Leading supply chain risk management company highly commended as provider of procurement technology
MUNICH and BOSTON (July 5, 2022) – riskmethods is proud to announce we are highly commended in the category “Technology Innovation” of the World Procurement Awards held annually by Procurement Leaders. Specifically, riskmethods was recognized for one of our recent innovations, riskmethods Supply Risk Network.
With riskmethods Supply Risk Network, companies collaboratively manage supply chain risks and gain multi-tier transparency via an innovative approach that benefits each of the participants in the network. Winning this award confirms our commitment to supporting our customers on their journey to supply chain resilience.
The World Procurement Awards are a unique opportunity for leading procurement teams to showcase their excellence to internal stakeholders, the world’s most influential organizations, and procurement thought leaders.
“We are pleased and honored that our solution portfolio designed for global enterprises has been recognized with this international, iconic award,” said Heiko Schwarz, founder and CEO of riskmethods. “With the rapid succession of severe risk events in recent years, I believe that everybody now understands that they have to do something in terms of risk. At riskmethods, we know what to do – and now receiving what you might call the ‘Oscar’ of the procurement world, confirms and validates our strengths in this area.”
Each year, Procurement Leaders invites applications from large and mid-sized enterprises that rely on procurement and supply chain excellence, as well as solutions providers. Entries for this year’s awards were judged by a panel of 31 leaders from some of the world’s biggest organizations.
In addition to recognition of riskmethods as a technical innovator, Corning, a customer of riskmethods, won the Risk & Resilience Award. “Our customers dominate the discipline, with three wins in the past five years,” remarked Bill DeMartino, riskmethods Chief Product Officer and Managing Director of the Americas. “In today’s turbulent and challenging environment, supply chain risk management has become a must-have to ensure business continuity. We are proud of this continued recognition of our ability to bring innovative solutions to aid our customers on the journey to supply chain resilience.”
The judges of the World Procurement Awards particularly highlighted the comprehensive risk management framework at Corning: “Using a sophisticated suite of technologies and overhauled processes, the company was able to anticipate emerging supply disruptions and respond to them as they developed in real-time.”
The COVID pandemic, the war in Ukraine and inflationary pressures are among the most recent challenges having severe impacts on global supply chains. With disruption and turbulence likely to continue, consumers, shareholders, and regulators are changing their focus from profitability to demanding resilience and transparency throughout the supply network. As evidenced by the World Procurement Awards, riskmethods enables our customers to solve pressing and evolving supply chain challenges.
riskmethods is proud to be the recipient of multiple industry awards for its contributions to the disciplines of procurement and supply chain management.
riskmethods, a Sphera company, empowers businesses with a solution to monitor, identify, assess, and mitigate supply chain risk. By using artificial intelligence, riskmethods helps businesses automate and accelerate threat detection, enabling them to gain competitive advantage with a well-managed approach to meeting customer demands, protecting reputation and reducing total cost of risk.
For more than 30 years, Sphera has served over 6,700 customers and a million-plus users in 80 countries to help companies keep their people safe, their products sustainable and their operations productive. Learn more about Sphera at www.sphera.com. Follow Sphera on LinkedIn.
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riskmethods was acquired by Sphera in October 2022. This content originally appeared on the riskmethods website and was slightly modified for sphera.com.