PO Line Risk Rating Software Creates Smarter Supply Chain Management With Artificial Intelligence
July 15, 2024
TradeBeyond's PO Line Risk Rating is a toolset that helps manage supply chain risks, giving a risk percentage score for each purchase order, indicating the likelihood of quality issues or delays.
PO Line Risk Rating is a toolset that enhances quality management and risk assessment by leveraging artificial intelligence (AI) to analyze thousands of historical data points, providing businesses with unparalleled accuracy and efficiency in managing their supply chain's quality risks.
Part of TradeBeyond's Pivot88 platform, its PO Line Risk Rating functionality uses advanced machine learning algorithms to continuously improve risk assessments for quality failures. By employing predictive analytics to evaluate multiple risk factors such as product type, materials used, country of origin, and many others, the system assigns a percentage risk score to each purchase order line, indicating the likelihood of quality issues or delays. This allows businesses to proactively identify and address high-risk PO lines.
"TradeBeyond's customers, including some of the world's largest brands and retailers, face immense challenges in managing quality and minimizing the risk of faulty products ending up on the shelf. Our AI-powered PO Line Risk Rating enhances inspection management and reduces operational costs by minimizing unnecessary inspections on low-risk PO lines. It’s crucial for helping companies improve the quality of their products over time." — TradeBeyond CEO Michael Hung.
This first-to-market functionality provides critical insights and reporting on the most significant risk factors affecting each PO line. Risk ratings are displayed as part of users' existing workflows, enabling better planning and prioritization of inspections and audits. Customizable risk thresholds allow quality managers to set their own parameters for risk levels, ensuring that resources are allocated effectively and strategically.
