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A Higher-tech Way to Reduce Risk in Dealing with Overseas Suppliers

In a recent article the New York Times described a higher-tech way to find overseas suppliers — Panjiva! 

Suppliers can create risks!  BIIA member Panjiva helps to reduce the risk of supplier surprises.   This includes a warning that a suppliers is in financial trouble thus helping to mitigate risk.  Receiving a notification that a supplier has landed a major new customer, thus providing the opportunity to find alternative sources before prices rise or capacity disappears.   There’s no silver bullet for managing risk in the global supply chain, but having the best available information at the fingertips allows one spotting risks before it’s too late.   Last year, Panjiva’s clients bought goods worth $200 billion. 

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