fastest network design solution and provides a risk score on every scenario to help companies proactively minimize risk and volatility.
The OptiRisk score is calculated based on weights of different risk components. With the new personalized risk profiling feature, businesses can create customized risk profiles to emphasize risk areas that matter in their business domain, including climate risk, network complexity, and geography.
“At Optilogic we know that risk is a part of every strategic supply chain decision, whether you measure it or not,” said Don Hicks, CEO of Optilogic. “For the first time, risk is on equal footing with financials and service in supply chain network design, allowing companies to choose the future that’s right for them. If you don’t know what risks you’re throwing at your company, you’re like a baby at a poker table. If you’re able to measure and quantify risk, you’re a professional risk taker.”
Using risk scenarios, supply chain practitioners can easily compare results across several risk profiles to make the best design decisions.
Optilogic considers risk in the big picture and breaks it down to the granular level to help guide supply chain decision-making.
Cosmic Frog’s risk engine can identify and quantify risks on multiple levels:
- Supplier risk
- Facility risk
- Customer risk
- Network risk
These include external risks like proximity to a nuclear power plant and operational risks like percentage of volume that is single-sourced. The engine assesses risk and potential impacts according to analytic data collected by sources like the World Bank and the World Health Organization (WHO).
“When supply chain modeling tools like Cosmic Frog are exercised, every scenario displays the financial impact of a risk event and potentially a risk assessment,” said Greg Schlegel, founder of the Supply Chain Risk Management Consortium. “Companies can use this data to develop risk mitigation plans. The SCRM Consortium calls this ‘stress-testing the supply chain’ and deems it an SCRM exemplary company best practice.”
Optilogic offers cloud-native supply chain design solutions that enable businesses to evaluate trade-offs across financial performance, service levels, and systemic risk to design resilient supply chains even in the most dynamic, challenging environments. Its Cosmic Frog supply chain design solution tackles enterprise data at scale, runs models faster than ever, automatically converts legacy models, and requires no IT footprint. Cosmic Frog is the only supply chain design platform to combine optimization, simulation, and risk engines, and includes a risk rating on every scenario. Solutions include network design, intelligent greenfield analysis and site selection, M&A analysis, near-shoring/reshoring, CapEx planning, cost-to-serve, product flow, and many more. Stay in touch with Optilogic on LinkedIn, Twitter, Facebook, and YouTube and visit www.Optilogic.com.
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Original Press Release.