LexisNexis® Legal & Professional (www.lexisnexis.com), a leading provider of content and technology solutions, announced the launch of LexisNexis® SmartWatch, a game-changing, risk-monitoring tool for supply management professionals.
Drawing upon the vast LexisNexis collection of global news content and proprietary risk event tagging, LexisNexis SmartWatch algorithms score and surface concerns about an organization’s suppliers and supply management partners, based upon each enterprise’s particular risk profile. LexisNexis SmartWatch—for which a patent is pending—then utilizes unique information visualization techniques, which enable supply management and procurement professionals to efficiently monitor thousands of suppliers for disruptive events that might affect their supply chain.
LexisNexis predefines risk events, scores and categorizes them into six categories: Political, Economic, Societal, Technical,Legal and Environmental which equals: ‘PESTLE’. The product assesses not only the supplier company, but also its location and its industry, against the risk categories, providing the most comprehensive and actionable insights.
Source: LexisNexis Press Release