Last week’s WannaCry ransomware attack was the latest chapter in a series of hacks and viruses launched by increasingly sophisticated criminals and hackers. The speed at which the malicious software racked up billions of dollars’ worth of damage underscored the vulnerability of data-intensive operations, such as those of global logistics companies.
Today, DHL rolled out DHL Supply Watch, a new tool in its Resilience360 supply chain risk management platform. The extension uses machine learning and natural language processing to detect disruptions in a company’s supply base, before they become costly or damaging.
DHL Resilience360’s Supply Watch “analyzes millions of online sources in real-time to detect early indicators of potential supplier distresses before they occur.” The tool can identify impacts of cyber-attacks or financial stress of suppliers, allowing companies to divert services and resources.
Supply Watch adds new risk categories, including financial indicators, mergers and acquisition, environmental damages, supply shortages, quality issues and labor disputes. The tool uses publicly available data mined from online and social media sources.
“The insights and transparency customers gain through Supply Watch are another example of how digitalization can benefit end-to-end supply chain operations, through building resilient supply chains and enabling businesses to be more competitive,” said Tobias Larsson, head of Resilience360, DHL Customer Solutions & Innovation.
DHL said that its Supply Watch tool could “identify which suppliers may have reportedly been affected,” by ransomware and other hacks, enabling companies to take appropriate precautions in their supply chain.