A Supply Chain Risk Monitoring Software.
Prewave is a leading supply chain risk platform used by manufacturing companies worldwide to improve the transparency and resiliency of supply chains. The artificial intelligence (AI) based platform identifies risks in supply chains based on public information automatically and at an early stage.
With this information companies have the advantage and can counteract possible delivery bottlenecks and production stops on time.
Also, potential violations of sustainability or the impact of natural disasters up to global Pandemics (Covid19) on the supply chain become immediately visible.
Companies can collaborate internally and externally with their suppliers directly on the platform to make quick decisions and act before the competition even is aware of them.
Prewave provides a subscription-based supplier monitoring service (and an underlying platform) geared primarily toward monitoring and surfacing adverse events/conditions for critical supply chain suppliers across the globe–and doing it across 50 languages of public data across the internet (especially trained on social media channels).
Qualified buying organizations can get started with freemium access for a few dozen suppliers, but can then scale up the solution for a few euros per month per supplier. If the supplier doesn’t already exist in the Prewave supplier network (with over 50,000 suppliers on the network so far), then the buyer provides some baseline information before the supplier is alerted and onboarded in what’s called the “responder” role.
It also allows suppliers to invite and onboard their suppliers, on an opt-in basis, to get a view of the lower echelons of the supply chain, and acts as a collaborative platform, building a network of suppliers that customers can interact with. Once suppliers (and their sites) are loaded up, then buyers can simply monitoralerts coming from their Prewave feed, but they can also view their monitored supply base from the Prewave supply network map. The map includes the supplier sites and also other network nodes, such as ports, distribution centers, airports, border crossings and other points of interest.
Shipment lanes are technically supported by the platform (based on customer input).The easiest way to understand the solution is to actually go to Prewave.AI and view the public global supply network map and the risk events that can be viewed and filtered.
Although there are over 50 event types shown, the platform’s ML algorithms are being trained on 120 granular risks that can be tailored (the solution also allows tailoring based on roles and individual user preferences). For example, a coronavirus risk category contains two granular coronavirus risks but others that are related, such as facility closures/strikes, border closures, force majeure risk, etc.
Large German automotive manufacturers; large Tier 1 & Tier 2 suppliers in the automotive industry, top-ranked European motorcycle producer, top-ranked European household appliance producer and top-ranked European logistics provider
The cost of Prewave starts at $200/month. The software is generally priced per month. Price may differ depending on the amount of users included in hte monthly package. There is a free trial available. There is no free version available.
Due to the Corona crisis the year 2020 has been very challenging. The permanent changing restrictions to contain the virus have had been constantly adapted. The supply chain has been interrupted and information is constantly changing, making it almost impossible to obtain transparency in this situation. Thanks to ‘Prewave’ we deal with the complex situation more effectively and furthermore we have the necessary transparency to get through the crisis. Moreover we are well prepared for the future!