Executive Briefings

LexisNexis Launches Risk-Monitoring Tool for Supply Management

LexisNexis Legal and Professional has launched LexisNexis SmartWatch, a risk-monitoring tool for supply-management professionals.

Drawing on the LexisNexis storehouse of global news content and proprietary risk-event tagging, SmartWatch algorithms identify and score concerns about an organization's suppliers and supply-management partners, based on each company's unique risk profile. It then draws on a set of information-visualization techniques to help users monitor thousands of suppliers for disruptive events that might affect the supply chain. SmartWatch pre-defines, scores and categorizes hundreds of risk events into six "PESTLE" categories - for Political, Economic, Societal, Technical, Legal and Environment - used by supply-management professionals to manage suppliers. The product assesses the supplier company, its location and industry. Users click on a color-coded cell to view news events that have generated the risk score. Only risky events are identified. Results come from more than 26,000 global news sources, LexisNexis said.

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Drawing on the LexisNexis storehouse of global news content and proprietary risk-event tagging, SmartWatch algorithms identify and score concerns about an organization's suppliers and supply-management partners, based on each company's unique risk profile. It then draws on a set of information-visualization techniques to help users monitor thousands of suppliers for disruptive events that might affect the supply chain. SmartWatch pre-defines, scores and categorizes hundreds of risk events into six "PESTLE" categories - for Political, Economic, Societal, Technical, Legal and Environment - used by supply-management professionals to manage suppliers. The product assesses the supplier company, its location and industry. Users click on a color-coded cell to view news events that have generated the risk score. Only risky events are identified. Results come from more than 26,000 global news sources, LexisNexis said.

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