EventWatch Best Practices Summary

Below is a quick summary of the Best Practices covered in the EventWatch module:

• Use more Data Points
  • The client should provide as much data about their suppliers/sub-suppliers, sites, parts, products etc. as possible. This will allow mapping of more stakeholders during disrupting events and increase the overall accuracy of the data.
  • For example: If “Parts” information of a certain product is present and a specific part is incurring supply chain disruption, then it will be easier to ascertain revenue at risk for that specific component than a “Product” as a whole.
• Status of WarRoom
  • Users are expected to update the correct status of Warrooms and close the event if the issue has been resolved. Archiving WarRoom will remove visibility and should only be done for WarRoom where no impact occurred.
• Better Communication and Coordination
  • The users should use effective communication and coordination between teams and stakeholders to achieve the best results. Coordination is key to an efficient contingency and recovery plan.
• Increase visibility of parts and sub-parts
  • Companies face their highest risk of supply chain disruptions at their Sub-Tier parts sites. In order to reduce risk, the user is expected to map their products from the first point of origin.
• Settings and Configuration 
  • Successful users will manage their settings to ensure only relevant information is visible to them.
  • Users should also tailor their notifications to manage the quantity and quality of notifications received.
  • The portal also allows users to receive industry-specific alerts. For instance: If a customer wants to check which specific industry was affected by an event, they can do that.
  • These configurations allow the customer to expect responses from their suppliers within a certain timeframe.
  • The users also have an opportunity to filter impact notifications based on Event type.
  • Additionally, users can limit the frequency of EventWatch notifications. The options vary from a daily digest to a real-time analysis to a weekly digest.